01 Compensation of the decline of currency’s value in a loan contract

Abstract

Currency now an integrated part of our life, has gone through various changes since the days of Hazrat Yousuf (a.s.). The present day currency differs from the original mode of transactions through dirham and dinar, during the days of Prophet  Mohammad(s.a.w.w.). The difficulty in our era is how to apply the shariah laws on the present day currency also know as fiat money. Here is an explanation in the light of Quran and Sunnah.