In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer: Retail conventional Forex trading, where individuals are merely speculating on currency pairs, is non-Shariah Compliant. Brokers which offer Islamic FX accounts advertise their product with ‘no rollover/swap fees’. What is more important to determine is whether or not … More Is Retail Forex Trading Shariah Compliant?
Question: Index-linked-saving certificates: These are on sale intermittently and for a term of 3 or 5 years. At the end of the term one can cash them or renew them for another term. The purpose is to keep the purchasing power of the money as when it was put in. This is done by adding … More Are The NS&I Index Linked Savings Certificates Shariah Compliant?