FatwaSarawakTransactions & Finance
Hukum forex (pelaburan dalam talian)
What is the ruling on online forex trading by individuals?
Short answer
The 98th Muzakarah of the National Fatwa Committee (2012) ruled that individual spot forex trading on current electronic platforms is haram.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Sarawak State Mufti Department
- Date
- Status
- Opinion (irsyad)
- Series
- Irsyad (Koleksi Kemusykilan Agama)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The 98th Muzakarah of the National Fatwa Committee (2012) ruled that individual spot forex trading on current electronic platforms is haram. The reasons given include riba through rollover interest, a sale conditioned on a loan through margin borrowing, unclear possession (qabd), selling currency not held, and speculation amounting to gambling, as well as its illegality under Malaysian law. The ruling does not apply to exchanges at licensed money changers or transactions by financial institutions licensed under Malaysian law.
Written in our own words from the original fatwa — check the source before acting on it.
Muzakarah bersetuju memutuskan bahawa perdagangan pertukaran mata wang asing (forex) oleh individu secara lani (individual spot forex) melalui platfom elektronik yang ada pada masa ini adalah haram kerana ia bercanggah dengan kehendak syarak dan juga tidak sah dari sisi undang-undang negara.
Read the full fatwa on the Sarawak website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Sarawak State Mufti Department. “Hukum forex (pelaburan dalam talian)”, 28 December 2022. https://muftinegeri.sarawak.gov.my/web/subpage/irsyad_list/#2022-12-28-hukum-forex-pelaburan-dalam-talian. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-on-online-forex-trading-individuals/