What Is Halal Forex? Earning Money In Forex Is Lawful?
Investing in forex, trading with this money is a sin? If it is a sin, then why is so? Forex is lawful? Money which I earned in forex market is halal? Or it is unlawful in accordance with Islamic literature? Is transaction made in forex market appropriate in religion of Islam? Is money earned counted as halal income? After the beginning of forex market in Turkey, then many questions arose in minds to find out whether these transactions are halal for investors or those who planned to invest on this market. At the same time, many answers have been given for these questions and articles written. Being halal of earned money, not gaining from other any one’s harm, being without interest are so important for Muslims of course. Let me clear out these question which prevents many religious people from entering this market with mind at peace. Additionally, it is important to state that we are not an authority to give a fatwa in this field.
In accordance with Islamic religious law;
Forex is a market in which foreign currencies is bought at low prices form a countries market in order to make profit through sell it with high prices in other markets. This makes this market a place for salt trade which is counted as halal in Islamic religious law. This market is opened for currency trade. Transaction in forex are made for making money by exchange benefiting from difference of values between foreign currencies. Money trade which means buying a money currency with other and vice versa, is defined as “sarf akti” (in Turkish). While there is no unearned gain in this trade, it is right in Islamic religious law. As a result, it might be said that forex without interest is halal in accordance with religious law.