Cryptocurrency is taking more and more space in our lives. The financial market is rapidly developing in the decentralized finance sector. Against this background, in many Islamic countries, digital money was recognized as haram, since their value depends on unpredictable factors. For example, in bitcoin, financial transactions take place in a closed format and encrypted. Islam calls to stay away from dubious money.
Islamic banks perform the same functions as traditional banks. They also act as financial intermediaries and offer various banking products to their customers. However, the difference is that the Islamic bank does not charge interest. This is due to the huge influence of the Koran, which does not allow to benefit from usury.
The Islamic banking system operates in accordance with the moral and ethical standards of the Shariah. Someone may say that such an approach is contrary to the concept of the banking system and it will not be able to develop. But special interest in this topic arose after Islamic banks were not affected by the US mortgage crisis, which stirred up world markets. Therefore, the banking system, built on the principles of Islam, is gradually conquering the world with its reliability and weak response to crises.
Now there is a very important event that will affect many aspects of the life of the Muslim community — this is the emergence of an Islamic digital coin that complies with Muslim religious norms. Islamic Coin received a Fatwa from eminent Muslim legal scholars.
Islamic Coin provides real financial assistance to the Muslim community by sending 10% of the mintage of each coin to the Evergreen DAO charitable foundation. This fund invests in projects serving Muslim communities around the world.
In addition, Islamic Coin mining is carried out using new methods that can significantly reduce electricity consumption. And this applies not only to Muslims, but to all people of the planet.
All these factors allow Islamic Coin to quickly become a powerful force in the crypto space and gain more and more followers.
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