Beware of Hidden Usury in Currency Exchange Before Eid, Is It Worse Than Adultery?

Dream - It has become a tradition among Indonesian people to exchange money with different values ​​before Eid or Idul Fitri. Starting from 5,000, 10,000, 20,000, and so on, to be distributed to relatives and children during Eid.

Exchanging money itself is not difficult. Especially before Eid, there are many impromptu money exchange services that can be found on the roadside. However, there is one question that arises for some people. What is the law regarding exchanging money before Eid? Is this considered usury?

In this matter, there are various opinions with their respective reasons and foundations. Therefore, let's take a look at the following explanation regarding the law of exchanging money before Eid as summarized by Dream from various sources.

About Currency Exchange in Islam

Quoted from konsultasisyariah.com, in economic studies there are several terms for ribawi goods, namely gold, silver, fine wheat, coarse wheat, dates, and salt. This is explained in the following hadith narrated by Muslim:

"If gold is exchanged for gold, silver is exchanged for silver, fine wheat is exchanged for fine wheat, coarse wheat is exchanged for coarse wheat, dates are exchanged for dates, and salt is exchanged for salt, the measurement must be the same and paid in cash. If the exchanged items are different, then the measurement can be as desired as long as it is paid in cash." (HR. Muslim 4147).

Then it is explained in another narration as follows:

"If gold is exchanged for gold, silver is exchanged for silver, wheat is exchanged for wheat, coarse wheat is exchanged for coarse wheat, dates are exchanged for dates, and salt is exchanged for salt, the measurement or weight must be the same and paid in cash. Whoever adds or asks for an addition, then he has engaged in usury. Both the taker and the giver are equally sinful." (HR. Ahmad 11466 & Muslim 4148)

Provisions of the Prophet on Exchange

Through the above hadith, the Prophet Muhammad also provided three provisions for exchange as follows:

Exchange Must Be Done for Similar Items

In this case, there are two conditions that must be met, namely it must be the same and paid in cash. For example, gold with gold, rupiah with rupiah, type A dates with type B dates. The Prophet said:

"The measurement must be the same, the size must be the same, and it must be from hand to hand (cash)."

If Exchanging Different Items but Still in the Same Group

For exchanging different items but still in the same group, there is a condition, namely it must be paid in cash. For example, gold with silver. In this case, a different weight is allowed, but it must still be paid in cash. As explained by the Prophet as follows:

"If the exchanged items are different, then the measurement can be as desired as long as it is paid in cash."

If Exchanging Different Group of Items

The third provision is if exchanging different groups of items. In this case, there are no specific rules. So, it can be different and it can be paid in cash or credit. For example, selling and buying rice with cash or buying and selling salt with cash. Everything is allowed as long as there is mutual consent.

Opinions on Exchanging Small Change

In the practice of exchanging small change usually done before Eid, there is an excess. Therefore, it is considered usury. When Rp 100,000 is exchanged for Rp 5,000 denominations, there is a difference of Rp 10,000 or an addition. This is classified as a usury transaction. Because there is inequality, even though it is done in cash.

The Prophet Muhammad said:

"Whoever adds or asks for an addition, then he has engaged in usury. Both the taker and the giver are equally sinful."

The Law of Using Money Exchange Services

Quoted from nu.or.id, if we look at the practice of exchanging money or ma'qud 'alaih, it refers to the money. So, exchanging with a certain amount of excess is forbidden because it falls into the category of usury.

It is different when viewed from the perspective of the practice of exchanging money or ma'qud 'alaih, which is the service provided by people. So, exchanging money with a certain amount of excess is permitted because it falls into the category of ijarah. Ijarah itself, according to KH. Afifuddin Muhajir in Fathul Mujibil Qarib, is as follows:

"Ijarah (rent) is actually a sale, the only difference is that ijarah has a time limit. The product in ijarah is not goods, but the benefits (services) of a product or the services of a labor (activity)."

There are no specific provisions regarding the excess money given as payment to the owner of the money exchange service in Islamic jurisprudence. It depends on the agreement between both parties, namely the service recipient and the service provider.

So, if you want to use a money exchange service, don't forget to intend that the practice is an ijarah contract. With that, the excess money is not considered usury, but rather a fee for the money exchange service.