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The question

Is Forex permissible if it is free from margin interest and overnight fees, and transactions are executed instantly within the bank?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

It is forbidden to deal with the margin system if the broker stipulates to the client that his buying and selling must be through him, so that the broker benefits from the commission, even if no interest is calculated. This is due to the Lawgiver's prohibition of "a loan and a sale" simultaneously. It is permissible to deal with the forex system if a lender is found who does not stipulate that dealings be through him, and a constructive or actual possession occurs at the contract session of the deal.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
185618
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.
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Read the full answer on Ftawy