Stock trading is currently popular among millennials because it provides an alibi that makes people want to be involved in the capital market industry. At the same time, the risks associated with trading are also quite high. According to Islamic law, carrying out transactions or trading legally or illegally is always against khilafiyah.
Comparing these reviews alone can confuse groups of people looking to enter the world of trading. In the following article, we provide an overview of Muslim business law.
Interpretation of trade and its laws
Trading comes from the English word trade which means trading. However, shares or stocks are traded here. As technology develops, online shopping services are available to more and more people, and buying and selling functions can be experienced anywhere.
Islamic trading is allowed if certain conditions are met. Shares may not be used for illegal trading. The trading system must also be free from usury, manipulation and tyranny.
Currency or Forex is foreign currency. Most researchers allow trading of these currencies under certain conditions. As explained in Fatma or MUI n. 28 DSN MUI 3 of 2002 concerning the Sale and Purchase of Coins for the Indonesian Ulema Council, various parts of which include.
1. Do not render (randomly)
2. Events required or just in case (save)
3. If transactions are made in the same currency, the value must be the same as cash (at-taubah).
4. If the type is different, the converter's valid value in the cash transaction must be proven.
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