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The question

Is the transaction considered permissible if commercial deals are closed before 5:00 PM New York time to avoid the calculation of Riba (interest) on open deals?

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

Congratulations to you for freeing yourself from usury, for it is a cause for war with Allah and for annihilation, as Allah the Almighty says: "O you who have believed, fear Allah and give up what remains [due to you] of usury, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger" [Al-Baqarah: 278-279], and His saying: "Allah destroys usury and gives increase for charities" [Al-Baqarah: 276]. The Prophet, peace and blessings be upon him, cursed the one who consumes usury, the one who feeds it, its scribe, and its two witnesses. What you are doing by closing the deal is incumbent upon you, but there are other prohibitions in the stock market that you must avoid.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
119967
Imported
Translation status
Source text, unreviewed
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