Saraf

Saraf is a term with multiple related meanings in different languages and historical contexts. In Persian, Urdu, and related languages, saraf (or sarraf) denotes a money changer or currency trader, a merchant who buys and sells coins and banknotes. Historically, saraf shops and markets were central to caravan trade and urban commerce; the profession persists in some regions as currency exchange vendors, especially in informal economies or border markets. The term is also used as a surname in several communities, reflecting the historical profession of ancestral money changers.

In Islamic jurisprudence, sarf (the science of exchange) is a technical term within fiqh muamalat that studies the rules governing the exchange of currencies and metallic commodities. Classical texts outline conditions for legitimate exchanges, including immediacy, equality, and the regulation of certain exchange pairings; sarf forms part of the broader discipline that influenced monetary systems and early banking practices.

The term is also encountered in modern contexts as a generic reference to currency exchange services and firms, including licensed exchange bureaux in many countries. In contemporary usage, saraf may refer to a professional or business involved in exchanging money, as well as to organizations and platforms offering foreign-exchange services.