I HAVE 500000RS with a hawal wala(SARAAF) in pakistan. and i take from him in Dubai 100000Dirhams in dubai. and when i recive 100000Dirhams from him in dubai. then i exchange this 100000Dirhams into pakistne rupees at the rate of the day, for example which come 100000×16.50= 1650000Rupees- 500000 i have deposit with him- and the rest of 1150000rupees i will pay to him when i find. so it is JAIZ OR NOT: NOTE: if i gave all cash money when i take from him 100000 Dirhams he may exchange with in at the rate of 16.45.
Answer:
(Fatwa: 654/650=D)
It is permissible since one can exchange the currency of a country with the currency of another county on credit. You can exchange on any rate, but one has to abide by the rate fixed by the government.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband