Articles

Price: A Divine Manifestation

The Role of the Market The sale of goods and services is central to the market. That particular exchange is what markets are all about. The market plays a vital role as a distinctive place for transactions. The market facilitates the exchange of people’s needs, whether they are producers, suppliers, or consumers. The fulfilment of […]
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Integrating Blockchain in Islamic Finance

Blockchain is called blockchain because data is stored in blocks and the data is connected in a chain. A very simple explanation is that blockchain is a digital record that is split into pieces, called “blocks,” which are stored in multiple places. Essentially, blockchain enables record-keeping that is secure, accurate, and fast. Blockchain is a […]
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Designing a Shariah-compliant Metaverse

Defining the Metaverse Metaverse is a combination of the prefix “meta”, meaning beyond, and “universe”. A simple way to appreciate ‘the Metaverse’ is simply to think cyberspace or virtual worlds. It is being argued as the next big disruptive wave in current technology and internet experience. And as such, it is a leap in the […]
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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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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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