A seminar on digital currencies was held in Pakistan
Muslims are on the path to accepting cryptocurrency
01.03.2022 - 15:15
340
1 min
0
What’s new? A seminar on “Technical and Shariah Status of Digital / Cryptocurrency” was held in Pakistan where the Chairman Shariah Advisory Board of the Bank Islamic Mufti Irshad Ahmad Ijaz spoke. The Islamic scholar said that cryptocurrency is not a fictitious currency and should be recognized if certain conditions are met. The speaker urged his colleagues to conduct research on crypto-economics and share their findings. According to him, the government of Pakistan should help develop the cryptocurrency industry.
Who took part in the seminar? Dr. Ishaq Alam said that in the age of technology, the world is rapidly moving towards a digital system. He believes that it is the task of scientists to conduct research on digital currencies.
Dr. Farrukh Habib, the co-founder Alif Technologies Dubai, spoke to the audience about the types of cryptocurrencies, their characteristics, and how they can be used, highlighting their legal status in the world.
Also present at the event were the Dean Faculty of Islamic Studies Professor Dr. Zahid Ali Zahidi, the Chairman Karachi University Business School Dr. Danish Ahmed Siddiqui, the Director of the Al-Asr Foundation Maulana Fazal Subhan, and others.
What preceded it? The Muslim Spiritual Directorate has recognized cryptocurrencies as a sin because they are similar to gambling. Digital currency is often used to defraud users, contrary to basic Shariah principles.
In November 2021, the National Ulema Council of Indonesia has banned Muslims from using bitcoin and other cryptocurrencies throughout the country.
Useful material?
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024