Fatwa #3925019 October 2017United Kingdom
Investing on usi-tech.info (forex)
Question
There's a website USI-TECH
on this website you buy packages and they will take that money and trade it for you
so if you buy $1000 package, they will trade it and in return you'll earn $1400 after 140 days ($400 Profit)
Islamically am i allowed to invest in buying packages from this website and withdraw money after
140 days??
I'll be waiting to hear from you soon
Answer
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
USI-TECH is a technology company which specializes in the development of automated trading software in the FOREX market.
There are various types of Forex transactions and the ruling for each one differs from the other.
Kindly inform us how the trade will take place and what role you will be playing in the trade. Also, the profit amount, how did you/they conclude the abovementioned amount?
And Allah Ta’ala Knows Best
Muajul I. Chowdhury
Student Darul Iftaa
New York, USA
Checked and Approved by,
Mufti Ebrahim Desai.