Forex Fatwa ruling of Islamic law

According to Shariah law, Muslims are forbidden to take or give any type of interest. This presents a problem in Forex trading since there are fees such as rollover fees and others. Forex Islamic accounts wave all such fees and there is no interest whatsoever in a Forex Islamic account in accordance to the Forex Fatwa ruling in Islamic Law

On the immediate payment in the sale and purchase of currencies

Q: We hope that the Grand Sheikh shows us how the validity of this transaction:

1. The Islamic Bank determines the currency in which wants to buy it through the TV screens that are linked to the currency market in different countries such as New York, London and Tokyo … (Assume that the currency set by the Bank is the U.S. dollar). Continue reading »

Dealing in Margin through the Stock Exchange

Q: Prof. Dr. / Ali Mohi-Din Al-Qara Dagi – may God protect him
Greetings, and after
There have been a transaction in the stock market appeared, its conclusion as follows:
Is it permissible to deal with the global stock markets by contracting with local companies featured as an Agency in the following manner:
The Principal and entrusted signing the agency contract under which the local company is entrusted to be the agent broker Continue reading »

Working in the intermediary companies in the global stock

Q: Looking for information on investing in currencies (FOREX Market). As is the case these days, it has become commonplace that many people invest in the euro for profit. A broker call me always to invest in U.S. dollars and the euro. Is it permissible to trade in currencies? Continue reading »

The rule of trade in currencies

Q: Looking for information on investing in currencies (FOREX Market). As is the case these days, it has become commonplace that many people invest in the euro for profit. A broker call me always to invest in U.S. dollars and the euro. Is it permissible to trade in currencies?     Continue reading »