Category: Business Matters
Fatwa#: 41567
Asked Country: Qatar

Answered Date: Dec 17,2018

Title: Forex Trading

Question

Assalamu Alikum.

My Question is related to Forex Trading (Currency & Gold). I read all Fatwa from your Website regarding Forex and your Suggestion is given depend on the Brokers Policy.

Please Give Detail if any Brokers doing Forex Trading which Comply with Sharia Law?

I hope it will be answer for all Muslim forex Traders.

 

Jasakallahu Hairan.

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We are not aware of any “Forex Broker” that provides Shariah compliant forex trading services. Moreover, we discourage online forex trading as it contravenes the Shariah precepts of trading. 

And Allah Ta’āla Knows Best

Anas Sharieff Qasmi.

Student Darul Iftaa

Hyderabad, India.

Checked and Approved by,
Mufti Ebrahim Desai.

 

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