Binary trade

Answered according to Hanafi Fiqh by Askimam.org

 

I wish to refer my previous question which was not answered. However the question relates to binary trade. By reading your response on Fatwa 30915 and Fatwa 31113 is it intended for such kind of tradings. An entity UKOptions claims that their trading is practicing “riba-fee policy” and also “hibah concept”. Kindly answer regarding its permissibility. Jazakumullahu khair. Wassalam.

Answer

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

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

Your query is unclear. What do you mean by is it intended for such kind of tradings”?

We require more details of UK Option’s Islamic trading policy in order to for us to comment. You may also contact Mufti Faraz Adam al-Mahmudi for further assistance at http://darulfiqh.com/ask-a-question/.

 

 

 

And Allah Ta‘āla Knows Best

Fahad Abdul Wahab

Student Darul Iftaa

USA

Checked and Approved by,

Mufti Ebrahim Desai                                                                                                                                                                                                                

www.Daruliftaa.net

 

 

 

 

 

 

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