top of page
  • Writer's pictureICP Web

Are Bitcoin and Ethereum trading halal and allowed in Islam?

Question:

Are Bitcoin and Ethereum trading halal and allowed in Islam? Answer: ﺑﺴﻢ اﷲ اﻟﺮﺣﻤﻦ اﻟﺮﺣﯿﻢ In the name of Allah, the Most Gracious, the Most Merciful

The Darul Ifta of Darul Uloom Deoband issued a comprehensive fatwa regarding the Islamic legal ruling of digital currencies. The crux of the fatwa is as follows: “In summary, Bitcoin, or any other digital currency, is merely a presumed currency, and it is not an actual currency. Additionally, the foundational qualities of a real currency cannot be found in any digital currency. Furthermore, there exist elements of gambling and interest in digital currency trading. Thus, it is impermissible to trade via Bitcoin or any other digital currency. In the like manner, to trade using Bitcoin or any other digital currency, just as Forex Trading, it is prohibited, thus one should abstain from this trade.” (Bitcoin ki Haqiqat aur uska Shari Hukm with reference to the fatwa of Darul Uloom Deoband: p. 38 [Ethical Business Consultants]). Only Allah knows best Written by Maulana Mohammad Ahsan Osmani

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

10 views0 comments

Recent Posts

See All

Question: Assalamu Alykum Sheikh, Is it lawful to work at the check-out counters in a supermarket that sells both lawful and unlawful products? Answer: In the Name of Allah, the Most Merciful and Comp

Question: Is Forsage Halal? Answer: In the name of Allah, the most Gracious, the most Merciful, Assalamu Aleikum wa Rahmatullahi wa barakatuhu Dealing in any Cryptocurrency business is not halal in Is

Question During Team gatherings, we will all go out to a nice restaurant and end of the day have to Split lunch/dinner bill with the work colleagues. Now usually, they will order Beef or Pork items fr

bottom of page