Trading currencies : long and short currency contracts

Fatawa Question

Salamu Alaykum From the Fatwa bank, I read that Dealing in Foreign Currency is Halal. The question is about a more specific action in this deal. Where we have two action : (1) Long deal : Where you buy now and sell later ($ against a major currency) (2) Short deal : Where you sell now and buy later the first one is clear, where you buy something and sell later on, but the 2nd one you sell what you don't' own, so what is the Fatwa about this. Wa Salam Alaykum Masoud.

Fatwa

Click hereto view more

Publication Date

2001-02-14

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Contracts
• Finance
• Foreign exchange

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-726881

• APA
• MLA
• AMA