9. Options & Derivatives

I will not explain these in detail as it will be too long and draggy, unsuitable for common Muslims like you and me. Just know that these products can be found in the stock market along with shares and you should be careful and avoid them when looking for shares to buy on the market. If I have to try and describe them as briefly as possible, I would say that Options and Derivatives are made up products based on gambling and are entirely Haram. I may be a little wrong describing them, but they are Haram either way.

Next Chapter...

Comments

Post a Comment

Popular posts from this blog

It is difficult for us Muslim minorities in Singapore to take care of our finances in a Halal manner when we live in a westernised society like Singapore. How do we ensure our money stays Halal when there are so many things Haram so easily accessible to us? As a millennial growing up in Singapore, I have gotten used to searching the internet for answers whenever I’m in doubt. So, it’s easy, isn’t it? Just google Islamic Finance and ta-daa! You are set and ready to manage your finances in a Halal way! Right? Umm, yeah. It’s not that simple. In my searches, what I found online are pages of pages of text describing Syariah law and references to Hadiths describing the reason behind each and every law with regards to finance. Though it is good to know your Hadiths, most of us common folk do not have the time to search every inch of the internet and refer to scripts every time we need to make a financial decision. By the way, I did all of that. And I decided to simplify it for the rest of y...
Read more