Halal or haram: Multi-Level Marketing & Forex Trading

[a.danhamidu]

Asalamu alaikum, I would like to know about the permissibility of Multi-Level Marketing and Foreign Exchange trading (as a source of a Muslim's income) in Islam.

[ardianto]

Wa'alaikumsalam, brother. Welcome to the forum.

Question halal or haram for MLM and Forex Trading is indeed, bit confusing, not because there's no Islamic rule for this, but because MLM and Forex Trading have developed into various forms that far enough from the original form. However, from fatwa from Indonesian Ulema Council, can be concluded that ........

Multi Level Marketing (MLM) is halal if ......

1) The members are not obligated to buy. It's mean, the member buy only if he/she wants to resell the products to consumers.

2) The product prices are reasonable, not too high if compared with similar products in the market.

3) The members are not obligated to pay if they want to join.


And Forex Trading is halal if .....

1) Not for purpose of speculation, or only to gain speculative instant profit.

2) The purpose is to fulfill the need of international trading transaction, or to fulfill the need of people who want to do international transaction (like in money changer)

3) The payment should be cash, instant, and not delayed, except if there is administrative reason like the time to send the money.

4) it should follow the exchange rate that valid in the transaction time.


Just a little explanation from me. Hopefully it useful. :)

[a.danhamidu]

Verrrrry useful, thanks so much. May Allah reward abundantly you for enlightening me on this, ameen.

[ardianto]

Ameen, and you're welcome.

Okay,brother Ahmad, I hope you are join in this forum not only to ask this question. There are many interesting threads here where you can participate. Or maybe you want to start new topic?.

We are waiting for your next posts.

:)


Edit: Opps, sorry. I did not aware that you have made another thread before. :)