Exchange Sale and its Contemporary Applications in Light of Islamic Jurisprudence

Abstract

This article addresses the topic of foreign exchange sales in light of the jurisprudence of the four Sunni schools of thought. It examines their definition and legitimacy, discusses how exchange is conducted, and examines contracts in which there is no option and the termination of exchange. Furthermore, it examines loan-based exchange and transfers, postal orders, and paper currencies circulating in markets and banks. It also attempts to address usurious transactions that have emerged in human communities. My goal is to reform the corruption in society and guide people to the path of the Almighty, the Praiseworthy.