Imarketlive and Jafx
Question
There is a company called imarketlive and a broker called jafx with an islamic option for forex. Please can you let me know if it is halal.
Also before you mentioned there are different intances where forex is decared halal, please can you mention some.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
May Allah Ta’ala reward you for your resilience and your steadfastness in searching for halal business avenues.
Rasulullah (صلي الله عليه وسلم) said,
“The truthful, trustworthy merchant will be with the Prophets, the Siddiqeen (truthful), and the martyrs.”[i]
“Searching for halal sustenance is an obligatory act after other obligatory acts.”[ii]
We are unable to comment on their Shariah compatibility unless the company provides us with the details of their procedures.
We advise you to refrain from investing with them until we can ascertain whether they are actually Shariah compliant or not.
And Allah Ta’āla Knows Best
Saad Haque
Student Darul Iftaa
New Jersey, USA
Checked and Approved by,
Mufti Ebrahim Desai
References (Arabic / Urdu sources)
«التَّاجِرُ الصَّدُوقُ الأَمِينُ مَعَ النَّبِيِّينَ، وَالصِّدِّيقِينَ، وَالشُّهَدَاءِ»
«طَلَبُ كَسْبِ الْحَلَالِ فَرِيضَةٌ بَعْدَ الْفَرِيضَةِ»
[i] سنن الترمذي ١٢٠٩
[ii] السنن الكبرى للبيهقي ١١٦٩٥
تَفَرَّدَ بِهِ عَبَّادُ بْنُ كَثِيرٍ الرَّمْلِيُّ، وَهُوَ ضَعِيفٌ
- Answered by
- Saad Haque
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.