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Shariah Decryption of Real, Financial and Digital Assets

With the advancement in technology and finance over the centuries, the world has seen the growth of different forms of assets. Real assets were something the world was very much accustomed to and dealing with daily. The financialisation of the economy introduced financial assets. Assets were further divided into tangible and intangible assets. Digital and […]
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Shariah Principles of Royalties in NFTs

Introduction to Royalties Royalties are payments to owners of property for use of that property. Royalties often deal with payments for the right to use intellectual property (IP), such as copyrights, patents, and trademarks. Royalties appear in many different industries, but they serve a similar purpose in all uses. These royalties are granted by agreement, and […]
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Simplified Shariah Structures Guide: Mudaraba

In this simple guide, we will look at the following: What is Mudaraba? Key requirements of Mudaraba Applications of Mudaraba 1. What is Mudaraba? Mudaraba is a profit-sharing arrangement between two or more parties. Mudaraba has similarities to a private equity arrangement where a Limited Partner and General Partner form a business partnership. In a […]
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The Anatomy of NFTs from a Shariah Perspective

Introduction to NFTs NFT is short for Non-Fungible Tokens. An NFT is a secure, blockchain-based certificate that represents an entitlement its owner has to a (usually) digital or physical asset (e.g. artwork) or licence and permit for something[1]. NFTs are indivisible and can store significant amounts of data, including unique information, which is what makes […]
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Is the BITO ETF Shariah Compliant?

Question: Is the BITO ETF Shariah Compliant? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer: The ProShares Bitcoin Strategy ETF (BITO) is not Shariah compliant. The Fiqh (jurisprudence of the answer): The ProShares Bitcoin Strategy ETF is the first U.S. bitcoin-linked ETF designed to provide investment […]
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Purchasing Foreign Currency Online with Deferred Delivery

Question: Is it permissible to purchase foreign currency online and receive it at a later date? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.  The Answer:  According to contemporary Hanafi scholars, it is permissible to purchase foreign currency and receive it at a later date as long as […]
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Is Gold the Currency of Islam?

The Dinar is typically referred to as the ‘currency of Islam’. The idea stems from the fact that the initial currency minted by an Islamic government was that of the gold Dinar and silver Dirham. It was the Caliph Abdul Malik ibn Marwan who ordered the minting of these currencies in the year 76 AH. […]
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What can Islamic Finance learn from Hajj?

Everything in Islam is related; the different pillars all have connections. There are patterns within Islam that appear the more you observe and the more you ponder. Allah’s guidance is immaculately congruent and meticulously complete. Focused and unbiased reflections on nature and the Qur’an can only lead one to profess the artistry and beauty of […]
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