No. not all Islamic Financing based on assets. It depends on mode of Islamic Finance.
No. not all Islamic Financing based on assets. It depends on mode of Islamic Finance.
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Bitcoin or any other digital currency is purely a virtual and imaginary currency, lacking the fundamental attributes and conditions of real currency. Currently, no government has officially accepted responsibility for it. Various religious authorities and scholars worldwide, including Darul Uloom DeRead more
Bitcoin or any other digital currency is purely a virtual and imaginary currency, lacking the fundamental attributes and conditions of real currency. Currently, no government has officially accepted responsibility for it. Various religious authorities and scholars worldwide, including Darul Uloom Deoband, have issued fatwas declaring it as illegitimate.
Bitcoin or any digital currency, in essence, is nothing more than a fictional currency, devoid of the essential characteristics of real currency. The online trading of Bitcoin or digital currency under the guise of buying and selling is merely a deception, as it lacks actual substance, and there are no legal conditions for its transactions. In reality, it is akin to forex trading and takes the form of usury and gambling.
However, in my opinion, if the government were to grant permission, there may be a possibility of engaging in spot trades.
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The main difference between Islamic and conventional financing is that Islamic financing operates without interest (riba) and adheres to Sharia (Islamic law). It's based on asset-backed, risk-sharing, and ethical principles, whereas conventional financing involves interest-based loans and is not bouRead more
The main difference between Islamic and conventional financing is that Islamic financing operates without interest (riba) and adheres to Sharia (Islamic law). It’s based on asset-backed, risk-sharing, and ethical principles, whereas conventional financing involves interest-based loans and is not bound by religious guidelines or ethical restrictions.
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