Excessive transfer fees while sending currencies across countries

Question:

What is the ruling of transferring an amount of money in new currency to a place where the recipient receives it in old currency.

Baring in mind that they take in return for the transfer service a large amount. So they look at the difference in the price of the two currencies then add to the transfer fee?

Answer:

From the angle of riba (usury), it is not riba. It is fees in return for the transfer service. Except that they doubled it for sinister political affairs. That is, that this transfer has in it harm upon the citizens, upon the one dealing in this transaction, and in it is depriving of wealth and forcefully taking the people’s wealth.

So for example, whoever transfers 100k, they take a quarter of it or more, and this is not called transfer fees according to the custom as is known in regards to transfer fees normally. Rather it is from robbery, and taking the wealth of the people wrongfully and oppression.

الظلم ظلمات يوم القيامة

“Oppression is darkness on the Day of Judgement.”

For this reason whoever is capable of not dealing in this transaction, being that nothing occurs to him from harm or other than that, or also spreading this oppression and this transaction which has this oppression. Then let him do so.

And whoever has been trialed with it, then it is not from ribā. From the angle of ribā, it is not ribā. But it is a transaction which has harm upon the one dealing with it, from the angle of forcefully taking wealth.

For indeed if he transfers something, and something is taken, it is not like the usual custom according to transfer fees.

And Allāh’s aid is sought.

Answered by: Shaykh, the Allamah, the Trustworthy Advisor, Abu Abdirrahman Yahya bin Ali Al-Hajuri – may Allah preserve him

Source: https://t.me/sh_yahia_duroos/7585,
https://t.me/sh_yahia_duroos/7586

Translated by: Abū ‘Abdillāh ‘Omar bin Yahya Al-‘Akawi