KARACHI: Islamic scholar Mufti Taqi Usmani informed the nation that purchasing dollars at this time, in order to sell them off as the rupee devalues, is a grave sin.
In a social media post, Mufti Usmani enlightened on Tuesday that, “Purchasing dollars to hoard and earn profit by the increase in its price is a grave sin and disloyalty to the country in the present economic situation.”
Purchasing dollars to hoard and earn profit by the increase in its price is a grave sin and disloyalty to the country in the present economic situation. According to some narrations of a Hadith those involved in hoarding are cursed by Allah Taala.
— Muhammad Taqi Usmani (@muftitaqiusmani) May 20, 2019
He also refereed to “some narrations of a Hadith”, according to which, “those involved in hoarding are cursed by Allah.”
Earlier today, with a consistent upward trend, the US dollar touched a new record high of Rs153 in the open market.
The rupee has continued to slide down against the greenback in recent weeks. The dollar was recorded at Rs150 on Friday, at Rs147 on Thursday and Rs144 on Wednesday, in the past week.
In the light of current scenario of the market, Federal Investigation Agency (FIA) has also launched a crackdown against dollar hoarders as well as those involved in Hawala Hundi business.