1. Ask A Question About Islam And Muslims
  2. Ask A Question About Islam And Muslims

Ask A Question About Islam And Muslims

13 Questions

Is spot forex trading considered permissible in Islam?
Sayyed Mohammad Al-Musawi

Yes it is permissible according to many Maraaji' of Taqleed and leading Ulamaa'.

'Wassalam.
Is spot forex trading allowed since it does not involve interest and transactions are executed instantly without delay?
Sayyed Mohammad Al-Musawi

Spot trading is allowed according to many leading Islamic scholars.

Wassalam.
Shouldn't trading in forex and stocks be considered disallowed since gambling is forbidden?
Sayyed Mohammad Al-Musawi

Gambling is definitely not allowed but not all dealings in forex and stocks are gambling. Trading is allowed and gambling is not allowed.

Wassalam.
Should I repay my debt, that was obtained in rupees, based on today's exchange rate or based on the exchange rate at the time I borrowed, considering that I earn in dollars?
Sayyed Mohammad Al-Musawi

If the difference of currency value is high, then you need to be just and not harm those who lent you by giving them less than what they gave you.

'We need to deal with others like what we expect them to deal with us.

'Wassalam.