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 Is Forex Trading Allowed in Islam Halal or Haram

Is Forex Trading Allowed in Islam Halal or Haram

Forex Trading | Crypto Trading | Halal or Haram | Fatwa Details

Forex Trading | Crypto Trading | Halal or Haram | Fatwa Details submitted by homebusinessuni to u/homebusinessuni [link] [comments]

Forex Trading in Islam: Your views

ٱلسَّلَٰمُ عَلَيْكُمْ وَرَحْمَتُ ٱللَّٰهِ وَبَرَكَٰتُهُ
Before I get into the main question, I just want to clarify the reason I'm asking for individual views, is because this is supposedly a "grey area", and that means there will be a lot of difference of opinion, and of course, with these things everyone will have their own opinion on it based on their research.
Now I've done a fair amount of research, asked those who do it for a living, Muslim and Non Muslims, some of those Muslims are not practicing, some of them are, some of them are even Hafiz, so I would say I've asked a rather broad spectrum. The reply I get from almost everyone is along the lines of "if you know what you're doing, it's like any other business, similarly if you jump in blind without any knowledge or experience, then it becomes no different to gambling". Another point people raise is, "if it was Haram then why do brokers offer Islamic/Shari'a compliant accounts?", and "it's not classed as gambling by law in any country, that's spread betting (which is untaxed, where in the UK it is taxable income as it's not seen as gambling)"
The reason why I'm asking now personally is because I've spent a lot of time and money working on/with algorithms, tested and trialed a lot of different methods to remove this "gambling" connotation as much as possible, and feel like I've achieved a satisfactory result. However, I've recently seen videos where it mentions that since there are no tangible assets behind this, and it is just purchasing contracts for whether this currency/stock will rise or fall, it becomes Haram.
So where does that leave me and the other Muslims who have been depending on this for a living for many years? Have we been earning Haram all this time? I have constantly prayed for Allah to grant me success and wealth (since we're not a well off family by any means at all) mainly so I can help my parents. Now that I'm starting to see success and progress I don't know how to handle it Islamically. is this progress and income a blessing from Allah? Or am I just thinking that it is when I have been wasting my time. For further clarification I have not been earning any interest, and have been giving regular donations to charity and the local Masjids.
Jazakallah Khayr.
submitted by JJosuke434 to islam [link] [comments]

What are your requirements when it comes to investing with a bank and why?

submitted by lyraantarctica to islam [link] [comments]

Free Forex Trading Course Forex Trading Halal or Haram

Free Forex Trading Course Forex Trading Halal or Haram submitted by Healthconrner4u to UrduHindiReddit [link] [comments]

Is Forex (Currency Trading) Halal or Haram?

submitted by IslamQuranHadith to IslamicVideos [link] [comments]

Forex Trading is Haram: Malaysia National Fatwa Council

submitted by bloggersvilleusa to islam [link] [comments]

Should I completely ignore stock market?

So I wanted to get into Forex but came to understand that it is haram.
Then I came to know about options trading and also came to know that it is haram.
Any other investing/trading methods out their that is halal for me to do? Methods such as swing trading or day trading come to mind, are they halal as long as I am not investing in shady companies that sell alcohol for example.
I know that long term investments is okay as well and that's another option. But I want something to do almost day to day so I am not sure of another other trading methods that are halal?
submitted by mateyman to IslamicFinance [link] [comments]

The rough guide to the Islamic Investment world (in South Africa)

So this is my rough guide to Islamic investments within the South African Universe (it can apply globally, except my examples is all South African based). Hope it is informative and encourages halal investing.
Suggestions welcome
Section 1: Investment Universe 
  1. Islamic Bank fixed deposits
About: Invest your money for a fixed period (1 month up to 5 years). Get profit when period is completed
Pros: Reliable profit , Low financial risk, low Islamic risk : covered by a board of Shariah scholars
Cons: Low profit rates.

  1. Unit trusts
About: Collective investment - managed by investment company, protected by SA law, typically invests in equities, sukuks and property
Pros: Plenty of choice, Provided by registered Financial Service Providers, Sharia Boards , diversification
Cons: Typically High fees, .

  1. ETF
About: Collective investment
Pros: low fees, Provided by registered Financial Service Providers, Sharia Boards , diversification
Cons: only one option in SA, heavily weighted on Resources

  1. Shares
About: Pick your own stocks off the exchange
Pros: High profit potential,
Cons: Very Risky, No Islamic oversight (hence need to do your own screening)

  1. Property
About: Tried and test property
Pros: Stable Asset, Tangible, Straightforward, Zakah benefits,
Cons: High capital outlay, expensive legal costs (transfebond registration) , Not very liquid,
  1. Custom Wealth Solutions
About: Customized Wealth management and investments
Pros: Professional advice, custom solution
Cons: Available exclusively to high net worth individuals, Investment advise appears to be fee based

Section 2: Definitely not halal 
  1. Margin based investing: Margin = interest = haram. Also very risky
  2. Futures contracts: Shorting, going long, all CFD's and futures contracts are impermissible. Because a condition for a halal investment is that the underlying asset must be owned
  3. Forex: Or at least forex based on CFD's and margins. Buying dollars to travel should be perfectly fine.
  4. Stocks/Equities that primarily deal in haram activities: Gambling, pork, etc

Section 3: Grey Areas 
  1. Crypto ( Bitcoin ,etc) : In theory these should be more "halal" than fiat currency (what all money in the world is) however there are differences of opinion.
  2. Shares : There are grey areas : Most companies has an element of haram income (interest, etc). Scholars have devised ratios to to filter out "islamic stocks" from haram stocks (30-33% max debt, max 5% haram income, liquid ratios, etc). It is for this reason these stocks requires dividend purification.
However you should be aware of this before venturing into to stocks as you might not be comfortable with that thought (This also affects EFTs, Unit trusts, etc).
3 Easy Equities: Easy equities makes it cheap and easy to own equities. However I would at all times buy/sell only whole shares and not fractional shares. Fractional shares are done as a CFD (a bit different from a forex CFD). You get all the benefits of ownership such as dividends and capital gains on a pro rate basis. But you do not actually own the CFD until you buy enough CFD to get a real whole share. That being said, it is still grey, best to avoid fractional shares entirely
4. Halal Forex Accounts: Somehow these are marketed that way. Here's a link to (Islamic Finance Guru) who has a bit more knowledge on this. (Note: I am not affiliated in any way or get any benefit)
Section 4: Conclusion 
I sincerely hope this helps , and encourages to invest in the Islamic world.
Any ideas, inputs and suggestions welcome.


Disclaimer 1 : Corrections welcome, I am not a learned scholar, this is not financial advice, you bear the responsibility & consequences of your own decisions/investments
Disclaimer 2 : At some point FNB Sharia board quit , they subsequently hired a new board. They don't however make it easy to find who is in the board from their website. However the information can be found in news websites.
submitted by Flying_Koeksister to IslamicFinance [link] [comments]

Is this forbbiden or not?

Hey guys, I was thinking about getting into this forex trading thing but I’m muslim and I was thinking if forex is halal or haram? I heard of swap free islamic accounts but..is that it? Is that whole forex trading thing haram or halal? Thank you!
submitted by ulzzang001 to Forex [link] [comments]

Forex trading in Islam

I just want to ask if forex trading in Islam is halal or haram? Thank you for your time!
submitted by ulzzang001 to Forex [link] [comments]

IMF Strict Conditions- A Major Threat to the Country’s Economy

IMF Strict Conditions- A Major Threat to the Country’s Economy
Pak Revenue

The direction of the country’s economy needs to be corrected otherwise; the current economic condition may lead to great haram in the near future.
Chamber of Commerce and Industry (LCCI) Shahid Rasheed Butt said, “A 17% increase in revenue and enhanced forex reserves amid economic slowdown are surprising and indicate that country is not heading in the right direction.”
Despite the steady economic growth of the country, the revenue was still increasing due to the business community targeted to pay tax by the Federal Board of Revenue (FBR) officials.
Shahid Rasheed Butt informed that an ambitious revenue target set by the International Monetary Fund (IMF) couldn’t be met by the Federal Board of Revenue.
Due to the fragile economy, delayed refunds, and various other issues, exports in January recorded a reduction of 3.4% to $1.96 billion.
“Attracting foreign funds with high-interest rates can be repatriated any time that will unleash another crisis in Pakistan, therefore many economic exports are warning against this policy, Butt remarked.
President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain indicated the crucial need for revising the IMF conditions. The strict IMF terms should not be a major vulnerability to the economy of the country, he added.
Although IMF program has diminished current account deficit and reinforced forex reserves yet, it has affected the growth rate, business, employment, and production. The IMF reports to increase taxes are practically disturbing, Zahid Hussain shared.
He noted that the growth rate has already been fallen to 60% to get $ 6 billion which resulted in unemployment and increased liquidation.
Mian Zahid Hussain further said, “After the IMF deal, Rupee saw record erosion in its value but it hasn’t helped to improve the exports as expected while the public debt rose to unsustainable levels.”
submitted by Pak_Revenue to u/Pak_Revenue [link] [comments]

does anyone know the permissibility of investing in like Microsoft, Apple, or Amazon?

AS, I have no idea and not sure where to get a clear answer.
submitted by babbagack to islam [link] [comments]

Is Forex trading halal?

I was looking to get into this. Haven't actually done anything yet but just watched a few videos on babypips.com
Anyway, a friend told me that it is haraam but he didn't really explain why, so I'm looking for answers on the rulings of foreign exchange trading.
Thanks.
submitted by catsNpokemon to islam [link] [comments]

Question about Forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do Halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to islam [link] [comments]

Question about forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to stocks [link] [comments]

Forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to Forex [link] [comments]

Forex trading

Quick question. Is trading currency haram?
submitted by JinAnkabut to islam [link] [comments]

[Just Launched] Options Domination Binary Trading - [Amazing System] - True Risk Free Trades! [New for 2015]

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Concept of Forex Trading in Islam - YouTube Forex Haram Sebab Judi? - YouTube Kenapa FOREX Haram  Dr Zaharuddin Abd Rahman - YouTube Hukum Main Forex- UAI - YouTube Islamic Finance - FOREX Trading: Halal or Haram by Sheikh ...

Why forex trading is Haram for non-Islamic accounts? Islamic law clearly prohibits gambling, and this causes some persons to wonder if the level of speculation that goes along with Forex trading is permissible for Muslims. However, the exchange that happens between the dealer and the broker would be hand to hand and that is allowed. Seminggu dua ini, dunia perniagaan dan pelaburan online di negara kita dikejutkan dengan satu kenyataan oleh Majlis Fatwa Kebangsaan yang memutuskan bahawa operasi Forex online yang dijalankan oleh individu melalui broker-broker dalam talian adalah tidak menepati Syarak dan difatwakan sebagai haram. Sehari selepas keluarnya kenyataan tersebut, saya cuba mengintai beberapa forum-forum di ... This forex trading speculations are to acceptable in the law of Islam. In conclusion, the answer behind the question if forex trading is halal or haram is a difficult one to tell. Various forex trading systems contradict the laws of the Islam while some individuals disagrees with the statement. The issues involved when deciding whether forex trading is halal or haram Online forex trading involves several processes which are called into question by the Islamic ruling on usury. For instance, a particular strategy in forex trading which was used in the high-interest rate regimes of the years immediately preceding the 2008 global ... Halal Haram Forex Online – Fatwa Kata Haram, Tapi Masih Ramai Yang Selamba Join. Eza March 21, 2017 10:39 pm April 16, 2020. Nampaknya Forex trading online kembali menambat minat ramai. Ramai anak muda yang memperjuangkan kehebatan Forex trading online yang boleh untung besar setiap hari.

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Concept of Forex Trading in Islam - YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Ribidt 3 - Halal & Haram dalam Pasaran - Dr Zaharuddin Abd Rahman - 2016 *Terlebih dahulu saya memohon maaf, saya akan buang komen yang berbentuk provokatif,... Hukum Main Forex - Penjelasan Ustaz Azhar Idrus Berkaitan Isu Forex, Sama Ada Halal Atau Haram. Hukum Forex Haram Hukum Forex Halal Dalil Assalamualaikum dan salam sejahtera semua, untuk video kali ini saya nak share pendapat saya sebagai seorang Forex Trader berkenaan kenyataan sesetengah piha... Bergabung GRATIS ke Ruang Diskusi Komunitas kita di NFC Public Lounge http://www.nfcvip.net/komunitas/ Ikuti Kelas Forex FFC (Forex First Class) yang Harus d...

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