Sarf

Sarf (Money Exchange): Literally: to turn; turn away; spend; sarrafa: to shift something from one state to another; insarafa: to leave. Technically: a sale of money for money; for example, to sell gold for gold or for silver, or to sell gold or silver for base-metal coins. Malikis define sarf as a sale of one medium of exchange for another. If the exchange is of the same medium of exchange, for example, gold for gold or silver for silver, they do not call it sarf; rather, it is murabalah if the counter-values are exchanged by weight. If they are coins, and the exchange is by number and face-value, the exchange is called mubadalah. See ISRA Islamic Financial System: Principles and Operations for further details.

Total Fatwas : 89
No. Title
1 The Purchaser Opens an LC for Delayed Payment in a Foreign Currency; the Bank Gives a Better Rate for Holding the Money till the Payment
2 The Bank Charges a Fee for an LC as Compensation for Missing out on the Difference in Currency Exchange Rates
3 Can the Bank Inform the Investor of His Expected Profit in Commodity Murabahah with Variations Based on the Currency Used?
4 Contract Of Sale And Currency Trading
5 A Forex Option
6 A Promise of Parallel Purchase and Sale of Gold
7 A Promise to Buy or Sell Currency at a Future Date
8 A Promise to Buy or Sell Gold or Silver at a Future Date
9 Are Currency Option Contracts Legal?
10 Can a Murabahah Deal Be Combined with a Foreign Currency Exchange?

 

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