3 – Index trading:
A market index is a numerical figure computed by a special statistical method for the purpose of measuring the degree of change in a given market, and in some international exchanges it is itself the subject of trades. Buying and selling an index is impermissible, for it is nothing but sheer gambling and involves selling an intangible, non-existent entity.

4 – A Sharīʿa-compliant substitute for the prohibited transactions in commodities and currencies:
An Islamic market for commodities and currencies should be organized on the basis of lawful contracts—especially salam (pre-paid forward sale), ṣarf (currency exchange), a unilateral promise to sell at a future date, istisnaʿ (commissioned manufacture), and the like. The Academy is of the opinion that a comprehensive study is needed to spell out the conditions for these alternatives and the means of implementing them within a regulated Islamic market.

Fourthly: Credit cards

Definition:
A credit card is a document issued by a provider to a natural or juridical person, pursuant to a contract between them, enabling the holder to purchase goods or services from parties that accept the document without paying the price immediately, because the issuer guarantees payment. Some types of card also allow the withdrawal of cash from banks.

Credit cards take several forms:
– One form in which withdrawals or payments are debited directly to the cardholder’s account with the bank, not to the issuer’s account; such a card is fully covered.
– Another form in which payment is made from the issuer’s account, with the issuer later recouping the amount from the cardholder at regular intervals.
– A further form that imposes ribā (usurious interest) on the total outstanding balance during