IslamQA

Investing on usi-tech.info (forex)

Answered according to Hanafi Fiqh by Askimam.org

There’s a website USI-TECH

on this website you buy packages and they will take that money and trade it for you

so if you buy $1000 package, they will trade it and in return you’ll earn $1400 after 140 days ($400 Profit)

Islamically am i allowed to invest in buying packages from this website and withdraw money after
140 days??

I’ll be waiting to hear from you soon

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

USI-TECH is a technology company which specializes in the development of automated trading software in the FOREX market.

There are various types of Forex transactions and the ruling for each one differs from the other.

Kindly inform us how the trade will take place and what role you will be playing in the trade. Also, the profit amount, how did you/they conclude the abovementioned amount?

And Allah Ta’ala Knows Best

Muajul I. Chowdhury

Student Darul Iftaa

New York, USA

Checked and Approved by,
Mufti Ebrahim Desai.

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

Find more answers indexed from: Askimam.org
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