Jamiatul Ulama KZN

Is it permissible to trade Forex(online)?

Published as Online Forex Trading

· 22 Muharram 1436 AH1 min readEnglish

Question

Is it permissible to trade Forex(online)?

Answer

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

As-salamu ‘alaykum wa-rahmatullahi wa-barakatuh.

The issue of online Forex trading was discussed in the Jameeatul Muftieen meeting which comprises of twelve senior Muftis of South Africa. After analyzing the details provided, Forex trading was ruled impermissible, as many of its aspects did not conform to the laws of Shariah.

And Allah Ta’ala Knows Best

Answered by
Mufti Ismaeel Bassa
Checked by
Mufti Ebrahim Desai
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Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

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Source: Jamiatul Ulama KZN — https://jamiat.org.za/online-forex-trading/
Fatawa SA: https://fatawa.co.za/fatwa/jamiat-14031

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