What was the outcome of the issue of dealing in the Forex and commodities market?

31 Jan 2007 · 12 Muharram 1428 AH1 min readFatwa 14850English

Question

What was the outcome of the issue of dealing in the Forex and commodities market? as the question was not adressed becuse of an ongoing research in the area. The person I am dealing with buys and sells copper, oil and coffee and gets profits by pre-empting the markets in these commodities.

Wa’laykum asalaam wa’rahmatulaahi wa barakaatu

Answer

Assalaamu `alaykum waRahmatullahi Wabarakatoh

In the name of Allah, Most Gracious, Most Merciful

The official ruling (Fatwa) of the Board Of Mufti’s Of South Africa (Jamiatul Mufteen) is that dealing in forex is not permissible.

Kindly provide further details regarding pre-empting markets as your question is unclear.

And Allah Ta’ala Knows Best.

Suhail Tarmahomed.
Student: Darul Ifta

Checked & approved:
Mufti Ebrahim Desai

Answered by: Suhail Tarmahomed

View original Compare with other Darul Iftas

Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/14850
Fatawa SA: https://fatawa.co.za/fatwa/askimam-14850

Question

Answer

People also ask

Related fatawa