In a previous posting Islamic Legality of FOREX business, the matter of forex transactions was highlighted briefly and since that blog-post, I have been thinking to write on the issue in some detail and therefore undertook a long pending writing commitment which includes my further understanding on the issue from Islamic perspective.
On a regular basis, I receive inquiries from visitors of my website asking for the legality of forex business from Islamic point of view, sometimes the hammer is straight – is it halal or haram? It looks these callers had done some Internet research on the subject and still searching for an answer or need to explore other point of views.
The arising of a question in mind/intellect necessarily generates a subject of study in unison; a thinking process starts with the inception of a question and like many other thinking minds, since quite some time I have been looking for a precise answer to this meticulous question that is:
What is "a subject" or "a branch of learning" or "a field of study"?
The article addresses one of the most debated query in Islamic history asking for the justification of allowing “mark-up” in a deferred sale but not allowing “interest” in loan, i.e., in other words of present context it asks what is the difference in Murabaha Financing (cost plus) and Lending on Interest (principal or loan plus)?
There are plenty of blog scripts and platforms available free on the Internet (like wordpress, nucleus, b2evolution etc.) as well as some free blog hosting services (like blogger). It has now become very easy to make a separate blog section on your site, only a little theme development effort is required if you have an existing website and want to preserve its present style.
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