I was have 1000$
I started trading with levrege (haram)
And i loose 700$
Then i do some profits
Now i have 300$
And i stop trading with levrege
So should i keep the 300$ or no ?
Assalamu Alaikum Mufti Saab,
I do have a similar question. I invested in Synthetix (SNX) back in 2018 (It was Havven back then) and to my understanding, it appeared to be halal as I was only avoiding projects involved in Interest, gambling, entertainmnet, alcohol and gaming (general understanding). Then this investment stream died off due to low market movement and revived again in last few weeks and then I started to researcher more and came to know SNX is a non-Shariah complaint project because their ecosystem is based on derivatives trading. I made some profit but I am planning to sell the coins. Now the question is, am I allowed to keep the profit since I sincerely didn’t think it was Haram when I invested.
Can you please clarify? I know you receive hundreds of questions every day but if you could spend a few minutes, I would really appreciate it.
Jajakallahu Khairan
Jamil
Assalamu Alaikum @Mufti_Faraz_Adam @Mufti_Billal
Would you please consider answering my question above? I believe a lot of other people will be benefitted from your answer who are in a similar situation.
Jajakallu Khairan
Jamil
As Salaamu Alaykum,
I’m not a Mufti but my understanding is that the profits should be donated regardless of whether you knew at the time that it was haram. When you do know that money came from a haram source, then you should rectify it as quickly as possible.
It would be best if a Mufti can provide an answer in case I am wrong and to provide closure.
Allah SWT knows best.
As Salaamu Alaykum.
Very good question. Unfortunately, I don’t have even the slightest clue what the correct thing to do here is. Sorry. Insha Allah someone else can reply.
Jazak Allah Khair for asking. The answer would be very useful for all of us who invest
Assalamu Alaikum @mouseymat @Aymen_Aymen
Thank you for taking the time to read the post and sharing your thoughts. Indeed I am looking for a definitive answer and eagerly waiting for @Mufti_Billal or @Mufti_Faraz_Adam to kindly spend a few minutes and shed some light on the confusion. I do understand your point and appreciate your reply. I believe a lot of people like myself is in the same boat who have invested in these Crypto projects years back when there were not enough Shariah resources for guidance so clarifying this confusion will surely benefit many of us.
Wassalam & Jajakallahu Khairan
1 Like
Salaam.
To clarify, did you start trading $1000 with leverage, lose $700 and then take out $300?
Or did you take out your $300, in addition to getting $300 in profits?
I thought it was the latter. Meaning you lost $700. And then afterwards had $600, after getting $300 more.
If you only have the $300 after losing $700, I think it is ok to keep the $300 Insha Allah. That $300 was still your money; you’ve only made a loss. If you made profit, then you would need to donate your profits.
But if you lose $700 and then get $300 more by trading again, then it is complicated (in other words, I don’t know lol)
I am asking so that if the Muftis see this, they know what you meant.