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Document Type |
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Article In Journal |
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Document Title |
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Trade in Currencies through the Internet (Forex) تجارة العملات عبر الإنترنت (فوريكس) |
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Subject |
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Trade in Currencies |
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Document Language |
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Arabic |
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Abstract |
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Abstract. Forex carved a couple of words in English, Foreign Exchange, and meaning of foreign currency or foreign exchange. This transaction is a new and addressed to the Gulf countries in particular, and for those who want to have surplus cash invested.
This transaction is a speculative (gambling) process on prices, such as those occurring in the stock exchanges, have nothing to do with trade in currencies, there is no real trade in currencies, but there is fictitious operations; that is neither the hold nor the payment takes place, it is just differences in exchange rates and entering into speculative factious financial economy, which triggered the global financial crisis in 2008. The deal came at the wrong time for resolving the crisis, as it is suitable for fueling the crisis. And, the use of the phrase "trade in currencies" is just to suggest that the transaction is legitimate from Islamic view point. Under Islamic rules trade, in currencies, is permitted as long as the transaction is on spot and deferred for future settlement. As a result, this process is Riba, gambling, deception, looting and extortion. |
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ISSN |
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1018-7383 |
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Journal Name |
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Islamic Economics Journal |
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Volume |
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23 |
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Issue Number |
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1 |
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Publishing Year |
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1431 AH
2010 AD |
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Article Type |
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Discussion Forum |
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Added Date |
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Monday, February 28, 2011 |
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Researchers
| رفيق يونس المصري | Al-Masri, Rafic Yonus | Researcher | Doctorate | rmasri_sa@yahoo.com |
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Files
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29182.pdf
| pdf | تجارة العملات عبر الإنترنت (فوريكس) |
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