{"id":27301,"date":"2023-02-13T20:54:26","date_gmt":"2023-02-13T20:54:26","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/home\/?p=27301"},"modified":"2023-02-13T20:54:26","modified_gmt":"2023-02-13T20:54:26","slug":"forex-trading","status":"publish","type":"post","link":"http:\/\/daruliftabirmingham.co.uk\/home\/forex-trading\/","title":{"rendered":"Forex Trading"},"content":{"rendered":"

Fatwa ID: 06500<\/strong><\/span><\/p>\n

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Answered by: Alimah Zakiratul Hoque<\/strong><\/span><\/p>\n

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Question:<\/u><\/strong><\/span><\/p>\n

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Please guide me more about forex trading<\/span><\/p>\n

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In the name of Allah, the Most Gracious, the Most Merciful<\/strong><\/u><\/span><\/p>\n

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Answer:<\/strong><\/u><\/span><\/p>\n

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The forex trading that is prevalent nowadays involves trading currencies without a physical exchange.<\/span><\/p>\n

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For an exchange of currencies to be permissible, the transaction should be completed in one sitting (before separating) and one or both parties should have possession of the currency that they are selling and buying (Fiqh-al-Buyu, Vol 2, Pg 698). If these conditions are not met, the trade will be impermissible.<\/span><\/p>\n

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Only Allah knows best.<\/span><\/p>\n

Written by Alimah Zakiratul Hoque<\/span><\/p>\n

Checked and approved by Mufti Mohammed Tosir Miah<\/span><\/p>\n

Darul Ifta Birmingham<\/span><\/p>\n

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