FatwaPenangZakat
Fatwa Mengenai Hukum Pembayaran Zakat bgai Perdagangan Pertukaran Mata Wang Asing (FOREX)
What is the ruling on individual spot Forex trading and how is zakat applied in Penang?
Short answer
The Penang State Fatwa Committee ruled that individual spot foreign currency exchange trading through electronic mediums is forbidden because it contradicts Syariah requirements.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Penang State Mufti Department
- Status
- Fatwa committee decision
- Series
- Himpunan Fatwa (Warta)
- Topic
- Zakat
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Penang State Fatwa Committee ruled that individual spot foreign currency exchange trading through electronic mediums is forbidden because it contradicts Syariah requirements. Zakat is due on the principal amount only, when the conditions of zakat are met. The decision is in line with the 98th Muzakarah of the National Fatwa Committee held on 13-15 February 2012.
Written in our own words from the original fatwa — check the source before acting on it.
Zakat dikenakan ke atas wang pokok sahaja apabila memenuhi syarat -syarat zakat.
Read the full fatwa on the Penang website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Penang State Mufti Department. “Fatwa Mengenai Hukum Pembayaran Zakat bgai Perdagangan Pertukaran Mata Wang Asing (FOREX)”, date not stated. https://mufti.penang.gov.my/index.php/awam/fatwa-1/himpunan-fatwa#fatwa-mengenai-hukum-pembayaran-zakat-bgai-perdagangan-pertukaran-mata-wang-asing-forex. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-individual-spot-forex-and-zakat-penang/