Bill of Exchange is widely used in Islamic banking operations around the globe. This paper examines the issue of discounting the Bill of Exchange from a Sharia perspective. The study revolves around the issue of combining sale and borrowing (bay’ wa salaf). This qualitative research adopts a content analysis approach, using a descriptive, analytical, and comparative method to analyze the collected data. Based on the analysis, the study shows that discounting a Bill of Exchange in its traditional method raises concerns of usury. However, it is permissible to treat it as a form of paid agency. Additionally, it does not involve any impediments related to combining sales and borrowing contracts, making it permissible.
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