KARACHI: Following recent media reports and renewed public debate regarding the Shariah status of crypto currency, an emergency meeting was convened at the Saylani Welfare International Trust’s head office.
The meeting was chaired by Saylani’s Founder and Chairman, Maulana Muhammad Bashir Farooq Qadri.
The meeting was attended by leading block chain experts and Saylani’s Head Mufti, Mufti Wasim Akhtar Al-Madani. Participants reviewed the ongoing debate over whether crypto currency is permissible or impermissible under Islamic law and maintained that declaring crypto currency categorically impermissible would not be appropriate without a comprehensive juristic and technical assessment.
Saylani’s Dar-ul-Ifta, under the supervision of Mufti Wasim Akhtar Al-Madani, conducted extensive research into the subject in the light of the Holy Quran, Hadith and the jurisprudential teachings of Imam Ahmad Raza Khan, commonly known as Ala Hazrat Fazil-e-Barelvi.
On the basis of this research, a detailed 37-page fatwa was issued approximately 13 months ago, declaring transactions involving crypto currency permissible under specified conditions.
Addressing the meeting, Maulana Muhammad Bashir Farooq Qadri said that leading block chain specialists and Mufti Wasim Akhtar Al-Madani were present to reassess the matter from both technical and religious perspectives.
The meeting was chaired by Saylani’s Founder and Chairman, Maulana Muhammad Bashir Farooq Qadri.
The meeting was attended by leading block chain experts and Saylani’s Head Mufti, Mufti Wasim Akhtar Al-Madani. Participants reviewed the ongoing debate over whether crypto currency is permissible or impermissible under Islamic law and maintained that declaring crypto currency categorically impermissible would not be appropriate without a comprehensive juristic and technical assessment.
Saylani’s Dar-ul-Ifta, under the supervision of Mufti Wasim Akhtar Al-Madani, conducted extensive research into the subject in the light of the Holy Quran, Hadith and the jurisprudential teachings of Imam Ahmad Raza Khan, commonly known as Ala Hazrat Fazil-e-Barelvi.
On the basis of this research, a detailed 37-page fatwa was issued approximately 13 months ago, declaring transactions involving crypto currency permissible under specified conditions.
Addressing the meeting, Maulana Muhammad Bashir Farooq Qadri said that leading block chain specialists and Mufti Wasim Akhtar Al-Madani were present to reassess the matter from both technical and religious perspectives.