Shariya Compliant Trading
Hi,
Since short selling is allowed in Krachi Stock Exchange, I want to know what is prespective of islam about short selling in Future market.
I heard that it is allowed, but it would be good if someone clarify this issue.
Regards.
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4
2 votes
Shariya Compliant Trading
Started by Nomi929, Feb 28 2007 07:04 PM
Shariya Compliant Trading Shariya Trading Shariya Compliant
456 replies to this topic
#2
Posted 28 February 2007 - 07:13 PM
Nomi929, on Feb 28 2007, 07:04 PM, said:
Hi,
Since short selling is allowed in Krachi Stock Exchange, I want to know what is prespective of islam about short selling in Future market.
I heard that it is allowed, but it would be good if someone clarify this issue.
Regards.
Since short selling is allowed in Krachi Stock Exchange, I want to know what is prespective of islam about short selling in Future market.
I heard that it is allowed, but it would be good if someone clarify this issue.
Regards.
bhai maa naa tuu quran sharif yeah hadis maa kahyiean nahi dekha kaa short selling kaa baree maaa han shares ka business haram nahi halala haa agar apnee zahin saa money kama saktaaa hoo too good other wise not good
#3
Posted 28 February 2007 - 08:54 PM
I know that shares trading is legal in islam.
But don"t know about short selling. Bcoz u r selling something which u don"t have.
But don"t know about short selling. Bcoz u r selling something which u don"t have.
majid008, on Feb 28 2007, 07:13 PM, said:
bhai maa naa tuu quran sharif yeah hadis maa kahyiean nahi dekha kaa short selling kaa baree maaa han shares ka business haram nahi halala haa agar apnee zahin saa money kama saktaaa hoo too good other wise not good
Best Regards,
Nouman Tariq.
#4
Posted 28 February 2007 - 09:09 PM
refer to the book 'fiqhi maqalat' written by moulana tariq jameel sahib...... it has a section on share trading which has some details of trading in Islam...........
you can also refer to the book 'meezan bank's guide to Islamic banking' written by dr.muhammad imran ashraf usmani................
according to what i can understand from these books, buying in futures is prohibited in Islam (that is as short as it can get).....
if any of you wants more details i have an e-copy of a book written by some professors in saudi arabia which has complete details on all sorts of islamic financing but this file is about 4 mb in size and i don't think i can upload that big a file...... so if someone could tell me how to upload a 4 mb file or i can mail to someone....
you can also refer to the book 'meezan bank's guide to Islamic banking' written by dr.muhammad imran ashraf usmani................
according to what i can understand from these books, buying in futures is prohibited in Islam (that is as short as it can get).....
if any of you wants more details i have an e-copy of a book written by some professors in saudi arabia which has complete details on all sorts of islamic financing but this file is about 4 mb in size and i don't think i can upload that big a file...... so if someone could tell me how to upload a 4 mb file or i can mail to someone....
#5
Posted 28 February 2007 - 09:29 PM
http://www.milligazette.com/Archives/2005/...1507200530b.htm
[indent]iv. Short Selling:
Short selling is borrowing a stock from the brokerage firm and selling it in anticipation that the stock price will further go down. Once the prices are a bit stabilised the stock is purchased back to square up the sale transaction. Thus, the investor as a “shorter” keeps the difference. This transaction involves huge risk that almost has no upper limits. Moreover, from shariah point of view you cannot sell what you do not posses.[/indent]
[indent]iv. Short Selling:
Short selling is borrowing a stock from the brokerage firm and selling it in anticipation that the stock price will further go down. Once the prices are a bit stabilised the stock is purchased back to square up the sale transaction. Thus, the investor as a “shorter” keeps the difference. This transaction involves huge risk that almost has no upper limits. Moreover, from shariah point of view you cannot sell what you do not posses.[/indent]
#6
Posted 28 February 2007 - 11:20 PM
ovais, on Feb 28 2007, 09:09 PM, said:
if any of you wants more details i have an e-copy of a book written by some professors in saudi arabia which has complete details on all sorts of islamic financing but this file is about 4 mb in size and i don't think i can upload that big a file...... so if someone could tell me how to upload a 4 mb file or i can mail to someone....
Ovais Bhai, it would be good if u send dat e-book to me. I will upload dat.
My email is nouman929@gmail.com
Quote
http://www.milligaze...1507200530b.htm
Moreover, from shariah point of view you cannot sell what you do not posses
Moreover, from shariah point of view you cannot sell what you do not posses
Sid bhai, the above link states that Future Trading,Day trading and Leverage trading is also not allowed.
But I think Day trading might be OK if u trade based on your proper Fundamental or Technical research.
And for Future trading some scholar says its Ok and some says Not. In Sort of Future trading that is provided by KASB Direct, Client don"t have to pay any intrest on Leverage.
Regards.
Best Regards,
Nouman Tariq.
