Question:

Is paper money haram and riba?

Answer:

The use of paper money is permitted. Riba will only be found if exchange of the same currency occurs at different amounts, for example; a ten pound note in exchange for two five pound notes and ten pence.

Mufti Mohammed Sajjad

Wallahu Aalam bis-sawab

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The answer to this question is the opinion of the scholar and does not reflect the opinion of other scholars of As-Suffa Institute and As-Suffa Institute as an organisation.