Home | Fatwa | Business | Online Forex Trading

Online Forex Trading

Question?

Is it permissible to trade Forex(online)?

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salamu ‘alaykum wa-rahmatullahi wa-barakatuh.

The issue of online Forex trading was discussed in the Jameeatul Muftieen meeting which comprises of twelve senior Muftis of South Africa. After analyzing the details provided, Forex trading was ruled impermissible, as many of its aspects did not conform to the laws of Shariah.

And Allah Ta’ala Knows Best

Mufti Ismaeel Bassa

Confirmation:

Mufti Ebrahim Desai.

Check Also

Beneficiaries of Provident Funds

  Nasihah (Advice): Abuse of funds   Sayyidatuna Khawlah Ansaariyyah Radhiyallahu Anha says, “I heard …

What should a person do with interest money?

  Question What should a person do with interest money? Answer In the Name of …

Leave a Reply

Your email address will not be published. Required fields are marked *