Ask a Question

Write as briefly as possible. Answer will be sent to your email. Selected questions and answers will be posted on this site.

Tip: How to backup outlook express
Handy outlook express backup software tool than backup and restore email.

Monday, March 1, 2010

Trading in Currencies

Q: Can one buy and sell foreign currencies?

: Trading in foreign exchange by buying and selling currencies is totally permissible provided at least one of the two currencies is present and take into possession at the time of the transaction. If a deal of this nature is done whole none of the two commodities is present, it will not be permissible. This obviously applies to the exchange of different currencies such as rands for dollars, or dollars for riyals, and so forth.

And Allah Ta’ala knows best.

Mufti Siraj Desai