4.

Scholars ka Opinion

Haram View (Majority):

Mufti Taqi Usmani aur OIC Fiqh Academy ke mutabiq zyadatar futures haram hain kyunke:

Physical delivery nahi hoti.

Extreme speculation hoti hai (qimar jaisa).

Leverage me riba shamil hota hai.

Contract “aapke paas jo maal nahi” uski sale ban jata hai, jo forbidden hai.

Halal View (Minority):

Kuch Malaysian scholars kehte hain agar:

Asset halal ho.

Physical delivery possible ho.

No interest borrowing ho.

Risk ka level control ho.

To future trading allowed ho sakti hai.

5.

Haram Hone ki Wajahen

Speculation → Gambling type behavior.

Physical delivery ka na hona → Invalid sale.

Leverage with interest → Riba.

Price manipulation ka risk.

6.

Halal Future Trading Possible Hai?

Yes, lekin strict conditions ke saath:

Asset real aur halal ho (oil, wheat, gold etc. – no haram goods).

Delivery actual me ho, na ke sirf cash difference.

Pure apne capital se trade karo, interest-based leverage avoid karo.

Exchange Shariah board se approved ho (jaise Malaysia’s FCPO contracts).

7.

Alternatives Jo 100% Halal Hain

Spot trading halal assets me.

Islamic stocks aur ETFs.

Sukuk (Islamic bonds).

Halal mutual funds.

Real estate investment without interest.