currency Archives - Page 3 of 30 - IslamQA

Is FOREX trading permissible?

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Question: Assalaamualaikum, I could not successfully submit questions via the website, so I’m using this medium as an alternative. Can you advise if the transaction described in the attached PowerPoint presentation and links below is permissible. (Regarding permissibility of FOREX Trading) Faheed Mohammed. Trinidad & Tobago Answer: In the Name of Allah, the Most Gracious,… read more »

Hajj while Still Repaying Loan Installments

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Answered by Shaykh Yusuf Badat Question: My husband had taken a car loan and the repayment installments will continue another 2-3 years. We are planning to perform Hajj very soon. Would it be permissible to perform Hajj during the loan repayment period? Answer: Jazakumullahu Khayran/ Thank you for your question. May Allah bless you for… read more »

The Multiple Marriages of Prophet (peace be upon him)

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Answered by Shaykh Yūsuf Badāt Question: Why did the Prophet (peace be upon him) have multiple marriages? Isn’t this bad? Answer: In the Name of God, Most Merciful, Most Kind Jazāk Allāh Khayr/  Thank you for your question. All Prophets (peace and blessings upon them) remain of high status, ethics, and exemplary character, even though… read more »

The Shar’ee ruling regarding futures

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Q: What is futures and is it permissible? A: Futures are contracts where a person agrees to purchase (offer and acceptance) some commodity or currency etc. at a future date. However, in practice, both parties do not intend to actually exchange that commodity. Rather at the due date (date of maturity), the difference between the… read more »