AskImamDarul Iftaa Mahmudiyyah (AskImam)

What does islam say about a 'Cheque Cashing' business. The service fee is from 2%-9%, depending on how soon cash is needed.Is the service fees halal or haraam to collect?

Fatwa 8542English
Finance and Commerce

Question

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What does islam say about a 'Cheque Cashing' business. The service fee is from 2%-9%, depending on how soon cash is needed.Is the service fees halal or haraam to collect?

Answer

Cheque cashing or discounting post dated cheques is not permissible.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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