The Es Economics and Entrepreneurship
Vol. 1 No. 03 (2023): The Es Economics And Entrepreneurship (ESEE)

Foreign Exchange Transactions in the Perspective of Islamic Economics

Hasan, Zulfikar (Unknown)



Article Info

Publish Date
30 Apr 2023

Abstract

Judging from its history, the currency has undergone many changes in meaning. Starting from its existence during the barter period to the modern era of money consisting of fiat money and demand deposits. At this time a new term has appeared virtual money. History records that money has developed its meaning, function and value of money. This change automatically has an impact on changes in the law that applies to it. This article uses a qualitative method with a literature study approach. The data presented in this article are sourced from statutory documents, journals, records, and books related to this research. The legal buying and selling of foreign exchange (forex) are permissible, with the following conditions; There is Ijab accompanied by Qabul (there is an agreement to give or receive). As stated in the MUI fatwa that foreign exchange transactions (al-Sharf) are only permitted if there is a need, for example as a precaution and not for speculation (chance) with conditions that have no legal basis.

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Journal Info

Abbrev

esee

Publisher

Subject

Economics, Econometrics & Finance

Description

ESEE - The Es Economics and Entrepreneurship is a peer-reviewed journal and open access three times a year (April, August, and December) published by Eastasouth Institute. ESEE aims to publish articles in the field of Microeconomics and macroeconomics, International trade and international finance, ...