Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Tnoy30 on July 16, 2021, 03:04:13 PM
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We are looking forward to having it blessed, but we're not looking forward to having a Sharia council because it's a burden."
While Islamic scholars have long wrestled with the question of whether cryptocurrency is halal, what if it’s really fiat that isn’t permissible?
Islam has strict rules around finance, and it historically defines currency as commodities with intrinsic value — gold, silver, or salt, among others. Waseem Mamlouk, from the DeFi platform Nimbus, argues that government-issued fiat currencies do not have any intrinsic value and may be incompatible with a careful interpretation of Sharia law. This would pose a problem for the burgeoning Islamic finance industry, which aims to produce financial returns in compliance with religious law.
Source: DeFi can be halal but not DOGE? Decentralizing Islamic finance
(https://cointelegraph.com/magazine/2021/07/16/defi-can-be-halal-but-not-doge-decentralizing-islamic-finance)