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Fatwa #2665321 August 2013United States of America

What is the prevalent opinion among the hanafi jurists about the paper money?

Question

What is the prevalent opinion among the hanafi jurists about the paper money? Is it halal or haram?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Paper money is regarded as money in common practice and understanding. Common practice and understanding is called urf in Shariah. Urf is strongly considered in Shariah.

And Allah Ta’āla Knows Best

Mufti Ebrahim Desai.

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