Dr. Monzer Kahf, a prominent economist and counselor states: Trading currency on the internet must fulfil two conditions to be permissible: 1) there must be full payment of both currencies, this rules out any margin trading; and 2) payment must be done at the time of trading not delayed for three days or not future. Payment means credit and debit into accounts of both currencies.”
Islam’s Stance on FOREX Trading
Did you like this content?
Recommended
Islamic View on Marrying Cousins
Istikharah prayer on marriage: signs of response
Planning for Future & Belief in the Unseen: Incompatible?
Why should anyone choose Islam?
Unique Features of Islam
Understanding Self-Worth and Patience in the Face of Adversity: A Spiritual Perspective
The Authority of the Sunnah
Guide for Righteous Merchants
Use of Power and Its Relation to Corruption in Islam
Why Islam Forbids Homosexuality
Top Reading