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Islamic Finance

Answered as per Hanafi Fiqh by ShariahBoard.org

Selam, we have launched a cryptocurrency ( Caizcoin) from Germany which has been tried to be compliant with Islamic financial standards. The coins have been backed by gold and physical assets and the coins have been made usable, transferable, convertible into cash to complete islamic money requirements. Interest, illegal utilization of funds, liquor, and other harams are kept miles away from Caizcoin. Speculative valuation is also finished through concrete backing of assets. 

Kindly issue religious Fatwa about our this project of Caizcoin.

Regards with advance thanks,


بسم اللہ الرحمن الرحیم

Ask the question again after providing further details of this project.

This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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