Are the Bank Notes such as Rand and Dollars etc a substitute for Gold

Answered according to Hanafi Fiqh by DarulIftaBirmingham


Answered by:  Maulana Imran Mughal​

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Question


 


Are the bank notes such as rand dollars etc a substitute for gold n silver hence a bayus sarf or are they considered urood such as fuloos.


 


بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم


In the name of Allah, the Most Gracious, the Most Merciful 


 


Answer


 


The present-day paper notes or banknotes will be considered s a substitute for gold and silver and not considered amongst the urood. This is because the noted themselves have been given a value and according to the common day usage of bank noted they themselves are valuable of the amount they indicate.[1]


 


Only Allah knows best.


Written by Maulana Imran Mughal


Check and approved by Mufti Mohammed Tosir Miah


Darul Ifta Birmingham


 


 



[1] Imam Sarakhsi, Al-Mabsoot(Maktabah Rasheediyyah: Quetta), 14:32-33.


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