Q: I am visiting Argentina for a month. I have come across that the Peso Dollar official rate and black market rate to be very different. The official rate is around 8 pesos while the black market rate is around 15 pesos. Is it permissible for me to change my dollars in the black market? Someone told me that it is not permissible because its a type of riba and cheating and going against the law of the country. Please advise.
Q: I have one question regarding earnings. Is it halaal or haram. There is one company doing gold trading. If I open an account I will pay them some amount and they will open a gold account for me. Gold rates are linked with the real gold rates which are current internationally. When I buy gold from my money, I buy a lot of gold and then this gold is not physical in real. The gold purchased is from the money and if I want to sell that gold, I can get my money back (not the gold) to my account. It could be profit or loss.
Q: I have a R2 union buildings coin. They say that it was minted to celebrate the 100th anniversary of the union buildings. After much research to verify this, I came to the conclusion that it is worth R2000. Can I sell it for R2000?
Q: I have old 50 cent and R1 coins which I collected over the years. Is it permissible to sell these coins for a price more than the face value? It has become a collector’s item and has more value in the collectors’ market.
Q: Is it permissible to trade currencies online. Funds are deposited into an account and the funds are then used to buy or sell currencies. Once the
currency fluctuates, you do the same.
Q: Is online forex trading permissible? Many brokers offer Islamic non-interest accounts. I intend only trading in gold. Is this fine?
Q: Is fxcm.com halal or haram. It is forex.
This is what you do in forex, buy 1 usd dollar when it is equal 2 euro dollar and sell it when it is more than 2 or equal to 3 usd dollars.
For example: I bought when it was like this, 1 USD = 2 EURO. I will sell when it becomes 1 USD = 3 EURO or more than 2 EURO.
So is it halaal or haram? Can you tell me why is it halaal or haram, and also say at the end of your answer, this "It is halaal" or "it is haram" so I can understand clearly.
Q: I am interested in online forex trading of currencies. Is it permissible to trade in forex or not?
Q: Is online forex trading permissable? Few companies offer interest free islaamic accounts.