ISLAM or FOREX

I want to discuss is how about the Islamic view of the forex business based on Islam, based on the sources that I read as follows:

There are two hadiths that explain this which narrated by Imam Bukhari, said Abu Said about swapping
money, I heard the Messenger of Allah saying, Gold with gold must be the same, silver with silver must be the same
(size & weight). And other words, you should not sell (exchange) gold for
gold, except the same as the same. And do not also exaggerate one with another. And not anyway
sell (exchange) silver for silver, except the same as the same. And do not also exaggerate some of the above
some others. And do not also sell (swap) that are not in place (supernatural) with the concrete located
in place.
Second, exchange money of different types, such as rupiah with dollars or vice versa, rupiah with riyals or
vice versa and other foreign currencies, then based on Ijma Ulama may be done with several conditions:
first, there is mutual acceptance of the currency at the place of the sale and purchase agreement, so as not to fall on usury
nasi & rsquo; ah (due to suspension of delivery or exchange of ribawi items with other ribawi types)
if not done at that time.
In addition, frequent price fluctuations occur from time to time, from day to day and from hour to hour. Therefore
must be cash. Imam Bukhari stated that Umar bin Khattab heard someone exchanging gold while
said when he accepted his trade: Wait for my guard to return from the forest
Umar said,
; By God, do not be separated from him so that the exchange process occurs. & Rdquo; & rdquo; me
heard the Prophet said, Exchanging gold for gold is usury, unless done in cash with
cash. Wheat with wheat is also usury, unless done in cash. Dates with dates too are
usury, except cash in cash.

Second, it is carried out with the same exchange rate between one currency and another, based on historical hadiths
Imam Bukhari of Aba Bakrah, Rasulullah said, => Do not sell (trade) gold for gold
except the same as the same. Do not also silver with silver unless the same as the same. And sell (exchange)
gold with silver or vice versa, as you please.

Thus fragments of the concept of exchange based on the hadith if it is not in accordance with the concept would be said to be usury. Therefore I hope your participation in discussing this matter,

thank you


Linkback: https://www.forex.zone/general-forex-discussion/1/islam-or-forex/2401/

Forex is permitted in Islam only in a good and correct way.

Forex is very good and Islam also responds well.

in Islam it is very dilemmatic about forex law, but it is more inclined to the lawful law and indeed forex is allowed because it meets legal trading requirements.

as long as there is no swap value and commission, in forex trading Islam may be done as a business of course

for me this debate will go on forever, the important thing is what we believe to do and don't have to worry about other people, it's quite simple in my opinion

in Indonesia there is an Islamic institution called MUI and this institution allows forex, so I think forex is a lawful thing and can be done.