Most jurists say it’s fine, provided the exchange is a real sale, has a sound reason, and isn’t a ruse for unlawful profit.
n general, Islamic jurists hold different views on this question, but the prevailing opinion is that if the transaction is carried out with sincere intent and a rational cause, there is no objection.
Buying and selling new banknotes for Eid is an issue that comes up around the new year and religious celebrations. The conditions that make selling new notes permissible are:
Conditions that make the sale permissible |
|---|
Sincere intent: The parties must have a genuine intention to buy and sell; the transaction must not be a mere formality to evade religious rules. |
Rational cause: There should be a logical explanation for the price difference between new and worn notes — for example higher demand for crisp notes or some special characteristic they possess. |
No riba (usury): The transaction must not aim to gain unlawful profit through an exploitative or interest-based scheme. |
Reason | Explanation (as given in the article) |
|---|---|
Different commodity | New banknotes may be treated as a different good compared with worn notes. |
Market demand | Greater demand for new notes can justify a higher price. |
Special features | New notes might have distinguishing features (new design, better quality) that justify a premium. |
View of the religious authorities: For full certainty about the religious ruling, it is recommended to consult your marja‘ (source of emulation).
Caution: If you have doubts, refrain from the transaction.
Intention: The buyer’s and seller’s intention is crucial. If the aim is purely to obtain illicit profit, the transaction is forbidden.
Conclusion (as stated in the article): If buying and selling new banknotes is done with sincere intent, a rational purpose and without riba, then from a religious standpoint it is not objectionable. However, if the transaction is a sham designed to evade religious law, it is forbidden.
Tip | |
|---|---|
If you need a definitive ruling, ask your marja‘ (religious authority). | “For full certainty, consult your marja‘.” |
Avoid the transaction if you have any doubt about its legitimacy or intentions. | “If you doubt, refrain from the transaction.” |
Ensure the sale has a real, rational reason (demand, special design) — don’t trade merely to circumvent rules. | “There should be a logical explanation for the price difference.” |
Confirm the deal does not involve riba or exploitative profit. | “The transaction must not be intended to gain unlawful profit (riba).” |
