Bitcoin in Islam Bullish Says Sharia Council

kuala lumpur

Muslims in Malaysia are apparently worried about bitcoin’s compliance with Sharia law, but now the chair of Malaysia’s Sharia Advisory Council has come out to say not only that cryptos are sharia compliant, but also that they offer many opportunities. “This new development can open up so many interesting areas in Malaysia, in which crypto can be deemed as investment assets where people can buy and hold for trading,” said the Shariah Advisory Council chairman of the Securities Commission of Malaysia (SC) Datuk Dr Daud Bakar. Just 2% of Malaysians have any knowledge about cryptos with Bakar saying they need time to understand: “It is a matter of our ability to make it easy for people to understand, because at the moment, it is a new thing and people tend to think it is very much a conundrum and matter of perception,” he said during the SCxSC Fintech Conference 2020…

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