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Yasir Qadhi

Yasir Qadhi - Ask Shaykh YQ #64

Yasir Qadhi

Muslim Central

Society & Culture, Islam, Religion & Spirituality

4.81.3K Ratings

🗓️ 12 June 2020

⏱️ 17 minutes

🧾️ Download transcript

Summary

FOREX and Currency Trading. In a fast-moving world like today, some of us are often looking for alternative ways to make money. One of the things many people do is FOREX trading, which is when different currencies are traded with the goal of making a profit. Is this something that is permissible in Islam?

Transcript

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0:00.0

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0:04.0

What is the ruling on currency exchange and on what is called

0:09.0

4X trading?

0:11.0

So what is the ruling on currency exchange and 4X trading? L'A I D. Jala, Nuh He I'm,

0:25.0

Fass alu, aha la Dikriin,

0:30.0

kuntum la Tala moor. So we begin by stating that the exchange of currencies in and of themselves is of course something that is allowed by unanimous consensus

0:45.1

and by explicit traditions of the Prophet

0:49.0

of Allah al-A-I was.

0:50.4

And the famous Hadith of Urbada bin Osama bin Osama

0:52.2

reported in Sahim Muslim,

0:54.0

our Prophet Allah who I said,

0:56.0

Ahhibbibidh,

0:57.0

well Fytubil fyt,

0:58.0

but fyt, and fyt-tuil fyt,

1:01.0

well milh-h-hir, So our prophet, Baru, Barli, we'll huilh, Yad and Biain, Sawa,

1:04.0

from Anzada, a wistazade, a fakadah arba.

1:07.0

So our prophet, Allaha is al-Salais said that exchanging gold for gold,

1:11.0

and exchanging silver for silver, and exchanging wheat for gold and exchanging silver for silver and exchanging wheat for wheat and barley for barley

1:16.6

and in one version salt for salt and one version date for dates

1:20.3

as long as it is done yed and bied y. Yed and Bied means we do the transaction right then and there.

1:26.1

One hand gives the other hand takes.

1:27.8

Sawa and Bissawa.

...

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