All praise be to Allah, and may his peace and blessings be on the last and best prophet and messenger, Muhammad.

The wearing of a wedding ring is an innovation that was adopted by the Muslims in some countries. It has the following problems: 

1.      It does not have any basis in our religion, and the rituals of marriage are related to one`s religion.

2.      It is imitation of the non-Muslims in their ritualistic customs, and that is forbidden.

3.      It may be gold and wearing gold is forbidden for men.

4.      The fiancé may put it on his fiancée`s hand, and that is forbidden for she is still a foreign woman to him.

5.      It may be associated with the belief that it may bring about affection between the spouses and that is ignorance and misguidance and it is a form of shirk.

It remains to be said that buying a ring for the spouse as part of the dowry is permissible, but should not look like the ring worn for the purpose of engagement or marriage. also, wearing rings in general is allowable for both men and women.

Some scholars would disagree with this position and we have nothing but respect for them, even though we reserve the right to disagree and firmly uphold our position. 

Allah knows best.