Category: Financial Transactions
Fatwa#: 36711
Asked Country: United Arab Emirates

Answered Date: Sep 14,2016

Title: Online Trading

Question

 

 

Answer

Answer:

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu

You have explained that if one deposits $1000, he may trade up to $2500. You did not provide details of the $2500. Will this amount be a loan or a partnership. In distributing the profits and losses, what criteria is used in consideration of the $2500. Explain in detail.

 

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

 

Checked and approved by,

Mufti Ebrahim Desai

 

 

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