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Submit any pending changes before refreshing this page. Please include your IP address in your email. Principles of Fiqh » Jurisprudence and Islamic Rulings » Transactions » Business and Financial Transactions » Investment. What is also your opinion about the clearing process which is to delay submitting one to two days after the contract ends. It is permissible to deal in currencies if the deal is done hand to hand and the transaction is free of conditions that stipulate riba, such as the stipulation of fees for delaying the deal, which is interest that is charged to the investor if he does not take a decision concerning the deal on the same day. With regard to hand to hand exchange, this has been discussed in the answer to question no.
Praise be to Allaah alone and blessings and peace be upon the one after whom there is no Prophet, our master and Prophet Muhammad, and upon his family and companions. Loans, which refers to the money given by the agent to the customer directly if the agent is a bank, or via a third party if the agent is not a bank. Riba, which occurs in this transaction in the form of fees for delaying the deal. This is interest that is charged to the purchaser if he does not make a decision on the same day, and which may be a percentage of the loan or a set amount. The pledge, which is a commitment signed by the customer agreeing to leave the contract with the agent as a pledge for a loan, giving him the right to sell these contracts and take back the loan if the customer’s losses reach a specific percentage of the margin, unless the customer increases the pledge in order to compensate for a drop in the price of the product. This is a kind of haraam riba. And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums.
1- Dealing in bonds, which comes under the heading of riba which is haraam. This was stated in a resolution of the Islamic Fiqh Council in Jeddah, no. 2- Dealing indiscriminately in company shares. The fourth statement of the Islamic Fiqh Council of the Muslim World League in its fourteenth session in 1415 AH stated that it is haraam to deal in the shares of companies whose main purposes are haraam, or some of their dealings involve riba.
3- Selling currencies is usually done without the hand to hand exchange which makes them permissible according to sharee’ah. 4- Dealing in options and futures. A resolution of the Islamic Fiqh Council in Jeddah no. The same applies to futures and trading in indexes.