Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

One of our brothers/sisters has asked this question:

As salaam aleikum Warahmatullah

As i told earlier as well i forward your Q&A to my mailing list, one of my friend has asked on question to you via me, please answer.

I Searched some of the Islamic blog to find out whether the commodity trading is halaal or not, then I found some of the most confusing answers which went in both the ways. Could you please ask Buran Bhai about the same and let me know. Because I have invested in this and doing day trading on crude oil.

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Answer:

Commodity trading lawful

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

In light of the guidance of the Quran and the Sunnah, the majority of the scholars and jurists in Islam are of the opinion that the buying, selling and trading of lawful commodities is held permissible in Islam, provided the trading and exchange is done on spot payment. Please note here that ‘margin-trading’, ‘puts’, ‘calls’, ‘straddle’ or any of the derivatives other than spot trading are held unlawful and prohibited in Islam. And Allah Alone Knows Best.

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

Your brother and well wisher in Islam,

Burhan