Currency speculation and Islamic law
Spreads to the question about the legitimacy of dealing in speculative currency among many distinguished scholars and scientists and traders on the analysis of global currency trading market. The biggest question for most traders and investors Muslims is: Is it permissible to deal in currencies which are traded over the Internet? What is the opinion of Shari'a in delaying the deal, as well as late delivery (clearing) from one day to two days after the termination of the contract? He answered many of the muftis on the legality of this issue, which has spread widely on the Internet.
Briefly to you the response from Sheikh Mufti scholar Dr. Yusuf Abdullah al-Qaradawi from the site of Islam Online :
"Parent legal to sell the money and buy each other: to be a hand to hand, as was narrated in the hadith, the Messenger of Allah - peace be upon him - in the sale of the six species known to each other. And here is not correct delays in contracts for the sale money, but should from the same sitting of the Council, as in the hadeeth of Ibn Umar: "The Tnasrva not you get nothing." is that the arrest is subject to known and arrested all to another. and Shara have left to identify many of the things people know, as mentioned by Imam Ibn Qudaamah and others, including the arrest in sales. As long as the immediate arrest norm is not only the way in which I have mentioned, and separated on forward sales, the on legitimate to capture it is satisfied by, and for which there provisions place religiously .. With the check arrest depending on the need for modern, the cases of necessity, it is not permissible for bank Islamic selling what he has bought only after the actual arrest of customary law. and God knows best. "
To read more opinions from the world's currencies and the forex market, visit the page "Forex and Islamic religion" from the "Daily Forex".