Ask Qul - Business / Investment - Foreign currency trading

Pearl of Wisdom

'When I was taken on my Night Journey to the heavens, Inner Knowledge of Allah Gabriel took me up until a place wherein he himself had never set foot. The veils were pulled away for me and Allah, Mighty and Exalted, showed me whatever He liked from the light of His Greatness.'

Prophet Muhammad al-Mustafa [sawa]

al-Tawhid, p. 108, 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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