Transactions confused with interest : foreign currency credit cards transaction fee, is it Riba ?
Fatawa Question
Assalamu Alaikum. When you buy a product from another country ; this obviously involves a different currency. Credit cards allow you to buy in another currency and charge you a "foreign exchange transaction fee" in addition to the corresponding monetary amount in your own currency, is this transaction fee considered Riba ?
Fatwa
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Publication Date
2002-04-18
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726624
American Psychological Association (APA)
Qahf, Mundhir. 2002-04-18. Transactions confused with interest : foreign currency credit cards transaction fee, is it Riba ?. .
https://search.emarefa.net/detail/BIM-726624
Modern Language Association (MLA)
Qahf, Mundhir. Transactions confused with interest : foreign currency credit cards transaction fee, is it Riba ?. 2002-04-18.
https://search.emarefa.net/detail/BIM-726624
American Medical Association (AMA)
Qahf, Mundhir. 2002-04-18. Transactions confused with interest : foreign currency credit cards transaction fee, is it Riba ?.
https://search.emarefa.net/detail/BIM-726624
