The Islamic world seems primed for widespread digital asset adoption, as well-respected scholars claim that crypto trading is fully compatible with Sharia law. Even though in most western countries today, matters related to religion and money have been independent of one another. However, in Islam, especially those following the Shariah code of ethics, the two […]
Continue Reading
Experts in Islamic finance take on the question: Is Bitcoin Halal or Haram according to Sharia law? The rise in popularity of Bitcoin (BTC) and other cryptocurrencies has led to the discussion among Islamic scholars about digital currency’s compliance with Islamic canonical law. Islamic law — known as Sharia — is based on the teachings […]
Continue Reading
Skepticism to crypto in Islamic countries is not a pure rejection, but a result of uncertainty, according to an Islamic finance expert. The issue of Shariah acceptability of crypto is a matter of time and raising awareness, according to an Islamic finance expert based in Malaysia. Skepticism of crypto stems from uncertainty Suhaida Mahpot, CEO […]
Continue Reading
Iran is wrestling with the rising number of citizens turning to Bitcoin mining and usage as a means of coping with a sanctions-crippled economy. Iranian authorities are wrestling with the rising number of citizens turning to Bitcoin mining and use as a means of coping with a sanctions-crippled economy. Iran’s minister for information and communications […]
Continue Reading
Malaysia has rolled out a work visa program targeting tech freelancers that addresses a demand for blockchain capable talents. Malaysia has launched a work visa program targeting tech freelancers that addresses a demand for blockchain capable talens, local news outlet the Star reported on June 18. The Malaysia Digital Economy Corporation (MDEC) — a government-owned […]
Continue Reading
The Iranian national digital currency is still underway. Time for an overview on a controversial issue in a controversial country. From Jan. 29 to 30, Tehran hosted the eighth annual conference on Electronic Banking and Payment Systems, which was promoted by the Monetary and Banking Research Institution, the research arm of the Central Bank of […]
Continue Reading
Al Hilal Bank has completed “the world’s first sukuk transaction” using blockchain technology. Al Hilal Bank, based in Abu Dhabi, the United Arab Emirates (UAE), has announced it has completed “the world’s first sukuk transaction” with the use of blockchain technology, Reuters reports Nov. 26. Sukuk, a legal instrument also known as “sharia compliant” bonds, […]
Continue Reading
Switzerland-based fintech firm X8 AG has received a certification from the Shariyah Review Bureau for its ETH-based stablecoin. Switzerland-based fintech firm X8 AG has received a certification from the Shariyah Review Bureau (SRB) for its Ethereum-based stablecoin, Reuters U.K. reports Nov. 12. SRB is a leading Sharia consultancy and audit firm licensed by the central […]
Continue Reading
sponsored The exchange will be operating in “full compliance with the principles of Islamic finance.” A Shariah Advisory Board to decide which coins will be listed. The ADAB Solutions project, based in the United Arab Emirates, is planning to launch FICE — the First Islamic Crypto Exchange which will be operating “according to the […]
Continue Reading
News has come out that the Islamic scholar, Muhammad Abu-Bakar of Blossom Finance in Indonesia has declared Bitcoin permissible under Sharia Law. This would bring in a potential 1.6 billion Muslim investors from around the world. The study was published just prior to the huge spike in the price of Bitcoin seen on April 12th, […]
Continue Reading