Buying and Selling: Ruling on Buying and Selling Banknotes on Credit Above Face Value

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on Buying and Selling Banknotes on Credit Above Face Value

English:

Question #1590:

Is it permissible to buy and sell banknotes on credit for a price that is higher than their nominal value?

Answer #1590:

In case it is concluded with a serious intention and for a rational purpose, for example, they are different in respect of being new brand/worn out, having special signs on them, or of different value; there is no objection to doing so. However, if it is not concluded with a serious intention but only to circumvent the law prohibiting ribā; it is ḥarām and invalid in Islamic law.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Buying and Selling