FatwaNegeri SembilanTransactions & Finance
Parameter Perdagangan Forex oleh Individu Melalui Platform Elektronik
Is individual forex trading through electronic platforms permissible in Islam?
Short answer
The fatwa rules that individual spot forex trading through the electronic platforms currently available is haram, as it conflicts with Shariah requirements and is also unlawful under the law.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Negeri Sembilan Mufti Department
- Status
- Fatwa committee decision
- Series
- Fatwa Negeri Sembilan
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The fatwa rules that individual spot forex trading through the electronic platforms currently available is haram, as it conflicts with Shariah requirements and is also unlawful under the law. Muslims are prohibited from taking part in this kind of currency trading. The ruling does not apply to currency exchange at licensed money changer counters, or to foreign currency exchange carried out by financial institutions licensed under Malaysian law.
Written in our own words from the original fatwa — check the source before acting on it.
Selaras dengan itu, umat islam adalah dilarang daripada melibatkan diri dalam perdangan matawang seumpama ini.
Read the full fatwa on the Negeri Sembilan website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Negeri Sembilan Mufti Department. “Parameter Perdagangan Forex oleh Individu Melalui Platform Elektronik”, date not stated. https://muftins.gov.my/fatwa/parameter-perdagangan-forex-oleh-individu-melalui-platform-elektronik/. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/is-individual-forex-trading-online-permissible/