Cross-Border Transactions: The Permissibility of Selling in Different Currencies in Islamic Finance #

Original question: In a globalized world, cross-border transactions have become much more apparent. In this regard, is it permissible for an Indonesian seller to sell an item in Rupiah and a Malaysian buyer to buy it in Ringgit?

A clear and known price between seller and buyers is one of the conditions for a valid transaction.

This includes specifying the denominated currency unit that is agreeable for both parties in the contract.