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 shariah perspective.
Bakar is currently the chairman of the Shariah Advisory Council at the central bank of Malaysia, Securities Commission of Malaysia (SC), and the Labuan Financial Services Authorities. He is also a shariah board member at a number of financial institutions, including the Accounting and Auditing Organisation for Islamic Financial Institutions, Morgan Stanley (Dubai), Bank of London and Middle East (London), Noor Islamic Bank (Dubai), Jadwa-Russell Islamic Fund (Saudi Arabia), and Salama Islamic Insurance.
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https://news.bitcoin.com/shariah-compliance-cryptocurrencies-legit-commodities/
