Is it permissible to participate in a global currency and metals trading company that guarantees 80% of the capital and risks 20%, distributing monthly profits at a rate ranging from zero to 11%?
Investing in the global currency and metals exchange is permissible if the speculator adheres to the Shariah controls. Among these controls are:
1. It is not permissible to mix the funds of capital owners unless there is explicit permission from them or a prevailing custom. 2. It is not permissible to guarantee the capital or part of it in speculation (), for the speculator does not guarantee the capital. 3. The profit for both the speculator and the capital owner must be a known share of the profit, subject to profit and loss. It is not permissible to guarantee a minimum profit, and the profit ratio must be specified. 4. If the capital owner stipulates stopping the speculation when losses reach a certain percentage and the speculator fails to comply, he is considered to have transgressed and is liable for the funds.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/81141
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 81141
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy