Creating a Muslim Forex Account.
However, “regular” spot Forex trading offered by Forex brokers, with no overnight interest payments or charges, could clear the hurdle of riba. What Islam Says on Online Forex Trading. Having reduced the issue to one of trading spot Forex and assuming there is no interest element deemed to be involved, we move onto the next issue. Dec 28, · Originally Answered: Is Forex trading haram in Islam? No, if the trade is done at spot or without profit for either side of the transaction. This link will give a more detailed response.
If the types are different then sell however you like, so long as it is hand to hand. Usury is of course completely prohibited in Islam, and is defined very widely. For a long time, retail Forex brokers reflected the market practice of paying or charging to the trader the interest differential between the two components of any currency pair whose position remains open overnight. You might ask how they did so and maintained the profitability of their operations.
This was achieved by charging increased commissions in spot Forex trades, and this practice has become the hallmark of nearly all Islamic Forex brokers. Arguably, this in itself is just a camouflaged interest component, and if this view is taken, it makes Forex trading problematic according to Islamic law.
The interest problem also eliminates any possibility of trading Forex forwards, as there is always an interest element involved in these transactions. Having reduced the issue to one of trading spot Forex and assuming there is no interest element deemed to be involved, we move onto the next issue.
So clearly, the Prophet Mohammed peace be upon him had in mind exchanges of different types of commodities that would be made between two parties, recognizing that this was a natural and just aspect of commerce.
In fact, one could extrapolate that it was natural and accepted for a deal to made between two different parties. In modern times, it can be argued that in regards to Forex trading, the deal is made between a Forex broker and a trader, so this would qualify under such a definition of two different parties, which would be permissible according to Islamic law.
We would seem to be on solid ground here, as when a trade is made with a Forex broker, it takes effect immediately. Interestingly, this could suggest that all non-market trades i. They are simply speculating that the value of one with go up and the value of another will go down.
Is such speculation permissible according to Islamic law? This is an extremely difficult question to answer and it may be one that should be discussed with your own religious leader rather than being decided base on an internet article.
We can start by saying that Islam recognizes that nearly all adult human beings strive to improve their financial positions, and that life involves a large element of uncertainty. In life we are confronted with many choices, the outcome of which is unclear, and we strive to use intelligence and skill in choosing the available option that will produce the superior outcome. Tak kenal Dr Zaharuddin? Dalam banyak-banyak kajian dan fatwa, hanya Ustaz Ahmad Dusuki Abd Rani seorang yang berani mengatakan Forex trading online itu harus.
Video ini sudah lama ada di Youtube dan kami tidak pasti sama ada beliau mungkin sudah menarik balik pendapat beliau berkenaan dengan pendapat beliau dalam Forex trading online. Ramai akan pusing cerita kata main Forex online ni halal kalau ada ilmu. Selaras dengan itu, umat Islam adalah dilarang daripada melibatkan diri dalam perdagangan mata wang seumpama ini. Muzakarah juga menegaskan bahawa keputusan yang diputuskan ini tidak terpakai ke atas urus niaga pertukaran mata wang asing menerusi kaunter di pengurup wang berlesen dan urus niaga pertukaran mata wang asing yang dikendalikan oleh institusi-institusi kewangan yang dilesenkan di bawah undang-undang Malaysia.
Forex trading online adalah merupakan salah satu contoh urusniaga riba yang sepatutnya ditentang habis-habisan oleh umat Islam. Boleh rujuk laman web http: Bagi mereka yang telah pun melibatkan diri dengan Forex online, bertaubatlah.
Ingat anak isteri di rumah. Kami hanya menyampaikan, selebihnya terserah kepada diri sendiri.
Lepas tu, apa maksudnya tidak menepati hukum syarak.
Anonymous 16 February at Amandeep Sonewane 19 September