Question
Reference number: 659103 | Contemporary Financial Issues | Sept. 18, 2026
What is the ruling on selling a post-dated cheque for its face value?
Answer
If what is meant by its value is the exact amount stated on the cheque, without any increase or decrease, and in the same currency, rather than another currency, then this constitutes riba al-nasi’ah (usury arising from deferment) if the intention is to sell it, and an interest-free loan (qard hasan) if the intention is to provide financial assistance.
If what is meant by its value is selling it in another currency, then this constitutes riba al-nasi’ah (usury arising from deferment) and a deferred currency exchange (sarf mu’ajjal).
If what is meant by its value is selling it in the same currency for an amount lower than the face value of the cheque, then this constitutes both riba al-fadl (usury arising from an excess in exchange) and riba al-nasi’ah, as well as a deferred currency exchange (sarf mu’ajjal).
If what is meant by its value is selling it in the same currency for an amount lower than the face value of the cheque, then this constitutes an interest-bearing loan (qard ribawi).