Friday, May 28, 2010

FOREX TRADING (who conducted his own) The Islamic Perspective


To discuss this question, it is subject to: -

-Reliability of a platform in terms of its license and identification. It is necessary for you to avoid being conned by the platform company that is not true. Details of the platform must be reviewed and may be obtained. If not, your transaction is doubtful from the outset there are elements gharar tap.

b-If the platform had the authority and license as well as the info is sufficient, the second rate acts in connection with these activities from the statutory bodies in Malaysia. This is necessary to ensure that you are not involved in illegal activities country.

If the latter is passed, I think the sale of foreign currency transactions, store and then re-sell when prices rise tukarannya as it is to be automatically executed according to the method of 'spot'. But let us together try to understand and review how this process is done in the short and the Islamic view about it.

To the extent that is explained by the individuals involved and know about the way forex trading via the Internet is. It is as follows: -

1) It has a minimum capital. For example USD 1, USD 100 and others, it varies from company policy for their forex trading.

2) In the capital, the company forex trading platform will open a special account for the participants.

Afterwards, the participants will decide whether to open a sales counter currency in the accounts or to open the counter purchase.

Easily picture are: -

Suppose capital USD 100 purchased by the exchange during the day is USD 1 = RM 3.6, and open counters 'selling' the platform of the company.

For example, the next day when the analysis is done on the movements of currencies, found the USD strengthened against the Rand USD 1 = RM 4 .
As such, it will press the button to sell USD 100 and earn RM 400. This means that it was good compared to a profit of RM 40 above the original purchase price.

The company is FOREX MUST include the RM 400 as soon as the transaction was a sale and purchase is made, NOT ALLOWED OR INCLUDE SOME ONLY delayed, if in the example above, only RM 40 included, while the remaining capital of RM 360 will be added shortly participants close the account at day.

Shariah Issues: If this does not happen, then it is passed from the Shariah point, but if the delay occurs, the Shariah issue here is there a delay in the delivery of the ringgit. This makes it contrary to the instructions Prophet Muhammad: -

In exchange for money, he has said that the guidelines must be followed, namely:

فإن رَسُولَ اللَّهِ قال الْوَرِقُ بِالذَّهَبِ رِبًا إلا هَاءَ وَهَاءَ
Which means: Allah's Messenger said: Swap between silver and gold is usury except if it is done simultaneously (delivery receipt at a time) "(Narrated by Muslim, no 1586, 3 / 1209)

While the purchase of debt from one of the two parties is forbidden by hadith: -

نهى رسول اللَّهِ عن بَيْعِ الذَّهَبِ بِالْوَرِقِ دَيْنًا

Which means: "Allah's Messenger forbade the sale of gold and silver in debt" (Narrated by Al-Bukhari, no 2070, 2 / 762)

Imam An-Nawawi has said openly that the scholars have agreed terms must accept delivery at a time or Taqabud 'either intrinsic (physical) or hukmi (through the medium of the Internet, but have evidence such as receipts or electronic record showing transaski valid) ( Syarah Sohih Muslim)

Recommendation: Must ensure that the current trading transkasi done, plus all the capital gains are included in our accounts without any grace, and automatically, we can withdraw money without any restrictions.

3) There are companies that require a high minimum capital of USD 1000 and the other number.For that they offer what is called 'leverage' capital which participants will be doubled.

For example, say your actual capital is USD 100. So you have to choose or select multiple options are required. As a: 10 Wilkins capital will be doubled to 10 times the USD in 1000 or if the select 1:100, means that your capital to USD 10 000. With this amount of new currency will be in the market at the market.

Leverage:

Definition of Leverage:
The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment.

Leverage can be created through options, futures, margin and other financial instruments. For example, say you have $ 1,000 to invest. This amount could be invested in 10 shares of Microsoft stock, but to increase leverage, you could invest the $ 1000 in five options contracts.You would then control 500 shares instead of just 10. (Reference)

If truth is what I imagine, using the leverage of forex trading is illegal because it is not considered selling the currency in your possession. Your actual possession only USD 100 but the sale is 10,000. It is what is referred to by the Prophet s.a.w:

لَا تَبِعْ ما ليس عِنْدَكَ
Meaning: Do not sell something that is not in yours "(Narrated by Abu Dawood, no 3504, 3 / 283)

In fact I would almost certainly, the money raised by the company accounted for as loans and they would take some profits, whether known or unknown to the participants. If this happens, the laptop has happened again.

In order to prevent prohibited by Islam from happening here, use 1:1 leverage is allowed.Wallahu'alam.

4) has been told the company also advised the participants to use the capital less than 30% to reduce the risk of trading conducted.

And if there are problems or potential loss of what is called 'margin call', the participants are allowed to open another counter whether the sale or purchase of balancing the possibility of loss.

Views: Wallahu'alam, if all implemented with a clear and proper planning. So far I do not see a problem with Shariah in this action, because such proceedings do is open a new counter, if before it opens the counter sales only, when in a position to take a loss selling is found, it immediately opens the counter purchase, for a profit hand. Everything is permissible if conducted in accordance with the above conditions, there is no leverage, no grace, and money earned can be withdrawn at any time. Wallahu'alam.

Wednesday, May 26, 2010

Invest in companies with FOREX on Islamic law perspective

Forex (Foreign Exchange) or more commonly known as the Foreign Currency Trading: It is a type of commercial / trade transactions of a country's currency against the currencies of other countries involved major currency markets in the world for 24 hours continuously.

True, it is FOREX currencies is required, but subject to the extent to which it is in accordance with guidelines issued from the hadith of the Prophet sohih. Namely: -

a-Changed (delivered and received) in the same time it is mentioned in the hadith as "bi yadan yadin. In the English language is "on the spot basis." It came many hadiths of the most important are: '


الذهب بالذهب , والفضة بالفضة , والبر بالبر , والشعير بالشعير , والتمر بالتمر , والملح بالملح , مثلاً بمثل , سواء بسواء , يداً بيد , فإذا اختلفت هذه الأصناف فبيعوا كيف شئتم


Which means: Gold with Gold (convertible or traded), and silver for silver, wheat with wheat, dates, the dates, salt with salt should be the same weight, dosage, and converted directly (at a time) and if a different type, then sell-buy as you liked "(Narrated by Muslim, Hadith no 4039 no, 11 / 9).


b- The Prophet said: -

فإن رَسُولَ اللَّهِ قال الْوَرِقُ بِالذَّهَبِ رِبًا إلا هَاءَ وَهَاءَ


Which means: Allah's Messenger said: Swap between silver and gold is usury except if it is done simultaneously (delivery receipt at a time) "(Narrated by Muslim, no 1586, 3 / 1209)


c-The purchase of the debt from one of the two parties is forbidden by hadith: -

نهى رسول اللَّهِ عن بَيْعِ الذَّهَبِ بِالْوَرِقِ دَيْنًا


Which means: "Allah's Messenger forbade the sale of gold and silver in debt" (Narrated by Al-Bukhari, no 2070, 2 / 762)


Hadith on Islamic mention of discipline in exchange of gold and silver. For information, scholars agree that the currency (bank note) is the discipline of gold and silver because of the value and functions as the medium of exchange ". Thus each discipline and conditions of transactions involving gold and silver are also applicable to currency transactions. Such decisions the Fiqh Council of an International and the International Islamic Finance Council of the AAOIFI.


FOREX currency managed by conventional companies certainly will not take care of this condition as most FOREX carried out by conventional institutions are "Forward Forex or Forex using 'Value Forward' (the future), which belongs to the Riba nasiah. They also frequently use the SWAP, Options and other derivatives that are forbidden in the Shariah perspective.


Instruments just do not meet the delivery receipt or Islam called "qabadh" in Islam in a true "pure" or "hukmi" at the same time. FOREX is a problem in the implementation of accepted the submission of both parties. When the aqad become void (Radd ala al-Muhtar Google, Durr, 4/531).


I do not deny that there are some Islamic Financial Institutions that do forex after obtaining their approval of the Shariah Advisory Council, but all they are only involved in the FOREX SPOT type instead of 'Forward'; But if it uses the concept of forward Al-wa'd or unilateral Promise and it was agreed should. Indeed the Shariah Council they have put some conditions and not simply free.


Thus INVESTED CAPITAL (meaning you invest and then wait PROFIT ONLY) and in the conventional financial institutions to obtain profit through FOREX is not lawful in Islam.


It is the result of global Shariah Advisory Panel under the auspices of the name Accounting & Auditing Organization for Islamic Institutions (AAOIFI). Among the panel of Shariah adviser is Sheik Mufti Taqi Othmani font, Assoc. Dr. Sheikh Wahbah Zuhayli, Assoc. Dr. Dharir Siddiq Sheikh, Sheikh Abdullah al-Mani ', Dr. Abdul Sattar Abu Ghuddah, Sheikh Dr. Nazih Hammad, Sheikh Dr. Hussain Hamid Hassan, Sheikh Nizam Ya'quby, Dr. Mohd Daud Bakar, Sheikh Al-Sadiq al-Ayashi Faddad, Sheikh Dr. Ajil Nashmi and many others.

Perfect way of Wudhu

1. Intent
Wudhu not be valid unless accompanied by the intent. Intent is aimed at the heart, while saying with the tongue is not a ruler.
VERSE:
"O you who believe, when you want to perform the prayer, then wash your face." (Surah Al-Maidah: 6)

2. Front wash.
Necessary washing the face thoroughly. from the top of the forehead to the lower and upper jaw from the upper part of one ear to the other ear. Water should flow to the face, because the washing means drain here.

3. Wash their hands.
Namely from the fingertips to the elbow completely.
VERSE: "The hand you reach the elbow." (Surah Al-Maidah: 6)

4. Rub the head.
The meaning here is wet shaving heads with water.
Firm VERSE: "And you rub the head." (Surah Al-Maidah: 6)
On the washing head is derived from three ways of the Prophet:
a. Rub the head.
The Prophet said:
"That touched the prophet's head with both hands. He was attractive to the back of his hands and start from the top face of the head to the neck. Then reverse the hands to the place where he start. "(HR Jamaah)

b. Washing the top surban. This is based on the hadith narrated from Amr bin Umayya ra, where he was told:
"I saw him top surban and touched his feet." (HR Imam Bukhari, Ibn Majah and Imam Ahmad).
Based on this hadith, the Muslim women are required to wash his face and touched the top of the lid with water.

c. Touched the front of the head and surban. This is based on the hadith of Mughirah bin Shu'bah, where it tells:
"The Prophet Wudu. Then rub the front of the head and the top surbannya and both feet. "(HR Muslim)
If the hair tied in a state of Muslim women, but it is only just touched her hair ties, it is not enough, because of the trees in this case the head is touched. On the other side is allowed to wash the front of the head, according to the hadith of Anas bin Malik ra, where it tells: "I saw him Wudu, but he was wearing surban from Qatar, then he insert his hand from under surban, to sweep the front of heads , without dropping it surban. "(HR Abud Dawud).

5. Washed the feet.
Ie wash the feet to reach the ankle. This is based on the word of God:
"Wash you feet to the ankle." (Surah Al-Maidah: 6)

6. Order
That is, not too long time terselang one obligatory obligatory Wudu Wudu to another (eg, between washing your face with your hands can not be washed in time away). In addition, the affected limb water Wudu must be dried in a while. However, given the light intervals are not too old, if exhausted or cut off the flow of water and difficult to get water back.

Tuesday, May 25, 2010

Related Matters Solat Qasar and Solat Jama


When a person is Musafir more than two marhalah, then it should be solat Qasar and the solat Jama at all. Which means it can be Solat Jama in the two prayers and Solat Qasar once. However, it can do one of the following:

Solat Jama two obligatory prayers without shortened.
Solat Jama two obligatory prayers and shortened.
Solat Qasar without Solat jama. the Zohor prayers, Asar, Isya performed by separate observed.

Solat Qasar and Jama is a concession given by Allah to His servants in all the time for Musafir, easy or difficult as long as more than two marhalah.
Beginning this Musafir is calculated after we leave the area, either through rivers, ditches, borders of the city or area is no longer building.

The end of the Musafir is when we enter the beginning of a journey or just reach the destination more than four days to live.

Solat Qasar and Solat jama can be done when the course of a Musafir, not less than 56 miles or 89 km even though errors in the determination of the distance between the clergy away. So, to be careful, is best measured from 56 miles.

Solat for those who travel have three ways:

Solat Qasar with Jama once.
Jama without Qasar.
Qasar without the Jama.

Between the two Solat Jama can not be separated by a very long distance. Thus, after only a greeting ( Salam), just keep the prayers. Solat Jama with one Adhan and two Iqamat.

People Solat Qasar should not be in the perfect priest prayers (tamam). When a person has reached the beginning of it off earlier, then finished Solat Qasar and Jamal. It can no longer perform the prayers in the plural and shortened.


When a person is musafir and stop at one place for four days or longer, then it is not counted as a Musafir. But, if they want to stop there for three days, there may be Solat Jama and Solat Qasar. Three days does not include the days and days to come out.

When a person is stopped at a place with the intention to be there for three days, but because business is not done from day to day, it required the Solat jama and Solat Qasar to 18 days.

When a person is traveling as a vice as to the purpose of committing adultery, stealing, or other, it is not required to pray the Jama and Qasar. The journey of a traveler, it should be clear and know where the destination. If he does not know where to direct the way, do not have to perform Solat Qasar / Jama.

Solat Jama (Jama only) can also be karyah members who intend to perform prayers when heavy rain and the village is a common area is muddy and rainy conditions at the beginning of both prayer and Salam between them and the first prayer. If it does not matter if the rain stops in the middle of prayer in the middle of the first or second prayer.