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Permissibility Of Trading Foreign Exchange At Spot
Is Forex trading where Islamic banks buy and sell foreign exchange at spot (where spot here means transaction settlement after 2 business days)Shariah-compliant?
The scholars permit the settlement of spot transactions to take place 2 business days after the actual transaction provided that the buyer does not sell the item before taking legal constructive possession of it. If all other aspects of the foreign exchange trade are permissible, then this would be allowed.

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