Islamic Cryptocurrency

Mohd Ma’Sum Billah
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Mohd Ma’Sum Billah: King Abdulaziz University

Chapter Chapter 30 in Islamic Financial Products, 2019, pp 413-434 from Springer

Abstract: Abstract Even though a Cryptocurrency management is a digital financial platform operated in the borderless cyberspace, but it shall require to be established as a registered company with a separate legal entity. Among the prerequisite of a Shari’ah (Islamic law) alternative Cryptocurrency model is to be formalized under the company’s rules either in the onshore or offshore as a separate legal entity. It shall be managed based on an acceptable system, operational mechanism, standard planning and strategies, legitimate objectives and manifesto, documentations and manuals, policies and guidelines, which all shall be complying to the Shari’ah, law and policies within the Maqasid al-Shari’ah (divine objectives). In this chapter however, an attempt is made to analyze the operational mechanisms of Cryptocurrency amidst Maqasid al-Shari’ah.

Date: 2019
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DOI: 10.1007/978-3-030-17624-2_30

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