Assalamu Alaikkum,
Is trading on commodities halal? I note that Wahed invest has a percentage of the investmemnt on commodities. From what I understand, it is quite common in commodity trading to sell things one does not own, which as I understand is completely prohibited in Islam. Can you please clarify how they make it halal?
JazakAllah khair!
Wa alaykum salaam,
It all depends on whether you get ownership of the commodities. Wahed Invest’s commodity trading is Shariah compliant.
Conventional exchanges often trade commodities through CFDs, which are not Shariah compliant.
Assalam Alaycom mufti,
Wahed commodity invest is limited to gold
Some people invest in shariah compliant precious metals but is any shariah compliant commodities etfs rather than precious metals
Salem