Ask Qul - Business / Investment - Foreign currency trading

Pearl of Wisdom

One who draws evil omens or believes evil omens drawn by others, or predicts the future or has his future predicted for him, or practices magic or has magic practiced for him, is not one of us.'

Prophet Muhammad al-Mustafa [sawa]

al-Targhib wa al-Tarhib, v. 4, p. 33, no. 4

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Question : #617

Category: Business / Investment

Subject:	Foreign currency trading
Question:	Salam alaikom Brother can you please indicate according to the Islamic law, is trading in foreign currency (buying and selling) permitted? Thanks
Answer:	Buying and selling foreign currency, at market price and for more or for less, is in order. There is also no difference whether selling or buying is done instantly [on the spot] or in the future.

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