Investing in a forex bureau

Question:-

Is it permissible for me as a Muslim to invest in a forex bureau?

Answer:-

Your query doesn’t provide much detail in regards to the investment. If this is an investment opportunity whereby a forex bureau is set up and currency exchanged for clients in lieu of a fee, then such a business is acceptable in terms of Shariah. You, as a passive investor, may invest in such an investment.

Our ruling is based on the assumption that this is a forex bureau whereby people will exchange currency at a stipulated rate and nothing more. If they will be carrying out any dubious transactions then you should refer to the scholars in regards to such transactions.

Also, our Fatwa pertains to the Shariah aspect of running a forex bureau. We are in no way approving (by means of our Fatwa) the operation of an illegal financial institute that is not a registered operator.

ALLAH TA’ALA KNOWS BEST!

ANSWERED BY:

Mufti Mohammed Desai

Date: 29 Rabi-ul-Aakhir 1434 / 04 December 2021