Fatwa #3662926 August 2016Malaysia
Binary Options
Question
Assalam Dear Imam,
Recently I got answer related to binary option trading which is impermissible. It was clear. If that amount of money received earlier or now due to previous trading, since at that time i am ignorant of its permissinlity, may i deposit it to someone desperately in need to pay his hire-purchase vehicle or similar difficulties? Your prompt answer is greatly appreciated. JazaakumAllahu khairan kasira. Wassalam.
Malaysia
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu
The profits generated through binary trading are impermissible and should be disposed of in charity to the poor and needy. If your friend is poor and needy, you may distribute the profit amount to him.
And Allah Ta’āla Knows Best
Ismail Desai,
Darul Iftaa
Checked and approved by,
Mufti Ebrahim Desai