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Question ID: 32635
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Respected Mufti Elias Sahib DBK
Assalamualaykum Warahmatullahi Wabarakatuhu

I took a loan of ZMK100000 (Zambian Kwacha) with the agreement of repaying my loan after one year in US Dollars totaling to US$12000.
Note : The current rate of the US DOLLAR TO THE KWACHA IS US $1 = 10 ZAMBIAN KWACHA.
Is this Permissible?
Kindly answer .
Jazaakallaah.

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Asked on March 1, 2017 3:59 pm
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Private answer

The dollar rate as compared to the Kwacha has to match at the time of taking the loan.
That will be repayable.

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Answered on March 9, 2017 9:58 pm
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