Is Online Trading Halal or Haram? Can Muslims Do It? 2024

Explore the ethical considerations of online trading in Islam: Is it permissible (Halal) or prohibited (Haram)? Discover whether Muslims can engage in online trading.
Online Trading Halal or Haram
Photo by Austin Distel/Unsplash

In the 21st century, a new way of trading has been introduced, and that is online trading.

In previous centuries, especially during the time of our Holy Prophet (peace be upon him), trading was done on the basis of hand-to-hand or personal trading. However, when the world moved online, this new feature of trading raised the question of whether it was permissible in Islam.

Islamic law partly agrees that currency exchange can be halal under certain circumstances. However, scholars are still debating which factors are involved and what the precise statements are.

Is Online Trading Permissible In Islam?

Evidence

  • According to the Hadith of the Holy Prophet (PBUH), (Sunan an-Nasa’I 4560), exchanging products like barley for barley, gold for gold, dates for dates, and so on is forbidden. However, it is permissible to trade goods like silver for gold or barley for wheat in Islam. However, if someone requests or donates more, they may have engaged in riba (interest).

Taking or giving interest, known as usury or riba, is considered haram in Islam.

Difference of Opinion

It is a challenging task to determine whether Forex trading is permitted or prohibited in Islam. However, some argue that Islamic Forex accounts that do not charge any interest are permissible, but it is still debatable whether online trading is acceptable for a Muslim.

Bottom Line

In summary, it is recommended that you show respect to Allah, may He be exalted, and refrain from using this prohibited method of earning a living. May Allah have the best knowledge.

Got a question? Feel free to ask mufti and get quick answers.

MORE:

Subscribe to our channels on WhatsApp, Google News, Facebook and Instagram.

Support independent Islamic website.

Support our mission to spread Islamic knowledge. Your donation helps our volunteer writers and infrastructure. Contribute now.

Accepted Payment Methods
Total
0
Shares
Share
Tweet
Pin it
Share
Share
Share
Subscribe
Notify of
guest

2 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
Previous Article
anti islam group danish nationalists

Anti-Islam Group Burns Quran in Copenhagen Under Police Watch

Next Article
verbal abusing chilren hitting

Islam About Verbally Abusing And Hitting Children

Related Posts