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Journal : Jurnal Al-Qiyam

Foreign Exchange Transactions (Sharf) in the Perspective of Fiqh Muamalah: Between Classical Traditions and the Challenges of the Contemporary Global Economy Syaripuddin, Syaripuddin; Sunarta, Desy Arum; Mashuri, Arif; Mulyawan, Andi Wawan; Khaeriyah, Hamzah; Wijaya, Abdi
International Journal on Advanced Science, Education, and Religion Vol 8 No 3 (2025): IJoASER (International Journal on Advanced Science, Education)
Publisher : Sekolah Tinggi Agama Islam Al-Furqan, Makassar - Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33648/ijoaser.v8i3.1119

Abstract

The rapid development of the global economy has increased the need for foreign exchange (Sharf) transactions across individuals, financial institutions, and nations. However, concerns about the permissibility of foreign exchange transactions from the perspective of Islamic law (fiqh muamalah) have become increasingly relevant. This study examines the sharia principles governing Sharf transactions, focusing on the application of fiqh muamalah to both classical and contemporary foreign exchange practices, particularly those involving digital technology. The research employs a descriptive qualitative method through a literature-based approach, exploring the views of classical and contemporary scholars, and analyzing the role of fatwas in ensuring compliance with sharia principles. The findings reveal that foreign exchange transactions must fulfill requirements such as immediate mutual exchange (taqabudh fi al-majlis) and avoid elements of usury (riba), uncertainty (gharar), and gambling (maysir). In the digital era, new challenges have emerged with the rise of financial instruments such as forex margin trading and cryptocurrency, requiring adaptive legal interpretations within the framework of fiqh muamalah to maintain sharia compliance. Thus, contemporary ijtihad and fatwas from sharia financial authorities are essential in guiding technology-based foreign exchange transactions to remain within Islamic legal boundaries.
Co-Authors A'yun, Qonita Qurrota Abdi Wijaya, Abdi Abdul Haris Abidah, Abidah Adawiyah, Rabbiatul Adhitya Ronnie Effendie, Adhitya Ronnie Akhmad Syahroni Ali Murtadho Emzaed Alima, Isna Aminah, Esse Andi Wawan Mulyawan, Andi Wawan Anggraini, Dewi Susi Ansori, Fuad Arifin Arifin Aryo Hartanto Aribowo Asmaidi Asmaidi Auliya Rahman A’yun, Qonita Qurrota Cahyadi, Aldy Fradana Mahaputra Chairunnisa, Niken Harel Dala, Maria Alensia Deltin Dani, Andrea Tri Rian Darnah, Darnah Desy Arum Sunarta Dewi, Isma Dimas Raditya Elvita, Melati Erlina Erlina Fachry Abda El Rahman Fahrezi, Korompot Naufal Fakhrurazi, Fakhrurazi Farha, Izzaty Fatmawati, Fatmawati Fauzi, Andri Azmul Ferry Budhi Susetyo Ferry Budhi Susetyo Fidia Deny Tisna Amijaya Gusti Ketut Alit Suputra Hardina Sandariria Hasbi, Muhammad Yunan Ika Purnamasari indarsih, Indarsih Khaeriyah, Hamzah Khoirunnisa, Kori Lubi, Ahmad Manggiri, Itsar Mashuri, Arif Memi Nor Hayati Moh. Nurul Huda, Moh. Nurul Mohammad WIJAYA Muhammad Jamil Barambangi Muhammad Wiharto Mulyadi, Taqriri Kamal Munawarah Munawarah, Munawarah Munfaati, Rafika Husnia Mushalifah, Mushalifah Mustika, Anggi Winda Nana Nirwana Nanda Arista Rizki Ningtyas, Retno Ayu Nofendri, Yos Oktavia, Vira Permatasari, Welly Dona Pridiptama, Raka Putra Purnamasari Putra, Fachrian Bimantoro Putri, Annisa Amalia Putri, Desi Febriani Rahma Wati Rahmat, Mustiwal Ramadhan, Rizal Furqan Ramadhanty, Husna Novia Raming, Indriasri Rinaldi, Rival Rito Goejantoro, Rito Saderisa, Saderisa Sahputra, Dimas Raditya Said Said, Said Saifannur, Saifannur Sam, Faza Syahrudin Saputri, Nola Febriana Sifriyani, Sifriyani Simahatie, Mai Sitti Harisah Solikhatun, Solikhatun Sopiyan, Sopiyan Sri Wahyuni Sri Wigantono Suciati, Rara SUHERI, EDI Sulaiman Hamzani Sumantri Mangkuwinata, Denny Suyanto Suyanto Syamsuir, Syamsuir Tengku Riza Zarzani N Tulzahrah, Shanaz Tumilaar, Rinancy Uha Isnaini Wahyujati, Mohamad Fahruli Wasono, Wasono Wulandari Wulandari Yuki Novia Nasution, Yuki Novia Yumna, Munadya Yusak, Monica Yeyen Zainuddin Iba