Fatwa #3543313 April 2016Australia
Jazzcashcom.pk.
Question
My question is regarding some internet dealings so please can you give me reasons as to why this is permissible or impermissible.
We purchased a domain
Jazzcash.com.pk
We were anticipating that mobilink will require this and we should be able to sell them for higher price.
Risk factor was Mobilink may or may not have gone this path and stick with old brand mobicash
Since my friend works for Mobicash and we discussed and purchased this domain
Now just wanted to know if this is Halal
These internet rules are so complicated that we are not sure
Also please realise we bought the domain at a risk from our side
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
The Shariah Compliancy of commodity trading depends on the modus operandi of the transaction. Various online trading platforms offer commodity trading products and facilities. Many of the these facilities are not Shariah Compliant since they contain impermissible elements such as short selling, no possession/ownership of commodities, non-tangible goods, interest, insurance, gambling and various other impermissible elements.
Kindly advise on the modus operandi of the actual transaction/facility you refer to in order for us to provide a Shariah ruling.1
And Allah Ta’āla Knows Best
Huzaifah Deedat
Student Darul Iftaa
Lusaka, Zambia
Checked and Approved by,
Mufti Ebrahim Desai.
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1 http://www.askimam.org/public/question_detail/33997