Is cryptocurrency and online forex trading legal in Islam, and is it permissible to benefit from bank accounts?: these were some of the questions from participants that were answered by religious scholars at the three-day International Sunni Ijtema that ended on Sunday.
Around three lakh people participated in the event, one of the largest Sunni religious gatherings, that was held at Azad Maidan.
This year, apart from the discourses and discussions on religion and the life and teachings of Prophet Mohammad, the founder of Islam, religious scholars also addressed concerns and questions about more secular aspects of life. One participant wanted to know if online forex trading was permitted under Islam. Mufti Nizamuddin, head of Islamic University Ashrafia Mubarakpur, who moderated the session, said that online trading in forex is allowed but added that only those with a good knowledge of the subject should trade in it.
New religious graduates | FPJ
Shakir Noorie | FPJ
Answering a question about bank accounts, the Mufti said that Islamic law permitted benefits from the accounts. About cryptocurrency, participants were told that they should trade in it only if it is legal in the country of their residence. Manufacture of counterfeit products and illegally using the legal name of other registered companies was an unethical practice, the Mufti said. He also answered questions on the acceptability of mediclaim policies, saying that medical expenses have increased and the policies contributed to public service.
In keeping with the idea of featuring contemporary issues in the religious meet, a panel on climate change explored India’s zero-carbon mission and sustainable career options. Barrister Moinuzzama from the UK, who highlighted Europe’s climate challenges and solutions, said that planting trees, as advocated by Prophet Muhammad, was a key response to climate change.
Allama Shakir Ali Noorie. president of Sunni Dawate Islami which organises the event said that the sessions on trading and investments were added because Islam also prescribes the right way to earn a living. “Just like everyone is asked to eat the right food, there are also rules about earning money in the right way,” said Noorie.
Another discussion was on the challenges of school dropouts, post-COVID learning gaps, Muslim representation in defence and public sectors, and use of technology in improving learning outcomes. There was also a session on career counseling.
This was the 32nd annual Ijtema. Speaking about the legacy of the event, Noorie said that over the last three decades, thousands of young people have received guidance about life, religion, and career.
