Darul Iftaa Mahmudiyyah

No Riba Policy

· 7 Jumada I 1437 AH1 min readFatwa 35127English

Question

Hope you are well. Ameen.

Will the trading or investment be considered halal if it claims to be:

.Sharia Compliant Investment

◦No Riba Policy:

.No additional charges or hidden fees

◦Swap-Free Accounts: No interest rates for prolonged open positions or overnight open positions

The above information were obtained from an entity: BigOption, which mentioned that they provide Islamic Account.

Answer

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

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

Kindly send us the full scheme and contract for us to evaluate. The information provided above is insufficient. We cannot issue a ruling based on few broad clauses mentioned above.

And Allah Ta’āla Knows Best

Bilal Issak

Student Darul Iftaa
Leicester, England, UK

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Bilal Issak
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/35127
Fatawa SA: https://fatawa.co.za/fatwa/askimam-35127

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