Question ID: 25027
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Asalaamualykum,

I having been actively involved in share trading on the JSE for some-time now, and have ensured that the companies that I invest in are Islamically acceptable (No banking shares, alcohol, or retailers that allow accounts where they charge interest).

I have been given an opportunity to invest in FOREX (Foreign Exchange), and am keen but also concerned as Islamically I cannot determine whether this is permissible or not? Unlike shares, I am investing in Money (USD, GBP, Euro, etc.) and Minerals (Gold, Silver, Diamonds, etc.).

Can you please advice me if this is Islamically permissible?

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Asked on June 16, 2009 12:00 am
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Ulema are not happy with this kind of transaction.
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Answered on June 16, 2009 12:00 am