“Forex Trading Considered Forbidden in Egypt According to Dar Al Iftaa Fatwa”

Written by Ahmed Arafa

Monday, May 15, 2023 09:09 PM

Sheikh Ahmed Wissam, Secretary of the Fatwa at the Egyptian Dar Al Iftaa, said that currency trading known as “forex”, as it was presented at the time, is considered forbidden in its entirety, pointing out that the Dar Al Iftaa issued a fatwa for it six years ago about it, after a thorough study with a number of specialists.

And the Secretary of the Fatwa at the Egyptian Dar Al Iftaa continued, during the episode of the “People’s Fatwas” program, broadcast on “Al-Nas” satellite channel, today, Monday: “The problem is with forex money, that every day it develops from the second, when it was presented to us 6 years ago, we found that it is forbidden in its entirety, And when it was shown again in 2018, we found that it exceeded the caveats.

And he continued: “There are different transactions that need individual study, and whoever has a contract for trading carries items that he goes to Dar Al Iftaa to obtain an individual fatwa on it, which may differ from the overall trading,” according to his response to a related question.

The United Media Services Company had launched the “Al-Nas” channel in its new form, by reviewing a group of its programs and the new map that will be broadcast on its screen during 2023.

Al-Nas channel broadcasts, on frequency 12054, several programs for women and children, as well as religious, youth and cultural programs, covering all aspects of life.