Indonesian Muslim cryptocurrency enthusiasts find a way around Islamic fatwa

    Trading of cryptocurrencies like Bitcoin has been declared forbidden for Muslims by the national council of Islamic scholars in Indonesia, as the popularity of digital currencies grows in the world’s largest Muslim-majority country. How Indonesian Muslim crypto enthusiasts find a way around Islamic fatwa, Erwin Renaldi and Hellena Souisa said on ABC News. Key points:…

    How cryptocurrencies can help develop Islamic finance

    At a webinar held in Bahrain on Wednesday, experts have discussed how new digital payment means are facilitating transactions, and how cryptocurrencies can help to develop Islamic finance, The Gulf Daily News reported. A collaboration of Bahrain-based General Council for Islamic Banks and Financial Institutions (Cibafi) and the Islamic Corporation for the Development of the…

    Islamic organization in Indonesia declared cryptocurrency ‘haram’

    In Indonesia, a provincial branch of one the largest Islamic organizations has declared cryptocurrency “haram,” i.e., forbidden under religious law. The decision came as a result of heated discussions with an invited crypto expert. However, the Indonesian government indicated that the country is not planning to follow in China’s footsteps imposing a wide ban on…