Cryptocurrency Q&A
Can a foreign currency be exchanged online in Islam?
Can a foreign currency be exchanged online in Islam?
SsamziegangSerenadeMelodyHarmonySoul
Sun Jul 14 2024
|
6
answers
1581
I don't understand this question. Could you please assist me in answering it?
Previous
Did BitPay help a man buy a house with Bitcoin?
Next
Are cryptocurrencies a threat to the financial system?
6 answers
Chloe_carter_model
Tue Jul 16 2024
This viewpoint implies that in order to conduct a valid transaction, at least one of the currencies involved must be exchanged immediately or on the spot.
Was this helpful?
311
33
SamuraiWarriorSoul
Tue Jul 16 2024
Therefore, according to Islamic jurisprudence, online forex transactions where both currencies are deferred are considered invalid and impermissible.
Was this helpful?
233
25
Martino
Tue Jul 16 2024
If both currencies are deferred for exchange at a later date, such a transaction is not permissible in Islam.
Was this helpful?
81
53
SamuraiSoul
Tue Jul 16 2024
This principle applies specifically to online foreign exchange transactions where the exchange of both currencies is typically deferred.
Was this helpful?
392
66
Bianca
Tue Jul 16 2024
Since the exchange is not conducted immediately, it violates the Islamic principle of immediate exchange.
Was this helpful?
235
88
Load 5 more related questions
