Sending money to foreign country account

Everyday Islamic Finance Personal and Family Finance
#1

Assalamu alaikum. I am describing my situation below.

  1. Please note, from my country a normal person can not transfer money to any foreign bank account legally. If he does not have license to do so. So to send money to a foreign bank account we have to take help of licensed person/ persons who have business partner to that particular country.

There are only two way which I (actually anyone from our country) can have when sending money to foreign account.

  1. sending money say 10 dollar to the agents bank account. He will knock his agent in that foreign country to send rupee to the expected bank account. This total thing is done by two bank transfer or mobile money banking and it takes some time like 20-30 min. I have asked muftis they said it is ok. As the transfer rate we decided at the time of deal(along with the profit of agent). But the issue is, this system is not legal in my country. Though people usually have to apply this method.
  2. The only legal option that I (any one of my contry) have is, I give money say dollar to the licensed agent. Exchange rate is specified along with the charge. Then he will manage to contact with the foreign bank (there is many more legal steps.Which I don’t know clearly) after all the legal procedure done he will send pound to my destination bank account through their bank account they have in that foreign country. But this total procedure will take 48 hours. As there are unnecessary hard restrictions to do money transfer from my country. Is this transfer will be ok?
    Actually the main money transferring way in both the system is quite similar. But as number 2 is needs to complete some legal process it takes time.
    Please remember again there is no other option in my hand! I have searched, but no other option.If i could I will pay by paypal. But paypal only works only for some cases. As very few supplier have it. (Among my 10 suppliers only 1 person has it.) moreover I always don’t have dollar in it. And in my country you can not transfer dollar to your paypal account!! If someone from other country transfer then only your paypal account will have money!! In a nutshell I have no legal way other than number 2 that I described. And the most popular way is number one.Which is illegal as per the country law but fulfills islamic rule (I asked mufti).

And as I do business I have to send money to suppliers.Can I choose option 2? (Some mufti said it is ok as long as the rate is pre defined).

#2

Wasalam

May Allah bless you.
Did you ask the local Muftis about this?

Regards

#3

I did not talk about option 2 in details with them. Not in details in a sense, that I did not described the process in details. As I did not know much about it. I told him that I send our local currency to my agent in predefined exchange rate. And then he manages to send rupee to the destination bank next day.He said it is ok.I exactly don’t remember his wordings in details.