Welcome Guest Log In Register. Read latest posts or hide this alert. Share on Track this topic Print this topic. Dec 7 , Show posts by this member only Post 1. I'm curious need to know about status for Forex right now in Muslim view. Some forum already ban the thread regarding about Forex. Just need to know from muslim investor here about they opinion about Forex. Show posts by this member only Post 2. I asked jakim through musykil islam.
They said forex is haram because of jual beli atas angin. I can't access their exact answer to me because their website is currently under maintenance. Show posts by this member only Post 3. Show posts by this member only Post 4. So how about shares and mutual fund for Muslim point of view? Show posts by this member only Post 5.
Show posts by this member only Post 6. Halal unless you trade USD. Show posts by this member only Post 7. Show posts by this member only Post 8. Is Haram la oi Show posts by this member only Post 9. Show posts by this member only Post Depend on Forex Company. You can ask Ustaz Zaharuddin for futher explaination. SOme company provide Halal Forex Program.
All haram, forget about doing business. No one will feel comfortable doing business with you. All of them only want their own way. If you care so much about haram and halal, you are not belong to the world of finance and business.
Go to cave or North Korea Bursa is getting sked with the upcoming merger plans between SGX and ASX which will result in a world trading giant in this region. So kiasu already and thus faster call it haram. Fort Canning Garden Status: Dalam Sunnah Nabi, hanya terdapat larangan menjual barang yang belum ada, sebagaimana larangan beberapa barang yang sudah ada pada waktu akad. Land below the wind.
Why are cigarettes haram? Added on December 7, , 5: You can be addicted to water or chocolate or books or the Internet. You win and lose, and win and lose, eventually the only one that has a steady income is the broker. Is Forex Currency Trading halal? I have attached a document detailing the aspects of the business.
I went through the papers sent by you. I am of the opinion that these transactions are not compliant with Shariah. The very condition that you cannot take delivery of the purchased currency makes it impermissible.
Moreover, there are other elements according to my knowledge that makes this trade unlawful in Shariah, such as, forward sales, short sales etc. This is in addition to the fact that the currencies are originally a medium of exchange and should only be exchanged for personal use in different countries. To make them a tradable commodity only for earning a profit is also against the basic philosophy of Islamic economics.
I would therefore not advise you to indulge in this trade. Eh, do you think addiction to chocolate or sugar or coffee or the Internet doesn't lead to multiple health problems?
If you think about it, opening a business is also a gamble. You might profit, you might bankrupt. Dec 8 , When paid on the spot.. I'm not talking about casino gambling.
But friends betting on the result of a football match later tonight. Not being a Muslim, it's not my place to pronounce it halal or haram. But I don't see it as different from gambling. And for that reason, my own religion does not allow it either and so I stay away from it. As for shares, do you buy a blue chip stock like BP and wait for the yearly dividend, or do you buy it hoping that it will rise in price so you could sell it and gain a profit.
Guess which one is gambling Blindly putting your money in something you dont understand is a sure gamble.. Use a swap free account 2.
Use oversea broker 3. Trade only for yourself The recent uproar is because some forex brokers provide "class" for their customers to teach them how to trade under their broker account. However when you were train to trade 10 times a day you will be caught in a bad trade one way of another. It doesn't matter to the broker whether you make money or not with their methods because every time you trade they profit from spread of the currency pair.
You can't stereotype this market just like that, because at the end of the day FOREX is about currency which is the largest money transaction made per day. FOREX trading is gambling to people who "guess" where is it going.
Unless you have knowledge like what Shamn said then you are going to gamble in the market. Everything we do have a risk, the difference is whether you know how to minimize the risk involve by technical charting analysis and proper money management. If im not mistaken Saudi people alot dont do Stocks, but they go Forex instead because as that ustad said in the 1st page video, Forex u trade urself without delay is halal.
But hedge funds etc is haram for forex. Dec 9 , Mesyuarat juga mengambil maklum: Tukaran wang telah lama berlaku dalam Ringgit Malaysia dalam Rial tujuan untuk menunaikan ibadah haji.
Bertujuan untuk memenuhi keperluan hajat,bukan untuk mencari keuntungan semata. Kebebasan perniagaan mata wang boleh mengakibatkan keruntuhan nilai ekonomi Negara. Maka yang diharuskan hanya untuk memenuhi hajat semasa sahaja. Tukaran wang adalah keperluan ekonomi untuk pembangunan Negara.
This post has been edited by Shamn: Dec 10 , There seems to be some confusion between FOREX trading and just changing your money from one currency to another. When people tell me FOREX trading, I imagine a person who buy and sell currencies repeatedly, in order to make a profit as the exchange rate goes up and down. Yes, if you're an expert, you would do better than the clueless newbie who knows nothing.
It reduces the risks somewhat. But it does not entirely eliminate it. Just because skill is involved does not make it "not-gambling". Meet the gamblers. Dec 11 , Kalau rase tak yakin dengan hukum jangan buat.. I heard CIMB earn a lot of money from forex Dec 19 , Forex cannot be haram as it is similar to trading stocks. Whats haram in forex? Dec 22 , I'm no Muslim but I'd say equities, abitrage , speculation would be haram if forex is so It's just political propaganda, no currecy trading means easier exchange rate policy that Malaysia is having seriously bank negara plays forex everyday.
Jan 19 , Feb 15 ,More...