Question:
Is it necessary to return loan in same currency? if we get loan in Darham and lender ask us to pay in Dollar at the time of maturity, please advise if it is correct?
Answer
If a loan (qard) is taken in a particular currency, the basic rule is that it must be repaid in the same currency and in the same nominal amount, regardless of any increase or decrease in the currency's market value.
Changing currency with intention of getting extra amount or penalizing or taking benefit over delayed payment is forbidden.
Sadr us Shariah Mufti Amjad Ali Aazmi has stated:
"The ruling regarding a loan is that the borrower must repay the equivalent of the item that was taken."
[📕Bahar-e-Shariat, Vol. 2, p. 756]
It is mentioned in Durr e Mukhtar:
الديون تقضى بأمثالها.
"Debts are repaid with their equivalents."
[📕Al-Durr al-Mukhtār maʿa Radd al-Muḥtār, Vol. 2, p. 389]
واللہ تعالٰی اعلم
کتبہ
Mufti Abdul Rehman Qadri
Limbe Jaame Masjid Malawi
17 ZulHijjah 1447ھ