www.bernama.com - KOTA BAHARU, Feb 15 (Bernama) -- The National Fatwa Council today ruled that foreign exchange trading (forex trading) is forbidden (haram) for Muslims.
Council chairman Tan Sri Dr Abdul Shukor Husin said forex trading is against Islamic law and creates confusion among Muslims.
"A study by the committee found that such trading involves currency speculation, which contradicts Islamic law. (source)
"For that reason, the National Fatwa Council has decided that it is haram for Muslims to be engaged in such trading," he told reporters after chairing the Council's 98th conference here Wednesday.
Abdul Shukor said Muslims should not engage in forex trading as there are many doubts about it and it involves individuals using the internet, with uncertain outcomes.
Source: http://www.bernama.com/bernama/v6/newsindex.php?id=645920 - Feb 16, 2012
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