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

Ask A Question About Islam And Muslims

16 Questions

Is short trading on Binance permissible? For instance, if I short Bitcoin and its price declines, I profit, but if it rises, I incur a loss. Does this practice resemble gambling since profit comes from the coin's price decrease?
Sayyed Mohammad Al-Musawi

Some of our Maraje’ did not give opinion in crypto currency dealings, but other Maraaje’ allow that as far as it does break the government regulations and it does not harm anyone.

Price of everything can go up or down, so it is not a gambling.

Wassalam.
Does it classify as gambling when a group of friends participate in a recreational game and decide that the person who loses will be responsible for paying a specific expense associated with the game, such as rental or booking fees?
Sayyed Mohammad Al-Musawi

Yes, it will be a type of gambling when the loser has to pay the rental or booking expenses of the winner. This is a Haraam (unlawful) in Islam.

Wassalam.
Is it permissible to work in a bookstore that sells lotteries and gambling? If you were aware of the prohibition of such activities and worked in such a shop, what should you do with the money you earned?
Sayyed Mohammad Al-Musawi

Working is unlawful business like gambling is Haraam, and the money earned from unlawful work is also unlawful. It should be given back to the original owners or given to the Marje’ of Taqleed who will spend it in helping the poor believers.

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.