Islamic Rulings on Cryptocurrency
Verified fatwas and official positions from credible Islamic authorities worldwide
Raqib compiles these rulings for educational reference only. This is not a fatwa.
Pakistan โ CAUTION ADVISED
Darul Uloom Karachi + Mufti Taqi Usmani
Cryptocurrency does not qualify as maal (wealth/property) under Islamic Jurisprudence. Buying and selling all crypto tokens including stablecoins is impermissible.
propakistani.pk โ Verified July 2026Malaysia โ REGULATED & PERMISSIBLE
Securities Commission Malaysia
Digital assets regulated under Capital Markets and Services Act 2007. SC Malaysia has registered licensed Digital Asset Exchanges. Trading permissible under regulatory framework.
sc.com.my โ OfficialIndonesia โ CONDITIONAL PERMISSIBLE
MUI โ Majelis Ulama Indonesia
Cryptocurrency permissible as commodity asset (not as currency) when meeting Sharia conditions. Muhammadiyah issued separate ruling declaring it haram. Scholarly debate continues.
mui.or.id โ OfficialUAE / Dubai โ FULLY REGULATED
VARA + AAOIFI Standards
UAE established VARA framework for comprehensive digital asset regulation. AAOIFI standards applied. UAE positions itself as global Islamic finance and crypto hub.
vara.ae โ OfficialSaudi Arabia โ DIVIDED OPINIONS
Various Scholars โ No Official Blanket Ruling
Impermissible due to excessive Gharar, lack of backing by trusted institutions, and potential for harm.
Comparable to acceptable medium of exchange. Permissible when used ethically without speculation.
Turkey โ CAUTION ADVISED
Diyanet ฤฐลleri Baลkanlฤฑฤฤฑ
Turkey's Diyanet has expressed concern about cryptocurrency speculation, citing potential for gambling-like behavior and economic harm. Recommends caution and consultation with qualified scholars.
Global Authorities
๐ International Standard
AAOIFI + Global Scholars
AAOIFI provides the most widely accepted global Islamic finance standards. Crypto permissible when meeting specific asset-backing and screening criteria. Adopted by over 45 countries.
aaoifi.com โ International StandardCryptocurrency can be considered a valuable digital asset with inherent worth, making it permissible when used responsibly without speculation. Widely cited in Western Islamic finance.
Important Notice
The rulings compiled on this page represent scholarly and regulatory opinions as of 2026. Islamic jurisprudence is dynamic and opinions may evolve. Raqib does not issue fatwas or provide religious advice. Always consult a qualified Islamic scholar for personal guidance.
Sources Referenced