Professor of Islamic Finance & Economics
Dr. Monzer Kahf
Hamad bin Khalifa University, Qatar
Syrian-American economist who pioneered modern Islamic economic theory. Long-time consultant to the Islamic Development Bank. His fatwas on derivatives, forex, and risk-sharing instruments are widely cited in academic Islamic finance.
Areas of expertise
Notable work
- Islamic Economics: Its Methodology and Fiqh
- Numerous IDB working papers on murabaha and ijara
Cited in these rulings
Is using leverage in trading halal?
Leverage itself is disputed. Some scholars permit it when it does not involve interest. Others treat broker-funded leverage as a riba-bearing loan in disguise. Most agree that excessive leverage crosses into maysir (gambling).
Is day trading halal?
Day trading shariah-compliant instruments through a swap-free account is permissible. The risks are practical (most retail day traders lose money) and ethical (when speed and leverage push the activity toward maysir).
Is margin trading halal?
Conventional margin trading is impermissible. The broker is lending money to the trader and charging interest on the loan — riba in plain form.