Topic: There is lot's of confusion in people about whether it's allowed to invest or no (Read 235 times)
April 11, 2023, 03:28:07 PM
Seems to me that the families can override clerics and even the Quran. You need to find people who will agree with you that investing is okay, and unite them to fight any clerics who don't agree with you. If there are enough fights, the Quran can be changed through adding materials to it... the Hadiths.
April 07, 2023, 06:31:33 PM
As far as I know, Shariah prohibits interest (riba), gambling (maysir), and investing in unethical businesses (haram). Bitcoin is neither of those things. But let me ask you, why should the Bitcoin community care about that?
You are correct, Bitcoin is not any of these taboos, but unfortunately some Muslim clerics forbid working in Bitcoin because they do not know much about Bitcoin.They only hear about the collapse of some exchanges and some coins and they think that Bitcoin is the reason because they do not have enough knowledge, the problem is that they issue fatwas that prevent people from working with Bitcoin based on this little knowledge.
April 07, 2023, 06:13:26 PM
This Islamic law nout investment everyone is talking about, can somehow put it out so the rest of us can actually follow becuase, I'll like to know something on this religion and there part towards some gainful investment.
Investment isn't supposed to be hindered by religion, its way for one to improve themselves and some of the proceeds always goes right back to religion.
Investment isn't supposed to be hindered by religion, its way for one to improve themselves and some of the proceeds always goes right back to religion.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
April 07, 2023, 06:03:27 PM
I think depends on personal understanding and certain rules and regulations set up by the government of a certain Islamic country because from what I read some Islamic countries from the East are planning something huge toward the implementation of crypto, especially Bitcoin while some are not making a positive move towards it.
I also heard something about it, I can't remember what it was called but it sounded like "Islamic coin" or "Muslim coin." Some Islamic scholars believe that buying and selling digital currencies is permissible. While some scholars argue that according to Sharia law, it is not permissible to keep something and wait for its value to rise in the future in order to sell it, this is not permitted in Islam. Just like a farmer who hides his harvested crop until the price is high and then brings it out to sell.
Having said that, I wasn't talking about the coin I was talking about countries like Dubai and some other East countries that will possibly embrace cryptocurrency.
April 07, 2023, 12:34:14 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
This is about your faith and what you wholeheartedly believe in. The growing number of Islamic banks in the world poses no threat to other banks that do not operate on those terms. Sharia-compliant banks and cryptocurrency investments are not the same thing and should not be confused. According to some scholars, there are different rules for investing in bitcoin, but it all depends on your intent and how true the saying is in Islamic jurisdictions.
I think depends on personal understanding and certain rules and regulations set up by the government of a certain Islamic country because from what I read some Islamic countries from the East are planning something huge toward the implementation of crypto, especially Bitcoin while some are not making a positive move towards it.
I also heard something about it, I can't remember what it was called but it sounded like "Islamic coin" or "Muslim coin." Some Islamic scholars believe that buying and selling digital currencies is permissible. While some scholars argue that according to Sharia law, it is not permissible to keep something and wait for its value to rise in the future in order to sell it, this is not permitted in Islam. Just like a farmer who hides his harvested crop until the price is high and then brings it out to sell.
April 02, 2023, 03:15:04 PM
In as much as I am finding it difficult to under what you wrote here.
If am correct from the angle I understood this from you are asking about choice of investment between the banking sector and that of crypto investment which one will be better off.
Everyone definitely have their own choice of investment and if you want to invest in any stock that decision is left for you and your chosen expect alone to make and not something which can be concluded base on public opinion.
But what if he is a newbie on this? A public opinion might still matter as this can help him decide if which will fit better on him. There are differences between the two (banking sector and crypto) that is cryptos are more unstable but they are also more profitable than the banks. We might only need to check the legalization status of crypto in our country if it's allowed to invest on them or not.If am correct from the angle I understood this from you are asking about choice of investment between the banking sector and that of crypto investment which one will be better off.
Everyone definitely have their own choice of investment and if you want to invest in any stock that decision is left for you and your chosen expect alone to make and not something which can be concluded base on public opinion.
If not, well there are still other alternatives like stocks, real estates, gold and so on. It's not always need to be banks. The reason why I seem to avoid them is because I am not really confident about their operations as we know that there are so many negative news about them like they are collapsing and then restricting people about their money.
April 02, 2023, 02:02:52 AM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
Islam forbids gambling, and some scholars consider Bitcoin gambling due to the high risk it entails and its volatile condition. In reality, anything you purchase with the intention of raising its value in the future is not permissible. However, some scholars have argued that using a digital currency to purchase food and other items like other fiat currency is permissible in Islam, so the application of Bitcoin to Islam now depends on the individual uses. So it is individual attention that will decide whether Bitcoin is haram or halal in Islam.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
April 01, 2023, 11:56:03 PM
I think depends on personal understanding and certain rules and regulations set up by the government of a certain Islamic country because from what I read some Islamic countries from the East are planning something huge toward the implementation of crypto, especially Bitcoin while some are not making a positive move towards it.
April 01, 2023, 11:36:53 PM
This has been discussed for many times, even though some people said it's halal but there's always a people will say it's haram. If you talk about religion matter in this forum, people will support Bitcoin and they will say there's no problem as long as you're not use it as a crime. But if you in doubt, you can ask a master in your mosque to know more deeper.
1. Halal or Haram Bitcoin
2. Is Bitcoin Halal or Haram: A Shariah Analysis
3. Bitcoin is permissable in Islam.
1. Halal or Haram Bitcoin
2. Is Bitcoin Halal or Haram: A Shariah Analysis
3. Bitcoin is permissable in Islam.
April 01, 2023, 11:04:39 PM
According to what I understand, money is lending with interest or creating additional value for money without the presence of a cash cover, in addition to high-risk transactions where the possibility of losing money is closer to gambling, and this is the reason for banning bitcoin in many Islamic countries.
However, there is no clear statement prohibiting trading in Bitcoin, but rather jurisprudence from some to explain this, and when regulatory laws for Bitcoin are enacted and the exchange rates are stable, you will notice a change in tone from prohibited to permitted.
Almost some fatwas made it clear that this issue is permissible if it is compatible with the laws of countries.
However, there is no clear statement prohibiting trading in Bitcoin, but rather jurisprudence from some to explain this, and when regulatory laws for Bitcoin are enacted and the exchange rates are stable, you will notice a change in tone from prohibited to permitted.
Almost some fatwas made it clear that this issue is permissible if it is compatible with the laws of countries.
April 01, 2023, 10:43:20 PM
I came to know about this matter from the scholars. Some scholars say bitcoin is haram. Again, many scholars say Bitcoin is halal. If you invest in Bitcoin.Then you are buying assets with money, you can get profit from the asset and there is a possibility of loss.
If you keep money in the bank, you have no chance of loss. But you will be given profit on your money. {Taking usury is forbidden in Islam. (Al Hadith)}. But in our country a bank called Islami Bank has been created. Profit can be consumed by depositing money from the bank or according to Sharia.
You can find out more about this by searching on YouTube or Google.
If you keep money in the bank, you have no chance of loss. But you will be given profit on your money. {Taking usury is forbidden in Islam. (Al Hadith)}. But in our country a bank called Islami Bank has been created. Profit can be consumed by depositing money from the bank or according to Sharia.
You can find out more about this by searching on YouTube or Google.
April 01, 2023, 06:57:48 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
This isn't about religious things, it's purely an investment on a profitable digital currency, this isn't ponzi schemes others take advantage of to scam people, this is purely an investment which anyone can partake from, as long as you're not making money while deceiving others or lure them to loose their asset for you to win, it's a pure way of making money, because if you have money, you will enjoy making impact on every settings in life where you finds yourself.
that is true, one should not be confused if there's religion included in this type of investment. it is just how you make money and not because of some religious beliefs or of that sort.
besides, btc was just created more than a decade ago. and islam has been one of the oldest religions of humanity. so are you saying, they wrote in their sacred book regarding investment in btc? nope! people are just the only ones labeling each type of investment. so long you are not hurting anyone, you can always invest on things or assets that you think can help your financial goals.
April 01, 2023, 06:53:51 PM
It is commendable that Islamic banking is progressing rapidly in some countries and that people are interested in investing according to Shariah principles. However, it is important to ensure that Islamic banking institutions adhere to all of the necessary regulations and standards in order to ensure that the investments are safe and secure for all investors.
April 01, 2023, 06:49:33 PM
In as much as I am finding it difficult to under what you wrote here.
If am correct from the angle I understood this from you are asking about choice of investment between the banking sector and that of crypto investment which one will be better off.
Everyone definitely have their own choice of investment and if you want to invest in any stock that decision is left for you and your chosen expect alone to make and not something which can be concluded base on public opinion.
If am correct from the angle I understood this from you are asking about choice of investment between the banking sector and that of crypto investment which one will be better off.
Everyone definitely have their own choice of investment and if you want to invest in any stock that decision is left for you and your chosen expect alone to make and not something which can be concluded base on public opinion.
April 01, 2023, 06:25:00 PM
Man this is such an old topic. Bitcoin is an asset. Like any other. If you earn interest, then it is not Bitcoin, it is CeFi. Which is always frowned upon. But there is never confusion, just distraction.
April 01, 2023, 06:04:18 PM
investing is not an original sin in accordance with the Shari'a, if you invest with the proceeds of gambling, usury, cheating I don't think it is allowed in religion because it is haram
but if you invest with halal money it doesn't matter,
in investing in btc there are many views on this depending on how you react because Islamic teachings do not recommend and do not hinder there is no hadith which states that investing in btc is haram
note: if I'm wrong sorry about hadith , because I have never heard of it if friends have heard and read this hadith please help me so I can change my opinion
but if you invest with halal money it doesn't matter,
in investing in btc there are many views on this depending on how you react because Islamic teachings do not recommend and do not hinder there is no hadith which states that investing in btc is haram
note: if I'm wrong sorry about hadith , because I have never heard of it if friends have heard and read this hadith please help me so I can change my opinion
April 01, 2023, 05:01:50 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
This isn't about religious things, it's purely an investment on a profitable digital currency, this isn't ponzi schemes others take advantage of to scam people, this is purely an investment which anyone can partake from, as long as you're not making money while deceiving others or lure them to loose their asset for you to win, it's a pure way of making money, because if you have money, you will enjoy making impact on every settings in life where you finds yourself.
April 01, 2023, 04:50:19 PM
It should be noted that Islam is a diverse religion with many different interpretations and practices. What might be permissible for one person may not be for another. Some argue that bitcoin is similar to gambling because its value can be unpredictable and volatile, while others believe that it is not haram because it is a legitimate investment opportunity that can generate profits without imposing interest rates. I think it ultimately comes down to personal interpretation and belief. Some Muslims may feel comfortable investing in bitcoin, while others may feel that it goes against their religious principles.
April 01, 2023, 02:38:34 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
Investment according to Islamic law is not a sin and traders are encouraged to make a fair profit from business engagements. But collecting interest from loans which is called raba is prohibited according to the Holy Books of the religion. The question might be how Islamic banks make a profit. They make their gains through business partnerships or equity participation. This means that there is an agreement that allocates a certain percentage of profit from the business to the bank.
I don't think the Islamic religion is against investing in bitcoin or other cryptocurrencies but using bitcoin for loan services that require interest is not permitted and borrowing money with interest to invest in bitcoin might be against the Holy Book..
April 01, 2023, 01:46:57 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion for this serious situation
Investing in what exactly and how does the whole thing relate to Bitcoin discussion and as a matter of fact, this topic is an off topic and at that, you have to move it from the bitcoin discussion board. -Islamic law has a lot of restrictions on what type of investment to involve in to be accepted before Alah and as a matter of procedure, the Islamic banks in my country do not charge interest on loans given to their members, but I don't know if the proposed Islamic coins are backed by any recognize Islamic institutions or body.
April 01, 2023, 01:37:51 PM
The Islamic community views bitcoin and cryptocurrency at large differently, there are people that see it as haram since it doesn’t have any intrinsic value. Also the high volatility aspect of bitcoin which could lead to speculation is also another factor that makes some Ulama see it as haram.
Some Scholars are of different opinions that since it is something that can be use to purchase goods or services and if it is used for such purposes only then there’s nothing wrong with it. The belief is that if it is not hoard pr hold to increase in price then it is proclaimed Hala
Some Scholars are of different opinions that since it is something that can be use to purchase goods or services and if it is used for such purposes only then there’s nothing wrong with it. The belief is that if it is not hoard pr hold to increase in price then it is proclaimed Hala
April 01, 2023, 01:28:21 PM
I am not particularly educated about the rules of Islam as I am not a Muslim myself but if I do remember (and correct me if I'm wrong) you guys are strictly prohibited from gambling, illegal profiteering, and imposing interest rates upon purchases. With all that being said I do think bitcoin is able to at least avoid all those pointers and is thus allowable in the Muslim culture, but I respect oldies who think it should be haram (am I using the word right?) as then again, I am not a Muslim.
But all in all, it is up to you to decide. I've had a few Muslim friends who invested in assets and in particular, bitcoin, they say it's not prohibited per se, so they are good to go.
But all in all, it is up to you to decide. I've had a few Muslim friends who invested in assets and in particular, bitcoin, they say it's not prohibited per se, so they are good to go.
April 01, 2023, 01:05:43 PM
I know because of shariah, the bank which does interest is one to them according to their belief, though I didn't see bitcoin as an investment process that will give them that but many people have their opinion to either invest because of this or not
April 01, 2023, 12:57:33 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
As far as I know, Shariah prohibits interest (riba), gambling (maysir), and investing in unethical businesses (haram). Bitcoin is neither of those things. But let me ask you, why should the Bitcoin community care about that?
Everyone has the right to their own religious beliefs and practices, and it's important to respect and accommodate those beliefs. But it has nothing to do with Bitcoin. It's up to each individual to decide what investments align with their own beliefs and values.
April 01, 2023, 12:27:57 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
Jump to: