
Question
I bought the dollar when the dollar was low and a few days later when the dollar rose I sold it. Is this business of buying and selling dollars halal or haram according to Islam? Note: The overall development of a country, interest rates, inflation, how much gold is deposited in the central bank, etc., are all factors that reduce or decrease the value of these currencies. 1249279246
Answer
- حامداومصلياومسلما، بسم الله الرحمن الرحيم -
Is currency trading legal? In this case, there are two issues. E.g.
- Is it legal to buy or sell the currency of one country in exchange for the currency of another country?
- Is it permissible to buy or sell the currency of the same country?Transactions of currencies of different countries It is permissible to sell the currencies of one country for less than the currencies of another. However, in this case, at least one side of the meeting must seize the money. If one does not acquire their exchanged currency, the purchase and sale will not be permissible.For example, Bangladeshis are selling money for dollars. In this case, the person who bought the dollar will acquire the dollar at the buying and selling meeting. Or the one who bought the money will take the money in that meeting. If both of them acquire the currency they purchased, then so be it. But at least one of the conditions to be acquired. And if neither of them acquires, but the whole remains, then the purchase and sale is not permissible.Mutual transactions of the currencies of one country Equality must be maintained during the mutual transactions of the currencies of the same country. If you sell more or less, the purchase and sale will not be permissible. For example, if the American dollar sells for the US dollar, then it will not be permissible to sell more or less. It will be permissible if it is equal. That means you can sell for only ten dollars for ten dollars. Buying and selling less than this will not be permissible. 3129245132
- والله اعلم باالصواب -
* This Fatwa was translated by Google Translate.
To see the original click here
Source
- هداية, Part: 3, Page: 85
- مستدرك على الصحيحين, Part: 2, Page: 65
- شرح معانى الآثار, Hadith No.: 5,554
- سنن الدرقطنى, Hadith No.: 3,060
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