Islamic Coin Gains Fatwa From Leading Global Muslim Scholars
- The Islamic coin was endorsed as a result of its dedication to charity as well as its decentralized nature.
Global Muslim authorities have pronounced a breakthrough “fatwa” on the Shariah-Compliant virtual currency, identified as Islamic coin. The legal proclamation was led by a popular Sheikah, identified as Dr.Nizam Mohammed Saleh Yaquby.
Notably, Yaquby is the gatekeeper of about $2 trillion in markets relating to Islamic financial products. However, the authorities mandated the Islamic Coin’s management with the initiation of an immutable, independent financial system of the asset.
Furthermore, the native currency of Haqq Blockchain, the Islamic coin, obtained Fatwa from the governing authorities on records of its use of proof in stake mining. Islamic coin also received Fatwa as a result of its dedication to charity as well as its decentralized advantage.
Islamic Coin to the World
Islamic compliance with cryptocurrencies and the virtual sector has been a debatable issue prior to this moment. The establishment of this Islamic virtual currency will be first to align with the principles of Islam while formulating a method to serve and empower the Muslim community.
This development tends to offer direct value and encourage the principles of Islam through blockchain and innovations. The Islamic coin co-founder, Mohammed Alkaff hinted that his team is delighted to build and deliver a Shariah-compliant, immutable and independent financial system.
According to him, the Islamic coin aligns with the principles of Islam. According to him, a pillar of stability, fused with values is future-proof in a changing world.
Notably, the Islamic Coin Management Board is assigned the responsibility of supervising the advancement of ISLM virtual currency as well as the Haqq blockchain. As designed, its team of developers consists of leading figures in both Islamic and traditional finance.
Also, the agency strives toward attaining global significance. One of the members of the team is a well-known Islamic Banker, identified Mohammed as Al Meeza.
Mohammed is a 27-year veteran and a heavyweight figure hugely recognized at the Dubai Islamic Bank, the world’s first fully-fledged Shariah Compliant financial institution.
More so, he was a founding member of Emaar Properties and is now a board member of the General Council of Islamic Banks and Financial Institutions. As reported, Mr. Mohammed is one of the renowned and highly revered authorities in the emerging Shariah and traditional banking within the middle-east.
Another member of the Islamic coin team is Peter Rafferty. Peter possesses an overwhelming track record and antecedents, spanning the $600 billion portfolios of the Abu Dhabi Investment Authority. More so, Mr. Peter also holds leadership positions in the US Chamber of Commerce to this moment.
As announced, the new Islamic coin will be launched via a private sale, before commencing live operations in top global virtual exchanges.