Islamic finance follows the principles of Shariah law, which prohibits certain activities such as charging or paying interest (riba) and engaging in speculative or uncertain transactions (gharar). Cryptocurrencies, on the other hand, are a digital form of currency that operate on decentralized systems such as blockchain technology.
Islamic Coin (ISLM) is a digital asset that is designed to comply with Islamic law (Shariah). It is a decentralized, peer-to-peer currency that is not subject to government or financial institution control. ISLM is built on the Ethereum blockchain and uses the ERC-20 token standard.
The Islamic Coin Shariah Board consists of some of the world’s most renowned Islamic scholars and financial experts. The board has issued a fatwa (religious decree) declaring that ISLM is Shariah compliant. This means that ISLM is considered to be a legitimate investment and financial instrument under Islamic law.
ISLM is not without its critics. Some argue that ISLM is not truly Shariah compliant because it is not backed by any physical assets. Others argue that ISLM is too risky and volatile an investment.
Despite the criticisms, ISLM has attracted a significant amount of interest from investors around the world. The coin’s market capitalization has grown rapidly in recent months, and it is now one of the most popular Islamic-compliant digital assets.
Here are some of the key features of Islamic Coin:
Shariah compliant: ISLM has been issued a fatwa declaring that it is Shariah compliant.
Decentralized: ISLM is a decentralized currency that is not subject to government or financial institution control.
Peer-to-peer: ISLM transactions are conducted directly between users without the need for a third party.
Built on Ethereum: ISLM is built on the Ethereum blockchain and uses the ERC-20 token standard.
Secure: ISLM is secured by the Ethereum blockchain, which is one of the most secure blockchains in the world.
Scalable: ISLM is scalable and can accommodate a large number of transactions.
Sustainable: ISLM is a sustainable currency that does not require the use of energy-intensive mining.
If you are interested in investing in Islamic Coin, you can do so through a number of exchanges. However, it is important to do your research before investing in any digital asset, including ISLM. More info at https://islamiccoin.net