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Islamic Forex

Open an Account Here. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. Trading Point does revert to such practices, again demonstrating that Trading Point offers fair and ethical trading conditions. Fear Allaah and give up what remains due to you from Ribaa from now onward if you are really believers. For example, a friend has just returned from her holiday in England.

Image: PhotoXpress Many of us have heard of the terms “forex” and “foreign exchange”. “Forex” refers to the “market” in which international currencies are traded 24 hours a day, every weekday. The term “foreign exchange” generally refers to the exchange of one currency for.

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About Forex Islamic Accounts

Is it permissible to deal in currencies in the foreign exchange market forex over the Internet What is your opinion regarding the issue of tabiyeet stipulating End quote from Majallat al-Majma’ al-Fiqh al-Islami, issue no. 22, p. We ask Allaah to guide us and you. And Allaah knows best. Islam Q&A. The difference lies in the fact that unlike most forex companies who substitute additional fees by widening the spread on Islamic accounts, XM imposes no additional charges. In order to abide by the religious law of Islam, traders of Islamic belief are forbidden to pay interest. Understanding The Theory and Practice of Islamic Forex Trading. Before we understand Islamic forex trading we need to acquaint ourselves, albeit briefly, with Islamic finance. Guest Contributors Understanding The Theory and Practice of Islamic Forex Trading. All FM News.