Crypto forbidden for Muslims, Indonesia’s National Religious Council rules

article author:
Arab News
Fall, 2021-11-11 15:00

RIYADH: Using crypto assets as currency is prohibited for Muslims, according to Indonesia’s council of religious leaders.

The National Ulema Council, (MUI) has deemed cryptocurrency as forbidden as it has elements of uncertainty, wagering and harm, Asrorun Niam Sholeh, head of religious decrees, said on Thursday after the council held an expert hearing, Bloomberg reported.

If cryptocurrency as a commodity or digital asset can abide by Shariah’s tenets and can show a clear benefit, then it can be traded, he added.

Main category:
Business & Economy
crypto currencies


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