Question Summary:
Is investing in forex trade permissible?

Question Detail:

According to Mufties, forex trading is not permissible

Answer :

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

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

The permissibility or prohibition of dealing in forex is not based on one personally dealing in forex. The ruling depends on the actual forex procedure. If the forex procedure is not shariah compliant, it will be prohibited even though it is conducted through by a company or an agent.

And Allah Taala Knows Best

Mehrazur Rahman

Student Darul Iftaa

Brooklyn, NY, USA

Checked and Approved by,
Mufti Ebrahim Desai.