Darul Iftaa Mahmudiyyah

Is forex trading permissible?

· 25 Dhuʻl-Hijjah 1433 AH1 min readFatwa 23098English

Question

Is Forex trade permisible in islam?

Answer

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

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

The issue of online Forex trading was discussed in the Jameeatul Muftieen (is a board comprising of 12 Muftis of South Africa). After analysing the details provided, Forex trading was ruled impermissible, as many of its aspects did not conform to the laws of Shariah.

And Allah Ta’āla Knows Best

Hussein Issa,
Mozambique

Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net

Answered by
Hussein Issa
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/23098
Fatawa SA: https://fatawa.co.za/fatwa/askimam-23098

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