Is Trading Forex permissible?

forex

Question:

Is Forex permissible?

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The issue of trading in currencies on the Forex market was critically and extensively researched by the Jam`īatul Muftīn (Council of Muftis) in South Africa.  Majority of the members of the Council agreed to the impermissibility of trading Forex.

And Allah Ta’ālā Knows Best

Mufti Faraz Adam al-Mahmudi,
www.darulfiqh.com

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