01 Jul “Islam does not accept battle”: Mufti forbade trading
As he said, trade in cryptoworks is similar to gambling, which is forbidden in Islam.
Fatva was issued after consultations with several economic experts, Egyptian big mufti Shawki Alam said on Monday.
The Egyptian authorities believe that trade in currency currencies is not acceptable, he said, and said that the authorities should watch and preserve the national currency.
Mufti compared the exchange with crippled gambling that is forbidden in Islam “due to a direct divorce in a financial union for individuals.” He states that the battle can negatively affect the legal safety of those who trade it and lead to easier money laundering and smuggling of goods.
Egyptian Mufti is not the first Muslim religious leader to criticize the famous crypt.
In December, Saudi Arabia’s Asim Al-Hakem said digital currencies were banned from Islam because they were “ambiguous”.
“We know that the battle gives you the opportunity to be anonymous when you trade it … which means it’s an open money laundering hatch,” Hakem said.
Also, Turkish religious authorities have said that buying and selling digital currencies is in conflict with their faith due to lack of regulation and close links with criminal activities.