Critical evaluation of the compliance of Online Islamic forex trading with Islamic principles.pdf (1.27 MB)
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Critical evaluation of the compliance of online Islamic Forex trading with Islamic principles

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journal contribution
posted on 04.03.2022, 12:54 by Rafik Fakhry Omar, Eleri Jones
This paper explores Web-based forex trading which is currently being promoted as as a possible investment opportunity, especially for those of the Islamic faith who are prohibited from dealing in interest-based transactions. Islamic forex is promoted to them as a permissible trade in currency from which they can profit. This paper evaluates the compliance of Islamic Forex trading with Islamic principles through the research question: What is the role of Islamic jurisprudence rulings in promoting or prohibiting forex trading? How Islamic forex trading differs from conventional forex to meet the principles of `Islamic` finance? And finally, can international modern financial institutions operate without the use of such a tool?

History

Published in

International Journal of Islamic and Middle Eastern Finance and Management

Publisher

Emerald

Version

AM (Accepted Manuscript)

Citation

Omar, R. & Jones, E. (2015) 'Critical evaluation of the compliance of online Islamic Forex trading with Islamic principles', International Journal of Islamic and Middle Eastern Finance and Management, 8 (1), pp. 64-84

Print ISSN

1753-8394

Cardiff Met Affiliation

  • Cardiff School of Management

Cardiff Met Authors

Eleri Jones

Cardiff Met Research Centre/Group

  • WCTR (Welsh Centre for Tourism Research)

Copyright Holder

© The Publisher

Language

en