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Islam and crypto: How digital assets can comply with Islamic financial law
6.4.2023
A look at cryptocurrency’s role in the world of Islamic banking and finance
IMF examines CBDC design in context of Islamic banking, finds some risks magnified
20.3.2023
A central bank digital currency’s liquidity and foreign exchange would work differently Islamic law from what might be expected
Teen Detained After Playing On ISIS-Themed Roblox Servers
22.2.2023
A 16-year-old boy has been detained by Singaporean authorities under the country’s strict new terror laws, after he was found to have been playing on ‘multiple Islamic State-themed servers on Roblox’.Read more
Iran Returns Seized Crypto Mining Equipment to Miners
3.1.2023
A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners have been blamed for power shortages....
Is Bitcoin Halal or Haram? Here’s What Islamic Scholars Are Saying
4.11.2022
Bitcoin and other crypto assets have Islamic scholars racking their brains as they attempt to discern how this new technology fits into Islamic finance, a concept that already dates back 1,400 years.
Read on to discover the opinions of various Islamic scholars and an answer to the question:...
DeFi platform sees strong interest in halal-approved crypto products
20.9.2022
Navigating crypto is made more difficult for those with religious considerations and the founder of an Islamic law compliant DeFi platform has thousands of users seeking approved cryptocurrencies
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
14.8.2022
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....
Report: Terror Groups Using South African Financial System to Move Funds
28.7.2022
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused...
NFT and Islamic education: A new frontier to teach religion?
20.7.2022
In terms of whether NFTs are halaal or haram, Islam is usually taught with the intention of fitting into the world's ever-changing demands, said Shukla
Kuwait-Based Islamic Bank Enters the Metaverse
3.7.2022
Warba Bank, a Kuwait-based Islamic bank, recently became the latest corporation from the Middle East and North Africa (MENA) to enter the metaverse. The bank now occupies two sites in the metaverse, one Decentraland and another one on Sandbox. Pioneering Digital Transformation In what has been...
Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months
26.6.2022
The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From...
Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand
21.6.2022
Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt...
Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000
14.5.2022
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues...
MENA Islamic Banking & Finance Summit 2022 Going to Take Place This March in Dubai
2.3.2022
The global Islamic finance industry has expanded 10% to 12% in 2021-2022. The expansion of Islamic banking and Islamic financial assets in the Middle East region along with Malaysia and Turkey has been robust. The Islamic finance industry is positioning itself towards more sustainable growth,...
Islamic Scholar Says Digital Currency is Not a ‘Fictitious Currency’
1.3.2022
An Islamic scholar, Irshad Ahmad Ijaz, has asserted that digital currency is not fake currency and that it should be legitimized once certain conditions are met. Ijaz’s viewpoint is echoed by other scholars that attended a seminar examining the status of digital currencies from...
Indonesian regulator takes cue from Islamic NGOs, bars crypto sales for institutions
25.1.2022
The warning from the Financial Services Authority (OJK) comes on the heels of several calls for a crypto ban from Islamic NGOs in the country
Iran to Pilot ‘National Cryptocurrency,’ Considers Blockchain Tech for Stock Market
22.1.2022
The Central Bank of Iran soon plans to launch the pilot phase of its digital currency project, an official unveiled. The Islamic Republic hopes to a join a growing club of nations that want to take advantage of having a sovereign coin, while it also seeks to implement blockchain technology in other...
Indonesian Islamic organization issues new fatwa against crypto use
20.1.2022
The fatwa pointed towards two critical issues with cryptocurrencies that make them illegal as an investment tool as well as a medium of exchange
Iran Orders Crypto Miners to Halt Operations to Prevent Winter Blackouts
26.12.2021
Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September. Crypto Mining Farms...
Indonesia’s Islamic Authority Declares Cryptocurrency Haram, Forbidden for Muslims
11.11.2021
Indonesia’s top Islamic body, the country’s authority on Shariah compliance, has reportedly declared cryptocurrency haram, forbidden for Muslims under Islamic law. The Indonesian Ulema Council explained that crypto has elements of uncertainty, wagering, and harm. Cryptocurrency...