Sheikhs in Somalia declare Forex haram!

[TekNiKo]

Be careful folks, many people like on this site who brag about trading should watch this

 

[Inquisitive_]

Forex is just currency trading and for me there is no doubt that it falls under gambling, you make money through speculation, and the big players make money through insider information.

Speculation especially of the type of shorting a stock, where you have to borrow money and bet on the price of a stock going down, is nothing more then cancer.

When banks and large hedgefunds do this, they can literally destroy companies/countries, it's nothing less then economic warfare.

 

[haramcadd]

nigga who cares

 

[Saredo]

Be careful folks, many people like on this site who brag about trading should watch this

@Samaalic Era i wanted to warn you last time. But I was too lazy to type.

 

[TekNiKo]

Forex is just currency trading and for me there is no doubt that it falls under gambling, you make money through speculation, and the big players make money through insider information.

Speculation especially of the type of shorting a stock, where you have to borrow money and bet on the price of a stock going down, is nothing more then cancer.

When banks and large hedgefunds do this, they can literally destroy companies/countries, it's nothing less then economic warfare.

Dahabshiil has introduced this too Somalia and acts as a broker to enter into the international market. She charges a fee for every investment and will not refund you in the event of loss. This is relatively new in out country and many ignorant people are falling for it as a get rich quick scheme.

 

[Brooks]

Am I suppose to give a shit?

 

[Samaalic Era]

@Samaalic Era i wanted to warn you last time. But I was too lazy to type.

I was about to get into it aswell, thanks Walal

 

[ThreeTwentyOne]

I couldn't help but notice...

Mashallah all of their foreheads are the same. Not one is different than the other.

 

[Calaf]

Halal according to other Shiekhs in Singapore, since it falls under investment I use Wahed Invest most of the times, so in the rare case I use other ones, I beg Allah for Forgiveness

 

[WADA La Aan]

They did not declare it haram. It was always haram from the start.....

 

[Misil]

Am I suppose to give a shit?

If you don't give a shit then don't comment and f*ck off.

 

[Tukraq]

There just low iq “shiekhs”, nothing haram in owning currency wtf

 

[Apollo]

Trading is not gambling and the global economic system wouldn't function without it.

Without traders → no liquidity → more disruptive price spikes and drops and instability.

 

[Tukraq]

Forex is just currency trading and for me there is no doubt that it falls under gambling, you make money through speculation, and the big players make money through insider information.

Speculation especially of the type of shorting a stock, where you have to borrow money and bet on the price of a stock going down, is nothing more then cancer.

When banks and large hedgefunds do this, they can literally destroy companies/countries, it's nothing less then economic warfare.

Then buying and selling anything would be a “gamble” because prices change, me buying a foreign coin at lower value and selling it when it’s more valuable is 100 percent halal

 

[Automaton]

Then opening a business is also haram since 8 out of 10 eventually fail, and that is gambling. These people wants us to live in the dark ages.

 

[Brooks]

If you don't give a shit then don't comment and f*ck off.

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[Tukraq]

What’s next? Owning gold/house is haram to because mareket volatility is supposedly “gambling”

 

[dr.leorio]

Forex and mutual funds are haram but then again the entire financial fiat system that's riddled with riba that crony captalists take advantage of needs to be upheaved.

The entire system is a scam.

 

[Tukraq]

Forex and mutual funds are haram but then again the entire financial fiat system that's riddled with riba that crony captalists take advantage of needs to be upheaved.

The entire system is a scam.

How is owning a foreign currency haram?

 

[bluebird]

To be fair a sheikh has to be completely educated on how something works before declaring it haram. Not saying it is or isn’t because I don’t know, but what I do know is a lot of Somali sheikhs have lost my trust because of their heavy reliance on Somali culture or their perception of life to dictate halal and haram. This is one of those things I would ask a trusted American Muslim scholar because they would have more input in this arena