What is the ruling on investing in what is called a currency fund?
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Question:
Honorable Shaykh, there is a currency exchange institution that has an investment fund called the Currency Fund, where currencies are bought with other currencies, and it offers a monthly profit of five to eight percent, as the employee says. What is the ruling on this investment?
Answer:
Selling currencies to one another, if they are of the same type, requires equality in amount and immediate exchange in the meeting place. Two conditions are necessary: equality in quantity and immediate exchange in the meeting place. However, if the currencies are different, one from one country and the other from another country, the Prophet (peace and blessings be upon him) said, if these types differ,Sahih Muslim 1587c, and immediate exchange in the meeting place is required. An increase is permissible due to the difference in type, but immediate exchange in the meeting place is necessary. Yes.
Honorable Shaykh, there is a currency exchange institution that has an investment fund called the Currency Fund, where currencies are bought with other currencies, and it offers a monthly profit of five to eight percent, as the employee says. What is the ruling on this investment?
Answer:
Selling currencies to one another, if they are of the same type, requires equality in amount and immediate exchange in the meeting place. Two conditions are necessary: equality in quantity and immediate exchange in the meeting place. However, if the currencies are different, one from one country and the other from another country, the Prophet (peace and blessings be upon him) said, if these types differ,
then sell as you wish if payment is made hand to hand
فبيعوا كيف شئتم إذا كان يدا بيد
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم الاستثمار في ما يسمى صندوق العملات؟ #فتاوى الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.