hither mann the only way is forex haram
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The following decisions were made:. Based on the in-depth research conducted, the Discourse has found that individual spot forex electronic transactions contain elements of usury riba in the imposition of rollover interest, resemble a sale contract with credit term by way of leverage, is ambiguous forex online analytics terms of the transfer of the possession of items exchanged between the parties, include the sale of currency that is not in possession as well as speculation that involves gambling. Furthermore, it is also illegal under the laws of Malaysia. In relation to the above, the Discourse has agreed to decide that the hukum islam main forex individual spot forex electronic transactions are prohibited as they are contrary to the precepts of the Shariah and are illegal under Malaysian law. Therefore, the Muslim community is prohibited from engaging in forex transactions such as these. The Discourse also stressed that the decision made is not applicable to foreign currency exchange operations carried out at licensed money changer counters and those handled by financial institutions that are licensed to do so under Malaysian law. Click here to view.

Hither mann the only way is forex haram how to attract investors in forex

Hither mann the only way is forex haram

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The smoking gun came to light on 29th of December Hither has been listed as a director of lots of different companies over the years. All are micro-accounts. No sign of those gigantic numbers she claims to have earned, not even remotely close. And then one of those companies went into liquidation with the evidence for all to see.

The company was called Vinco Investments Limited company number When a company director does this sort of act, the liquidator has to recover the cash and will then decide how assets within the company are distributed.

Why was the company liquidated in the first place? In there you will find all the companies historical accounts and the full process of the liquidation. Hither was previously a director of the company but on 23rd of October Companies House received notice she was no longer a director. Instead someone going by the name of Mr Ranjit Mann was the director.

Hither is still very much the face of the business though. Here is the full list. However, curiously, she resigned as a director from all of them except Kastrum Limited. She resigned as a director of the all the other companies on the same day, 23rd of October Not even remotely close.

As was said at the top of this page, you are going to have to make your mind up about this woman. They are such a professional company that even in their Privacy Policy they spell their own name wrong. She has photos of her with a fast car on Twitter! That must be proof right.

She covers up her number plate in all the photos. Which is complete jibberish. Why does she do it? All of the companies above which she has been listed as a director all use small residential properties in the Coventry area. She has a YouTube channel that you could be forgiven for thinking is a spoof. Here is a screenshot of one of her videos. Any professional trader looking at this will be crying with laughter right now.

As you can see from the video she has conveniently not allowed the world to see how many likes and dislikes the video has. Hmmm wonder why. Further up this page a Quora page was mentioned, on that page a guy who went to one of the Fortune Academy events gave some information. Here is the link. Eventually it also received a reply from Hither Mann herself, which was pure gold! Much like a politician would do, she did exactly as you would expect and went on the attack. When the Real Business article came out and tweeters were ridiculing her was her response to give the world proof, no she blocked them, when someone on Quora shares their experience does she give proof of her success no a photo of a car is not proof?

What she did was dig deeper. It was added a lot later, conveniently after the Quora question had arisen. Should the Wayback Machine page ever disappear because domain owners can request pages be deleted by Archive. In her fourth paragraph she then talks about the FCA.

Say: that which is more than your need, and so Allah shows you wisdom so that maybe you will think. For more on Maisir and to understand what Maisir is, refer to my article two questions to identify Maisir. Example, I have U. Consequently, I need to exchange some of the U. The prophet peace be upon him said that if the currencies are different trade as you wish so long as the transaction happens hand-to-hand [the change of possession must happen at the same time in order to avoid loans disguised as trades].

Example, I operate a multinational corporation based in the United States. A Turkish customer is scheduled to pay me 1 million Turkish Liras 3 months from now. Dollars than they are today. Without going into the specifics of these products and how they work, the need to hedge against currency risk is a totally legitimate need which I find no objections to in either the Quran or Sunnah.

If you buy an asset because you think it is underpriced no one is going to object to this or argue that it is impermissible. If you think dates are underpriced and you decide to buy dates in hopes their prices eventually correct, this is an entirely legitimate trade.

Similarly, if you buy the Japanese Yen in hopes of making a profit because you think it is underpriced against the U. In the aforementioned examples of trade, the seller transferred their risk of ownership to the buyer. So from an overall market perspective, risk was neither created nor reduced it was transferred from one party to another. This is trade. And for what? What value creating prospects result from my bet which can justify my creation of risk?

The creation of risk with no justifiable prospects for creating any value is rather dangerous and can potentially lead to the exacerbation of economic crises. Now, what happens with Forex trading? You are like the people on the Island that were betting on the price of the Islander without taking possession of it.

You are creating risk in the market with no prospects of creating any value which can justify your risk creation. This is gambling and is absolutely Haram prohibited in Islam. Gambling has to do with the creation of risk with no prospects of creating value that can justify the risk creation. Aside from gambling, the other matter that arises when analyzing Forex trading is the issue of Riba. Any loan which involves a contractual requirement for the lender to benefit from the loan involves riba.

However, it is haram to borrow money with the condition that the money is used to purchase something from the lender. This is because the loan in this case will be bringing about a contractually guaranteed benefit to the lender. I see no material differences between Forex trading for the purposes of speculating on price and gambling.

However, I would argue that although painful at first, transitioning to a career with a more worthwhile pursuit will be much more fulfilling and likely more profitable as well. View all posts. I have a leveraged account i. When I open a trade I can close at any time and If i choose to do so I can choose to swap my base currency to the other currency I am trading or withdraw in a different currency. And it is not exactly paying him for the money he lend.

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Is Forex Trading Haram or Halal? - An Insider View

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