Question:-
Is hawala business is allowed, for example, if I sell dollars and add a 60 cent mark up on the rate, is this allowed ?
Answer:-
If by the term ‘Hawaala’ you mean selling USD in lieu of another currency at a higher rate (in comparison to the bank rate), then there is no harm in doing so with the proviso that the buyer and seller happily consent to the transaction.
ALLAH TA’ALA KNOWS BEST!
ANSWERED BY:
Mufti Mohammed Desai
Date: 01 Rajab 1445 / 13 January 2024
