Fatwa #3512716 February 2016Malaysia
No Riba Policy
Question
Hope you are well. Ameen.
Will the trading or investment be considered halal if it claims to be:
.Sharia Compliant Investment
◦No Riba Policy:
.No additional charges or hidden fees
◦Swap-Free Accounts: No interest rates for prolonged open positions or overnight open positions
The above information were obtained from an entity: BigOption, which mentioned that they provide Islamic Account.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Kindly send us the full scheme and contract for us to evaluate. The information provided above is insufficient. We cannot issue a ruling based on few broad clauses mentioned above.
And Allah Ta’āla Knows Best
Bilal Issak
Student Darul Iftaa
Leicester, England, UK
Checked and Approved by,
Mufti Ebrahim Desai.