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#TRENDING STORIES
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Blockchain Expo 2018: Unlocking the Internet of Value • April 18-19, 2018
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Tag: Islamic finance
Agency Declares Cryptocurrencies as ‘Halal,’ Permits Muslims to Invest in Bitcoin and Cryptos
Category: Bitcoin, Blockchain, Business, Commentary, Finance, News
Amongst the neverending chaos surrounding it, one question that stands out is bitcoin’s compliance with the religious ‘Shariah’ law. To answer that, Blossom Finance, a microfinance firm based in Indonesia, published a detailed 22-page paper this week which inferred “Bitcoin qualifies as Islamic money, except where it is banned by a local government.” Is Bitcoin ‘Halal’? Since bitcoin has gained momentum…
How Bullion is Playing a Role in Attracting Islamic Investors to Cryptocurrencies
Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News
While the world argues over bitcoin’s legality and blockchain use-cases, another type of conundrum is brewing in Islamic countries – their religion essentially prohibits speculative investments. Yet, Dubai and other cities seem to have found a way around this, such that their citizens can invest in cryptocurrencies keeping in mind both its financial and religious risks. In the rulebook of…
Bitcoin and Sharia Compliance: How Halal is Bitcoin?
Category: Bitcoin, Commentary, News, Regulation
As global bitcoin adoption is rising and bitcoin usage is expanding into markets such as the Middle East, Indonesia, Malaysia and other predominantly Muslim regions, the question of whether the cryptocurrency is compliant with the pillars of Islamic finance becomes more and more topical. Sharia-compliant Finance Sharia law requires a currency to have intrinsic value. What that means is that…
