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Setting Exchange Rates For Currency Deposited Without The Client’s Or Bank’s Information
In the event that an exchange is completed in a foreign currency and there are no instructions regarding the exchange to a local currency of the...
 
Setting Rates For Currency Exchange Made By Client Through Correspondent Bank
When a client expects an exchange to be made in his favor through a correspondent bank, the exchange takes place at the rate on the day the...
 
Advance Agreement On Rate
It is permissible to make a promise to sell by agreeing upon a rate in advance for a transaction to take place at a later date and the delivery and...
 
Agreeing To Sell Currency At Pre-Determined Rate
It is permissible to exchange currencies at a rate that is fixed at the time of the agreement or one that is higher or lower than the exchange rate...
 
Currency Exchange
It is permissible to exchange different currencies at spot according to an agreed upon rate of exchange.
 
Gold And Silver
Gold and silver includes pure gold and silver and items containing them, such as jewellery.
 
Exchanging Gold Or Silver
It is obligatory that when gold is exchanged for gold or silver exchanged for silver (e.g. a gold bar for a gold coin) they be of equal weight and...
 
Exchanging Between Gold And Silver
It is permissible that when gold is exchanged for silver or silver for gold (e.g. a silver coin for a gold coin) they be of different weight (or...
 
Exchanging Gold And Silver – Different Face And Market Values
When the market value of a gold or silver commodity is different from its face value (e.g. a $1000 gold coin is selling for $1100), or when the...
 
Gold And Silver Combined With Other Metals
When buying anything containing a combination of gold and non-gold material, or silver and non-silver material, or silver and gold, it is forbidden...
 


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