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Bitcoin and Islamic Finance

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So Islamic finance isn’t just for Muslims. It’s a financial system based on principles and ethics that can be summarised in a few key points:

  • no interest-based lending (this is the most important one)
  • promotes risk and reward sharing
  • no gambling and measured speculation (ie derivatives like options and futures are impermissible)
  • promotes ethical dealing

Fiat money is evidently credit-based and sometimes there aren’t many non-dilutive non-interest bearing solutions for financing which puts a lot of Muslims at a disadvantage. That said, Bitcoin is something that they can get behind. It’s better than any fiat magic money currency created with every loan issued.

So my question is: does anyone here work on the intersection of Bitcoin and Islamic Finance? Or any of you interested by what the two could look like in tandem?

submitted by /u/SecretMuslimBanker
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