Shariah Board Clears Bitcoin

Ras Al KhaimahA shariah board cleared Bitcoin trading.

Muslim savers in the United Arab Emirates can trade Bitcoin without abandoning conviction.

Rulings on crypto turn on whether volatility constitutes gharar, the excessive uncertainty that voids an Islamic contract.

AAOIFI has yet to rule on crypto system-wide, leaving each Gulf bank’s board to decide alone.

Sources: Salaam Gateway