Principles of Fiqh » Jurisprudence and Islamic Rulings » Transactions » Business and Financial Transactions » Investment. Like now a days, its very common that people invest in Euro to earn profits. One broker keeps on calling me to invest USD dr mohammed obaidullah forex cargo Euro.
Dealing in currencies is permissible so long as the exchange takes place in the same sitting as the contract is made. It is permissible to sell euros for dollars so long as the exchange takes place in the same sitting as the contract is made. But when the deal is concerning the same type of currency, such as selling one dollar for two dollars, that is not permissible because it is a type of riba. Dealing in currency, buying and selling, is permissible, but that is subject to the condition that the exchange be hand-to-hand if the currencies are different. If they are of the same kind, such as dollars for dollars, or dinars for dinars, then the exchange must take place in the same sitting and they should be of the same amount. And Allaah is the source of strength. Dear reader, online ads enable us to deliver the journalism you value.
Please support us by taking a moment to turn off Adblock on Dawn. KARACHI: Acting on an apex court order, the Sindh government on Friday notified termination of services of 86 officers who were re-appointed on a contract basis after their retirement by the previous government. The Supreme Court had on March 8 given a direction while hearing the Karachi violence suo motu proceedings about the fate of those officers reappointed on a contract basis following their retirement. A notification in compliance with the SC directives was issued with the approval of the caretaker chief minister. The officers whose services were terminated had been reemployed against posts of grade 21, 20, 19, 18, 17 and grade 16.