´It was narrated that Abu Jawza' said:` "I heard him meaning Ibn 'Abbas allowing exchange (of Dirhams for Dirham etc., if extra was given) and that was narrated from him. Then I heard that he has taken back this opinion. I met him in Makkah and said: 'I heard that you had taken back (your opinion).' He said: 'Yes. That was just my own opinion, but Abu Sa'eed narrated from the Messenger of Allah (ﷺ) that he forbade exchange (of like items if extra is given)."'
Explanation & Benefits
Maulana Ataullah Sajid
Benefits and Issues:
➊
The meaning of "bay‘ sarf" is the exchange of gold for silver, or silver for gold, or the currency of one country for the currency of another country.
➋
The currency of one country is one kind, and the currency of another country is another kind, even if their names are the same. For example: Pakistani rupee and Indian rupee are two different kinds.
➌
It is agreed upon that in the exchange of currencies of different kinds, it is impermissible for payment to be made immediately from one side and promised from the other; rather, immediate payment from both sides is a condition. The second condition is that if the kind is the same, then there should be no increase or decrease (i.e., no excess on either side).
➍
It is the mark of a scholar to retract when an error in the issue becomes known.
Source: Commentary on Sunan Ibn Mājah by Mawlānā ‘Atā’ullāh Sājid, Page: 2258