Different Prevalent Modes of Currency and Views of Contemporary Jurists

کرنسی کی مختلف مروجہ صورتیں اور معاصر فقہاء کرام کی آراء

Abstract

Currency is an important medium to be used by man and it has been part of human history since day one. There have been lots of means to exchange goods for desired items and this has created a solid monetary system among societies. The exchanging medium being a vital part of the trade market has been a central part of discussion among scholars, jurists, theologians, and legal bodies too. They have explained in detail every necessary dimension and highlighted the value of currency considering the historical patterns. Thus, in this paper, all the modes of currency are included to be discussed. i.e. commodity, metallic, paper, token, and plastic money, and all the famous opinions of scholars and jurists are gathered and presented to get a clear understanding of the value and status of the currency being used. Shariah standards for each type of currency and certain limitations regarding there are also mentioned in this research. A reader gets satisfying information about the medium of exchange and leaves with zero ambiguity about their legislative or juristic position in Islam.