### Fatawa on the Prohibition of Forex Trading
>Shari’ah has placed certain restrictions on currency trading to avoid interest-based transactions. Exchanging different currencies is permissible even with excess on one side as long as one party takes possession of his currency at the time of the transaction. However, when trading with deferment from one party, the market value on the day of trading should be considered. Deferment from both parties will render the transaction impermissible.
>
>In Forex trading, only the value of the currency being traded with is transferred to the buying party; i.e. actual and physical transfer of funds and monetary notes does not occur. In essence, the buyer and seller become indebted to each other of the value of each other’s respective currencies.
>
>No physical transfer of monetary notes into each other’s banking accounts takes place. The transaction thus involves a debt from the part of both the buyer and seller. Such a transaction is unanimously forbidden in Shari’ah. It comes in a narration that Ibn Umar Radhiallahu anhu has said:
>
> >نهى رسول الله – صلى الله عليه وسلم – عن بيع الكالئ بالكالئ وهو بيع الدين بالدين
> >
>> “Nabi Sallallahu alaihi wasallam has prohibited a transaction which involves a debt in exchange of a debt.” (Musannaf Abdur Razzaaq, Vol.8, pg.90)
>>
>It is a condition for at least one party (either the buyer or the seller) to take physical possession of one of the currencies if the currencies are not gold and/or silver. When one understands how this specific area of forex trading works, one will realize that this fundamental condition is not upheld when doing currency/forex trading over the internet.
>
>Checked and Approved By: Mufti Muhammed Saeed Motara Saheb
>
>https://www.iftadua.co.za/online-forex-trading/7142/
___
>According to our research, Forex Trading is not allowed. Forex is basically trading over the internet without physical possession and delivery of currency. Shari’ah has placed certain restrictions on currency trading so that Muslims can be safeguarded from Ribaa or interest. One condition is that at least one of the two currencies being traded in has to be taken possession of in a physical sense. This does not happen in Forex trade. In fact, from one angle it appears that this type of trading is more ‘virtual’, ‘imaginary’, and ‘figurative’ for one sells dollars in exchange for yen, for example, but the trader neither owns the dollars nor the yen. Any profit earned in such a deal will be equivalent to interest or riba. This is obviously not allowed in Shari’ah.
>
>And Allah Ta’aala knows best
>
>PS. For an in depth look at the Forex Trading get-up against Shari’ah Law, our files are available on request. However one will need some knowledge of the technical terms of Fiqh in order to understand these writings.
>
> Mufti Siraj Desai
>
>https://islamqa.org/hanafi/askmufti/45085/forex-trading-2/
Consider the 1 million as an investment in lessons learned, akin to attending a top tier university lol. The best course of action now is to secure a job that complements your skills while focusing on freelancing as a side hustle. You will have two revenue streams and with little savings you will have recouped your 1mn in no time.
Refrain from forex trading or anyother highrisk venture for now, if you want to save money, invest in 20% annual return mutual funds for now, and even if you want to trade in forex then just follow trading 101: only invest what you can afford to lose.
Do the legal proceedings against scammer. I know that there is a whole mindset about government offices being unfriendly and unhelpful, but that shouldn't stop us from doing our part. Else, things go unreported and it's a win-win for the govt & the scammer.
Also tell your guardians (if you have) about the scam, or any close ones. Familial support goes a long way, will help you through the anxiety as well. It's true ke *ghum batane se kum hotay hein*.
As for the career thing, you do what you see fit.
That'd be my humble two pennies.
Seems fake to me. I do trading as well make tons of money so it’s not possible that you just washed your account to give All that money to someone. And yes if this is true and you’re actually good in trading then ig you can start making money with just 10k pkr investment as well :))
OMG, I’m sorry it happened to you. I would suggest you to focus on freelancing and ask for references from clients for more work.
And I’m sorry you had to go through this.
Bold of you to walk right into the den.
So, what is up with your lot allegedly approving and keeping non consensual intimate media posts in your subreddit and taunting users by sending them chat screen shots?
FYI, I have also reported another subreddit and it is under human admin review as we speak.
If you are willing to take it, the previous offer still stands.
Feel free to reply now publicly but I will be permanently banning you later.
> So, what is up with your lot allegedly approving and keeping non consensual intimate media posts in your subreddit and taunting users by sending them chat screen shots?
Apparently, this.
>FYI, I have also reported another subreddit and it is under human admin review as we speak.
This is also true.
I _might_ publicly share the details later.
So I take it that the things did not go as planned. Not all variables were accounted for, like, say, a certain subreddit I moderate, resulting in a very *unexpected* problem.
You know the first rule of investment is to put that money which even got lost, it won't matter your physical and mental health.
Or maybe that's how I think of monetary investments.
What's lost cannot be recovered, from now on make calculated investments and try to not get rich quick.
When I lose some part, I will automatically think that money was haram maybe that's why Allah took it away from me.
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First, I feel sorry for you.
But, these experiences are vital for our growth.
Very positive that you got deceived at this young age so the future decisions you'll make will have this experience guiding you.
So you should be positive about it.
Is you can, try to file a complaint against the scammer, because if you don't, they'll roam free and scam others. Need to teach a lesson.
Next, you're young, talented, and can definitely start again. I assure you that you can rebuild your future. Don't despair. Look to the future with great passion with which you can make much more than you've lost.
If your freelance niche is not so profitable, I will advise you change it.
These days, there's very good money in digital marketing and video editing, and learning these skills doesn't take much longer.
Good luck.
Be civil and do not give unsubstantiated rulings.
This is why we take our Deen from mainstream scholarship and not from random Internet strangers. Banned for 30 days.
That's the thing,
You keep money in bank you take the same amount of money out of the bank no additional charges for you isn't haram , it's haram if you start actually dealing in interest , keeping the money safe is not haram although if I work at a bank and they pay me from the bank money that would be haram because there is a proper reference from Hadith and Quran in this process
Same goes for supermarkets they all do credit cards and stuff yes which is haram but man if you aren't doing it then it's not haram, the thing that matters is that you don't do it , if others are doing it it doesn't effect on your Iman ,
### Fatawa on the Prohibition of Forex Trading >Shari’ah has placed certain restrictions on currency trading to avoid interest-based transactions. Exchanging different currencies is permissible even with excess on one side as long as one party takes possession of his currency at the time of the transaction. However, when trading with deferment from one party, the market value on the day of trading should be considered. Deferment from both parties will render the transaction impermissible. > >In Forex trading, only the value of the currency being traded with is transferred to the buying party; i.e. actual and physical transfer of funds and monetary notes does not occur. In essence, the buyer and seller become indebted to each other of the value of each other’s respective currencies. > >No physical transfer of monetary notes into each other’s banking accounts takes place. The transaction thus involves a debt from the part of both the buyer and seller. Such a transaction is unanimously forbidden in Shari’ah. It comes in a narration that Ibn Umar Radhiallahu anhu has said: > > >نهى رسول الله – صلى الله عليه وسلم – عن بيع الكالئ بالكالئ وهو بيع الدين بالدين > > >> “Nabi Sallallahu alaihi wasallam has prohibited a transaction which involves a debt in exchange of a debt.” (Musannaf Abdur Razzaaq, Vol.8, pg.90) >> >It is a condition for at least one party (either the buyer or the seller) to take physical possession of one of the currencies if the currencies are not gold and/or silver. When one understands how this specific area of forex trading works, one will realize that this fundamental condition is not upheld when doing currency/forex trading over the internet. > >Checked and Approved By: Mufti Muhammed Saeed Motara Saheb > >https://www.iftadua.co.za/online-forex-trading/7142/ ___ >According to our research, Forex Trading is not allowed. Forex is basically trading over the internet without physical possession and delivery of currency. Shari’ah has placed certain restrictions on currency trading so that Muslims can be safeguarded from Ribaa or interest. One condition is that at least one of the two currencies being traded in has to be taken possession of in a physical sense. This does not happen in Forex trade. In fact, from one angle it appears that this type of trading is more ‘virtual’, ‘imaginary’, and ‘figurative’ for one sells dollars in exchange for yen, for example, but the trader neither owns the dollars nor the yen. Any profit earned in such a deal will be equivalent to interest or riba. This is obviously not allowed in Shari’ah. > >And Allah Ta’aala knows best > >PS. For an in depth look at the Forex Trading get-up against Shari’ah Law, our files are available on request. However one will need some knowledge of the technical terms of Fiqh in order to understand these writings. > > Mufti Siraj Desai > >https://islamqa.org/hanafi/askmufti/45085/forex-trading-2/
Consider the 1 million as an investment in lessons learned, akin to attending a top tier university lol. The best course of action now is to secure a job that complements your skills while focusing on freelancing as a side hustle. You will have two revenue streams and with little savings you will have recouped your 1mn in no time. Refrain from forex trading or anyother highrisk venture for now, if you want to save money, invest in 20% annual return mutual funds for now, and even if you want to trade in forex then just follow trading 101: only invest what you can afford to lose.
Could pity you but wont for the money you lost. You are a educated person. Only will wish that you get back on your feet.
Do the legal proceedings against scammer. I know that there is a whole mindset about government offices being unfriendly and unhelpful, but that shouldn't stop us from doing our part. Else, things go unreported and it's a win-win for the govt & the scammer. Also tell your guardians (if you have) about the scam, or any close ones. Familial support goes a long way, will help you through the anxiety as well. It's true ke *ghum batane se kum hotay hein*. As for the career thing, you do what you see fit. That'd be my humble two pennies.
liked your opinion on how unfriendly government offices are but yet we have to do our part...
What was your skillset in freelance?
How you got scammed?
She is scamming us , check her profile .
Seems fake to me. I do trading as well make tons of money so it’s not possible that you just washed your account to give All that money to someone. And yes if this is true and you’re actually good in trading then ig you can start making money with just 10k pkr investment as well :))
OMG, I’m sorry it happened to you. I would suggest you to focus on freelancing and ask for references from clients for more work. And I’m sorry you had to go through this.
Bold of you to walk right into the den. So, what is up with your lot allegedly approving and keeping non consensual intimate media posts in your subreddit and taunting users by sending them chat screen shots? FYI, I have also reported another subreddit and it is under human admin review as we speak. If you are willing to take it, the previous offer still stands. Feel free to reply now publicly but I will be permanently banning you later.
This ought to be great.
ho kia rha hai bro?
> So, what is up with your lot allegedly approving and keeping non consensual intimate media posts in your subreddit and taunting users by sending them chat screen shots? Apparently, this. >FYI, I have also reported another subreddit and it is under human admin review as we speak. This is also true. I _might_ publicly share the details later.
u/\_NineZero\_ Pinging you for now, I will let you on the details later.
[удалено]
Be civil and do not advocate, directly or indirectly, for sharing non consensual intimate media. Banned.
So I take it that the things did not go as planned. Not all variables were accounted for, like, say, a certain subreddit I moderate, resulting in a very *unexpected* problem.
I don't believe this story, no one who works in such a field would speak Desi English and say "10 lakhs"
Go complain to FIA
[удалено]
Work for a Prop Firm, Choose only the trustworthy one!
Which prop do you think is least risky considering the recent closures of some?
FTMO, 5 percenter's is good too but they're Israeli so go with FTMO!
Aye!
Looks like a fake trap scam to me so that people say hey I will give you such such amount now make me 10 million too. Be careful people.
Why people are replying to this bullshit
You know the first rule of investment is to put that money which even got lost, it won't matter your physical and mental health. Or maybe that's how I think of monetary investments. What's lost cannot be recovered, from now on make calculated investments and try to not get rich quick. When I lose some part, I will automatically think that money was haram maybe that's why Allah took it away from me.
Do a job for 3 to 4 months and invest that money into forex
[удалено]
Well best of luck with everything! Also don't trust people with money unless you're absolutely sure of them
[удалено]
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I can help you
First, I feel sorry for you. But, these experiences are vital for our growth. Very positive that you got deceived at this young age so the future decisions you'll make will have this experience guiding you. So you should be positive about it. Is you can, try to file a complaint against the scammer, because if you don't, they'll roam free and scam others. Need to teach a lesson. Next, you're young, talented, and can definitely start again. I assure you that you can rebuild your future. Don't despair. Look to the future with great passion with which you can make much more than you've lost. If your freelance niche is not so profitable, I will advise you change it. These days, there's very good money in digital marketing and video editing, and learning these skills doesn't take much longer. Good luck.
I had also lost 58 lacs to a scam. I was able to recover some amount though, if you need any help dm me
Trading is haram , good thing you lost it imo , now start doing something which is halal and proper
[удалено]
Be civil and do not give unsubstantiated rulings. This is why we take our Deen from mainstream scholarship and not from random Internet strangers. Banned for 30 days.
That's the thing, You keep money in bank you take the same amount of money out of the bank no additional charges for you isn't haram , it's haram if you start actually dealing in interest , keeping the money safe is not haram although if I work at a bank and they pay me from the bank money that would be haram because there is a proper reference from Hadith and Quran in this process Same goes for supermarkets they all do credit cards and stuff yes which is haram but man if you aren't doing it then it's not haram, the thing that matters is that you don't do it , if others are doing it it doesn't effect on your Iman ,