Category: Islamic Banking

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‘Islamic Coin’s Legitimacy as a Sharia-Compliant Cryptocurrency Is Proven by Its Fatwa’ — Co-Founder

September 10, 2023

According to Mohammed AlKaff AlHashmi, the co-founder of “Islamic Coin,” Muslim scholars will increasingly view cryptocurrencies as being “Shariah-compliant” if they function as a store of value or are used as a medium of exchange. Alhashmi added that Islam’s “robust” ethical framework already “accommodates modern technological advancements such as the blockchain and cryptocurrencies.” This, he…
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Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital

June 29, 2023

Islamic coin, a Sharia-compliant crypto asset, has secured $200 million from ABO Digital, which brings to $400 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to $200 million as well as to ensure that the coin “has a…
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Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says

May 22, 2023

The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking to Substitute SWIFT in Trade as Part of De-dollarization Policy The Russian…
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