Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities
A shariah compliance expert, the current chairman of the Shariah Advisory Council at Malaysia’s central bank and a shariah board member at many financial companies, says that cryptocurrency is a legit commodity that can be exchanged. Cryptocurrency and Shariah Compliance Cryptocurrency adoption and investments remain low in Muslim countries as people are still unsure of its compliance with Islamic law. At the SCxSC Fintech Conference 2020 last week, Datuk Dr. Mohd Daud Bakar, an expert in shariah compliance, said that investors need more time to understand cryptocurrency from the....
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A Shariah Advisory Council chairman in Malaysia has praised the “great potential” of cryptocurrency Just three months after a landmark decision declaring digital assets trading is permissible under Islamic law, and religious scholars in Malaysia say crypto is looking bullish as an investment.The Malaysian Reserve reported Dr. Modh Daud Bakar, the Securities Commission Malaysia (SC) Shariah Advisory Council chairman, as saying that crypto has great potential but adoption in the country faced challenges from a lack of understanding about the asset class. Speaking at the SCxSC Fintech....
Top financier and banker Hussein Al Meeza has joined Islamic Coin – the Shariah-compliant cryptocurrency launched in the UAE. Having been named Best Islamic Banking Personality in 2006, Mr. Al Meeza is an acclaimed award-winning expert with over 40 years of experience spanning the Islamic banking, finance and insurance sectors, and has been one of the key personalities involved in establishing Dubai Islamic Bank. Among his many accolades and executive roles are some of the Region’s top institutions. Mr. Al Meeza is the founder of Al Salam Banks in Sudan, Bahrain and Algeria, as well....
Launching soon, CoinMENA said it will offer spot trading in five major cryptocurrencies.
U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance Enhancement Act U.S. Senator Elizabeth Warren introduced a bill titled “Digital Asset Sanctions Compliance Enhancement Act of 2022” during a Senate Banking Committee hearing....
Former New York State Department of Financial Services (NYDFS) Regulator Dana Syracuse and Federal Bureau of Investigation (FBI) Crypto-Currency Expert Vincent D'Agostino will be joining the regulatory compliance team of K2 Intelligence, a leading compliance and cyber defense company. These two senior executives have served at the forefront of banking law, virtual currency and cybersecurity regulation, and criminal cryptocurrency investigations. Syracuse served as the former Associate General Counsel of NYDFS and was appointed as the Managing Director and a member of K2 Intelligence's....