Finance & Capital Market

Islamic Coin gains Fatwa from leading global Muslim scholars

Islamic Coin (ISLM), the Shariah-compliant digital currency has gained a Fatwa (legal ruling or endosrsement) issued by the world's leading Muslim authorities. 
 
The edict was led by Sheikh Dr Nizam Mohammed Saleh Yaquby, recognised as 'The Gatekeeper' of the $2 trillion market for Islamic financial products. 
 
Entrusted with building the autonomous, immutable independent financial system is Islamic Coin's Management Board, tasked with overseeing the development of the ISLM coin and its Haqq blockchain. 
 
Leading figures
The award-winning team boasts leading figures in both Islamic and traditional Finance and wields global influence. The list features Islamic Banker of the Year Hussein Mohammed Al Meeza, a 27-year veteran and key figure of Dubai Islamic Bank, the first fully fledged, Shariah Compliant financial institution in the world. As Founding Member of Emaar Properties and Board Member of the General Council of Islamic Banks and Financial Institutions, Al Meeza is one of the leading authorities in Shariah and traditional banking in the Middle East. 
 
Islamic Coin's influential who-is-who also includes Peter Rafferty, with a track record spanning the $600 billion portfolio of the Abu Dhabi Investment Authority as well as leadership roles in the US Chamber of Commerce.
 
Proof-of-stake mining
Islamic Coin, the native currency of the Haqq Blockchain received the Fatwa from leading authorities based on its use of proof-of-stake mining, dedication to charity and the decentralised nature of the ISLM coin.
 
Shariah compliance has long been an issue in crypto and Islamic Coin has become a world first to not only honor the principles of the Quran, but in creating an instrument to serve and empower the Muslim community, while delivering direct value and promoting the principles of Islam via blockchain and innovation.
 
"We are proud to build and deliver a Shariah-compliant, immutable, independent financial system that serves the Muslim community and beyond. A pillar of stability, intertwined with values that are future-proof in a changing world," commented  Islamic Coin Co-Founder Mohammed Alkaff.
 
Islamic Coin (Islamiccoin.net) will be launching via a private sale and then into top global exchanges shortly.-- TradeArabia News Service