Assalamu-Alaikum! Is trading Federal Instruments like bonds and treasuries halal? A muslim brother is telling me it is trading paper which is a commodity? Wassalam Altaf

AAWW

Bonds and treasuries (T-Bills) reflect an interest-bearing loan in which you play the role of the creditor, while the government is the debtor. Obviously, it is prohibited. The alternative is to trade in stocks if those stocks belong to a Halal business.