Is it permissible to trade in currencies?
Machine translationRead the Arabic original
Question:
This person is asking about a company that established a fund. I have no involvement in this matter, so we will submit it for a fatwa.
Answer:
Yes, this person is asking about trading in currencies. This is called currency exchange (sarf). It is permissible to trade in currencies, but with the condition of immediate exchange in the presence of both parties, such that they do not separate while anything remains unexchanged. If they separate without exchanging anything, the remaining unexchanged amount becomes riba (usury or interest). It becomes riba al-nasi'ah (usury of deferment), and it is not permissible. Immediate exchange in the presence of both parties is required, such that they do not separate until each one has received his money.
This person is asking about a company that established a fund. I have no involvement in this matter, so we will submit it for a fatwa.
Answer:
Yes, this person is asking about trading in currencies. This is called currency exchange (sarf). It is permissible to trade in currencies, but with the condition of immediate exchange in the presence of both parties, such that they do not separate while anything remains unexchanged. If they separate without exchanging anything, the remaining unexchanged amount becomes riba (usury or interest). It becomes riba al-nasi'ah (usury of deferment), and it is not permissible. Immediate exchange in the presence of both parties is required, such that they do not separate until each one has received his money.
Source
قناة «العلامة الدكتور صالح الفوزان»، هل يجوز الاتجار في العملات؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.