Fatwa ID: 03331
Answered by: Maulana Imran Mughal
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
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.
Only Allah knows best.
Written by Maulana Imran Mughal
Check and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
 Imam Sarakhsi, Al-Mabsoot(Maktabah Rasheediyyah: Quetta), 14:32-33.