Binary Options

Answered according to Hanafi Fiqh by Askimam.org

Assalam Dear Imam,

Recently I got answer related to binary option trading which is impermissible. It was clear. If that amount of money received earlier or now due to previous trading, since at that time i am ignorant of its permissinlity, may i deposit it to someone desperately in need to pay his hire-purchase vehicle or similar difficulties? Your prompt answer is greatly appreciated. JazaakumAllahu khairan kasira. Wassalam.

Tarmize

Malaysia

Answer

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu

The profits generated through binary trading are impermissible and should be disposed of in charity to the poor and needy. If your friend is poor and needy, you may distribute the profit amount to him.

 

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

 

Checked and approved by,

Mufti Ebrahim Desai

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