Loan payback in different currency


Zaid is a
South African employed in Saudi Arabia. He requests a loan of R 50 000.00 from
Hafeez with an agreement to repay the loan within six to eight months. The loan
is granted to Zaid by Hafeez. When Zaid gets the accumulated amount, he
notifies Hafeez, and Hafeez requests that the amount be paid into a Saudi
Arabian account in Riyals. However, when Zaid received the loan, the Riyal was
R 3.54, to

One Masjid loaning funds to another Masjid

A certain Masjid in our locality is running short of funds. Can the funds of one Masjid be used to meet the expenses of the Masjid in question, or can a loan be given to that Masjid?

With the mutual consultation of the Masjid trustees the Waqf funds of one institute may be loaned to another (Waqf) institute at a time of need. However, it is necessary that the loan amount is paid back. This ruling applies in a situation when there is a common board of trustees controlling the affairs of all the Masajid in a particular area.

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