currency Archives - Page 3 of 28 - IslamQA

Find answers to your Islamic questions by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Crypto Currencies

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Q: Is day trading in cryptocurrencies halal? Day trading basically means buying and selling your shares within a day. Note, I have knowledge concerning this subject and for me it is not like gambling. What I do (and almost everyone else does) is checking the chart and based on the chart’s movements, I make a… read more »

Paper currency

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Q: I am reading about the Quran and old Islamic economic system. Is it true that if any country or bank prints paper currency more than gold or silver reserves, it will be ribah or sin? Some Islamic teachers say that paper currency is a fraud because paper currency is more than Gold reserves, and… read more »

Forex trading

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Q: I received a job online for forex trading and currency exchange. I give some amount as an investment and receive some profit daily. Is this permissible in Islam? A: No. And Allah Ta’ala (الله تعالى) knows best.   Answered by: Mufti Ebrahim Salejee (Isipingo Beach) Source

Zakaat query

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Assalamualikm, We are living a good life Allhamdulliah. We have two houses, one we live another one tenant. But we have bank loan for both houses. So we dont have any savings since what ever we save goes to loan. So what would be the zakat for us? Second question, if a woman have… read more »

Zakat on savings

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Assalam Alaikum.   Subject – Zakah while saving to buy a house.   Ramadhan Kareem. I am from India. My question – I am currently living in my Brothers house. I am nearly 40 years and would like to buy a house for myself without taking loans and paying… read more »