"دورحاضرمیں کرنسیوں کےاُدھارخریدوفروخت کاشرعی جائزہ Foreign Exchange Trading in the Present Era: A Review from the Islamic Perspective "

Abstract

"Abstract: Foreign Exchange trading is when you buy and sell foreign currencies to generate profit. In our age of advance technology even the virtual or digital currencies have now emerged. This entire business however is mostly based upon speculation and prediction. Even the most skilled and experienced traders face difficulty in predicting movements in currencies. Further, the value of not well established currencies can fluctuate or its exchange rate value can change any time. In view of occupying central place in the economic systems down the ages, Muslim scholars have also vehemently discussed currency, its significanc and matters relating to it in transactions. The present article reviews trading of foreign currencies from Islamic perspective in a situation when no cash is involved in the transaction. The article concludes that as the currencies in such transactions are different commodities, therefore their trade is legal. "