Islamic jurisprudential analysis of the international Forex market, relying on its prohibition in Iran's laws

Type : Research Article

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Abstract

Foreign exchange trading or "Forex" is a decentralized global market in which currencies are traded in pairs and traders benefit from currency price changes. The ban on this market by the Iranian legislator should be taken into consideration. This article assesses the angles of these transactions by examining the nature of the Forex market and complaining about it in a descriptive analytical approach. The arguments presented based on the similarities of gambling transactions are reasons for the illegal Forex market. Because financial damage is not just for a trader and in turn affects many communities; several laws, including injunctions, bans on deception, profits in the country, etc., are the basis for analysis and evaluation. The article has been studied. With all of the above, not only religious status, but also the prohibition of these transactions is clear in Iran's law.

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  • Received: 23 April 2018
  • Revise Date: 10 August 2018
  • Accepted: 23 August 2019

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