AAOIFI Shari'ah Standard No. (1): Trading in Currencies
AAOIFI — Accounting and Auditing Organization for Islamic Financial Institutions
What this source says
AAOIFI Shari'ah Standard No. 1 governs the exchange (sarf) of currencies, requiring that exchanges of currency take place on a spot, hand-to-hand basis and barring deferred or interest-bearing currency dealings. It was issued on 27 Safar 1421H (31 May 2000).
Wording inside quotation marks is quoted from the source. The rest is this notebook’s summary of it — read the original before relying on it.
Provenance
- Source
- AAOIFI Shari'ah Standard No. (1): Trading in Currencies
- School / basis
- Comparative
- Added
- 2026-06-03
- Trust
- A position recorded from a named, published source — reported accurately, not independently adjudicated.
Compiler’s note
Paraphrase of the documented standard (not a verbatim quote of its text).
Topics
islamic-financecurrencysarfstandardsriba
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