Critical evaluation of the compliance of online Islamic Forex trading with Islamic principles
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Date
2015Type
Article
Publisher
Emerald Group Publishing Limited
ISSN
1753-8394
Metadata
Show full item recordAbstract
This paper explores Web-based forex trading which is currently being promoted as as a possible
investment opportunity, especially for those of the Islamic faith who are prohibited from dealing in
interest-based transactions. Islamic forex is promoted to them as a permissible trade in currency
from which they can profit.
This paper evaluates the compliance of Islamic Forex trading with Islamic principles through the
research question: What is the role of Islamic jurisprudence rulings in promoting or prohibiting forex
trading? How Islamic forex trading differs from conventional forex to meet the principles of
`Islamic` finance? And finally, can international modern financial institutions operate without the
use of such a tool?
Journal/conference proceeding
International Journal of Islamic and Middle Eastern Finance and Management
Citation
Omar, R. & Jones, E. (2015) 'Critical evaluation of the compliance of online Islamic Forex trading with Islamic principles', International Journal of Islamic and Middle Eastern Finance and Management, 8 (1), pp. 64-84
Description
This is an Accepted Manuscript of an article published by Emerald Group Publishing Limited in International Journal of Islamic and Middle Eastern Finance and Management. The final published version is available at http://dx.doi.org/10.1108/IMEFM-06-2014-0059
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