and providing references to the fundamental Islamic sources. Many points of view exist on different aspects of on-line Forex trading including spot trading, futures and options trading, margin trading, overnight interest, etc. Accordingly, the objective of Islamic finance is also the well being of people in this life and in life Hereafter.
In an effort to be Sharia compliant, the accounts do not have interest involved but still allow open positions for indefinite long periods. The majority of the Islamic jurists agrees that Forex trading can comply arnaque crypto monnaie with. The, sharia is the religious law Allah directly gave to his Prophet (peace be upon him). I strongly recommend reading this article to all Muslim traders and those who want to start trading Forex while remaining a lawful Islamic believer. Apparently, the situation with Islamic Forex trading still remains quite unclear. Two features of Islamic finance distinguish the system from conventional finance. You just pay transaction fees. Mohammed Obaidullah proves margin Forex trading to be legal for Muslims, as long as it doesnt involve any Riba (unlike some other Islamic jurists who look at margin Forex trading as forbidden activity). Instead of buying and selling bananas or furniture I would buy and sell currencies. In the second installment of this series on Islamic finance, I shall look in greater detail at risk or gharar, as it relates to currency and commodity trading.
The generally accepted arguments are that earning money through interest involves no self-exertion by the lender, and causes oppression to the borrower. Basic prohibitions in Islamic finance are: (1) Interest or riba.