Fatwa #125512 September 2004South Africa

Is it permissible to trade in warrants and futures?

Question

Is it permissible to trade in warrants and futures as detailed in the following websites? (This actual website will be used to transact in these financial instruments) http://www.moneymax.co.za/sawarrants/displayarticles.asp?ArticleID=298402&Ti cker= http://www.moneymax.co.za/sawarrants/displayarticles.asp?ArticleID=298030&Ti cker=

Answer

It is not permissible to trade in warrants and futures as it involves Gharar (uncertainty) and Qimaar (gambling)

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

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