National Shari'a Board - Indonesian Council of Ulama Decree No. 2 of 2015 on Islamic Hedging

This decree states that when an agreement to conduct a currency exchange (wa'd (muwa'adah) li al-sharf) or an actual currency exchange (akad al-sharf) is made, uncertainty (gharar) as to the value of either relevant currency is impermissible. Indeed, such uncertainty renders the agreement illegitimate. The decree then stipulates further necessary measures and requirements to prevent uncertainty for such agreements.

FirstPreviousPage 1 of of 6NextLast