I know this is a little belated but I don't think you guys would mind heheh
To the Newlyweds Rahmah and Fadle semoga bahagia bersama selamanya sehingga ke anak cucu cicit and yg selepasnya. Amin~
Of course to all ITB graduates and especially our own BFB group on the recent convo. We Made It!!! All the hardwork's been paid off and a special congratulations to Nas on being top student for Banking group: you really deserve it and thank you (million thanks) for helping us out throughout the 2.5 years and specifically with our revisions during the exam (kedapatan last minit study lol). I hope everyone will keep in touch (we have this blog after all) and good luck to everyone whatever it is you guys are pursuing.
Best Regards,
Ammar
Saturday, May 24, 2008
RE: Pipsology's Forex Leverage
Now I have too admit that we're not really expert in Forex whatmore Forex in Islam. Don't remember if we ever discussed it in class (unless of course I wasn't paying much attention lol). Anyways I looked it up online and did a brief research and here's some source that might help in answering your questions.
http://www.youtube.com/watch?v=Z9ngYs1J5zw
http://www.zaharuddin.net
http://www.islamonline.net/livefatwa/english/Browse.asp?hGuestID=Ta4O7M
Remember that there are specific conditions imposed in order to ascertain that a financial product is halal (no riba). Two primary conditions are 1)transactions needs to be on the spot 2)the value needs to be equivalent. As for forex leverage some argued that because the amount "controlled" does not really exists (since it can only be realized when profit is made) it might be constituted as gharar (uncertainty) and is thus not permissible (haram). Some form of forex leverage also uses derivatives (forwards, options, futures, etc.) and is thus is not permissible. Again I am not by any means an expert (or even remotely knowledgeable) therefore it is better to refer to professionals in this matter.
For Nas: If you're reading this, your comments (and thoughts) would be greatly appreciated.
For Max: Try asking Tasadaq when you get the opportunity okay?
http://www.youtube.com/watch?v=Z9ngYs1J5zw
http://www.zaharuddin.net
http://www.islamonline.net/livefatwa/english/Browse.asp?hGuestID=Ta4O7M
Remember that there are specific conditions imposed in order to ascertain that a financial product is halal (no riba). Two primary conditions are 1)transactions needs to be on the spot 2)the value needs to be equivalent. As for forex leverage some argued that because the amount "controlled" does not really exists (since it can only be realized when profit is made) it might be constituted as gharar (uncertainty) and is thus not permissible (haram). Some form of forex leverage also uses derivatives (forwards, options, futures, etc.) and is thus is not permissible. Again I am not by any means an expert (or even remotely knowledgeable) therefore it is better to refer to professionals in this matter.
For Nas: If you're reading this, your comments (and thoughts) would be greatly appreciated.
For Max: Try asking Tasadaq when you get the opportunity okay?
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