Mufti Online — Madrasah Ta'leemuddeen

Trading in crypto currencies, normal currencies and trading in stocks

· 27 Jumada I 1444 AH1 min readEnglish

Question

I want to ask you about the permissibility of trading, in crypto currencies, normal currencies and trading in stocks, in Islam.

Answer

Our ulama have not approved of trading in crypto currencies.

If the currencies are sold on the spot and possession is taken then it is permissible.

We strongly discourage trading in the stock market due to the discrepancies in the dealings of many companies.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/33531
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-33531

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