90,326 exclusive articles and counting...

IFN Investor

Islamic finance’s adoption of blockchain could be beneficial, but faces crucial barriers

Islamic finance operates on principles that prohibit interest, uncertainty and involvement in speculative activities. Transactions must comply with Shariah law and ethical guidelines. Blockchain1 technology has features that would align well with these principles by promoting transparency, reducing fraud and facilitating decentralized2 transactions. Integrating blockchain into Islamic finance has potential to streamline processes while ensuring compliance with Shariah principles. Although digital assets3 issued on blockchain present new opportunities for investment and financial inclusion, the permissibility of some key components, including....

Restricted access

Login to continue reading (existing users)

Register Now for FREE Access

Read the latest Islamic finance related reports from Moody's - a leading provider of Islamic finance credit rating agency content

Register Now