Shaykh Shafiq Jakhura

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Online Bullion (gold) trading

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Purification of Impurities

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Arriving late for Jumuah

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Some Questions that affect women

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Working in a Conventional Bank Data Center

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Want to accept Islam but fear I won’t manage certain injunctions

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Question on Taqdeer

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Difficulty Sustaining Wudu

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Divorce Ordered by a Secular Court

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Monasticism in Islam

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Is Rahman a Valid Name for a Person?

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Qada Umari: Making up Salats Missed in a Lifetime

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Franchise of a Share Trading Company

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Standing Alone Behind the Jama’ah

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Developing Options Trading Software

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Earning a Living from Tobacco Sales

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When to Rise up to Complete Remaining Salah In Jama’ah

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Let’s say, I invest $1,000, the broker invests or lends $99,000 and together we buy the currency like euro worth $100,000. The broker will not charge any interest on the money that he invested or lend, because it will be a Shariah compliant account. – If the rate of the euro goes up and I decide to sell the euro. The broker will take a small share of the profit and rest is given to me – If the rate of the euro goes down below a certain margin which is determined by the amount I invest, my broker will close the trade and take his money back and I will lose the money I invested. Also, another place were interest may be involved is when the buying and selling is not done on the same day, then a rollover occurs which mean that either we have to pay interest or give interest on the currency you have bought, but the brokers is offering a swap free or interest free accounts for Muslims only, in which, even if you do not close the trade on the same day, they will not debit or credit any interest. I am interested in Spot trading not Future trading. Please let me know if this type of trading is Halal.

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