ANSWER:

She should repay in the same currency that you gave her and agreed upon. So, if she asked for 100 USD and you sent it to her, she should return it in USD. But if she asked for X amount in pesos, you should get it back in pesos, regardless of the exchange rate on that date.

QUESTION: I have been lending money to my cousin in the Philippines from the U.S. to cover her physiotherapy expenses. I’m wondering whether she will repay me in U.S. dollars or Philippine pesos. What are the legal considerations regarding this situation?

Halal/Haram Matters, Islamic economy |