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The question

What is the appropriate method for trading in the global commodity exchange in an Islamic way, and is it possible to establish a brokerage firm that complies with Islamic Sharia?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The immediate exchange (hand-to-hand) is a condition for buying and selling gold, silver, and currency, based on the Prophet's (peace be upon him) saying: "Gold for gold, silver for silver... like for like, equal for equal, hand to hand. If these types differ, then sell as you wish, provided it is hand to hand," and "Do not sell something absent for something present." This does not, however, preclude trading permissible commodities and stocks on the stock exchange or online. As for establishing a brokerage company in this field, its ruling depends on the nature of its work, and it is advisable to present the project to specialists to ascertain its permissibility.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
18491
Imported
Translation status
Source text, unreviewed
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