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

Fatwa ID: 03331

Answered by:  Maulana Imran Mughal​

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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