Fatwa #1319626 July 2005United States of America

trading in forex

Question

Is Forex trading allowed. If there is no fatwa, can we trade before the fatwa.

I want to trade in the currency market (Forex trading) but I could not find a fatwa. Now if there is no fatwa, what is the position of a muslim in the pursuit of a question like that.

Answer

The issue of Forex is under research.

In principle, when one does not know if anything is permissible or not, he cannot simply engage in that act without getting clarity on the issue.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

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