Are cryptocurrencies, forex and CFDs halal?

12/6/2021 9:35 AM
Stock graphic - bitcoin

The asset class that is causing the most buzz at the moment is cryptocurrency

In this The Halal Money Show segment, we look at what cryptocurrency is, whether it is a good form of investment and most importantly, how it is viewed from an Islamic perspective.

Host Ibrahim Khan also delves into forex and other similar investments to see whether they are halal.

"There is a brave new world of online investing out there. Some of it is risky, some of it is a scam, but some of it is very much legit. There are definitely people losing money and there are definitely people making a lot of money. Not all of it is halal, but there is some halal to be found," says Khan.

He adds that this type of investing is not for the faint hearted. But if your risk appetite is higher, and you can put the time to research it properly, then this could be something to look further into.

The segment was taken from Islam Channel's new series - The Halal Money Show. You can watch the whole episode on catchup. 

Hosted by Ibrahim Khan, The Halal Money Show is on every Wednesday at 8pm. In the series, he will look at different themes around Islamic finance over the coming weeks. Each episode includes explainers and discussions with halal finance experts.

The series is sponsored by Wayhome, the new halal way to buy a home.