Forex Islamic perspective, when I first learned about forex no Question that comes to my mind is "What is Forex halal". Once I was in search of some articles I quote from some book that Forex (Foreign Exchange Trading) is allowed in Islamic law. In his book Prof.. Drs. Zuhdi Masjfuk entitled Masail fiqhiyah; Capita Selecta Islamic law. Trading foreign exchange arises because of the trade goods / commodities between countries that are international. Trade (Export-Import) this would require a means to pay the MONEY that each country has its own provisions and different from each other in accordance with supply and demand between the countries which raised COMPARATIVE VALUE OF CURRENCY between countries.
Comparison between countries of the currency collected in a MARKET EXCHANGE or an international and bound in a mutually beneficial agreement. The value of the currency of a country with other countries is changing (fluctuating) at any time according the volume of demand and supply. The demand and supply are what caused the transaction currency. That actually was the exchange of different currencies value.
ISLAMIC LAW in FOREX TRANSACTION
1. There Ijab-Qobul: ---> There was an agreement to give and receive
• Seller deliver the goods and the buyer pays in cash.
• Ijab-Qobulnya done orally, in writing and messenger.
• Buyers and sellers have full authority to implement and carry out legal acts (adult and sensible)
2. Qualify the object of transactions, namely:
• Holy goods (not unclean)
• Can be used
• Can be handed
• Clearly goods and prices
• Sale (purchased) by the owner himself or his owners permission
• Goods already was in his hand when the goods obtained in exchange.
Comparison between countries of the currency collected in a MARKET EXCHANGE or an international and bound in a mutually beneficial agreement. The value of the currency of a country with other countries is changing (fluctuating) at any time according the volume of demand and supply. The demand and supply are what caused the transaction currency. That actually was the exchange of different currencies value.
ISLAMIC LAW in FOREX TRANSACTION
1. There Ijab-Qobul: ---> There was an agreement to give and receive
• Seller deliver the goods and the buyer pays in cash.
• Ijab-Qobulnya done orally, in writing and messenger.
• Buyers and sellers have full authority to implement and carry out legal acts (adult and sensible)
2. Qualify the object of transactions, namely:
• Holy goods (not unclean)
• Can be used
• Can be handed
• Clearly goods and prices
• Sale (purchased) by the owner himself or his owners permission
• Goods already was in his hand when the goods obtained in exchange.
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