HaramCoinsIslamic Coin falls under “Shariah-focused coin”. The assessment below weighs its real use against the core prohibitions of riba, gharar and maysir.
01What it is
The native coin of the HAQQ network, built explicitly around Islamic-finance principles with its own Shariah board.
02Why this assessment
It is designed for compliance, no interest by design and a portion of issuance directed to charity, and is overseen by a dedicated Shariah board, which is why many consider it permissible. As always, verify the project still operates as described.
03The Islamic-finance lens
Islamic Coin has genuine utility. Many scholars treat a real, lawful function as a point in favor of permissibility, because value then derives from usefulness rather than pure speculation.
Using Islamic Coin as a medium of exchange for lawful goods and services is generally the least controversial use, provided the underlying transaction itself is halal.
04Key considerations
05How to approach it
Practical takeaway: many scholars consider Islamic Coin generally permissible to own and use for its intended purpose. Even so, avoid leverage, interest-bearing products, and buying purely to gamble on price. Keep your intention on lawful use or genuine long-term ownership.
06Frequently asked questions
Is Islamic Coin halal or haram?
Generally considered permissible. It is designed for compliance, no interest by design and a portion of issuance directed to charity, and is overseen by a dedicated Shariah board, which is why many consider it permissible. As always, verify the project still operates as described.
Does trading Islamic Coin involve riba?
Simply owning or swapping Islamic Coin does not involve riba, but interest-bearing products or leveraged trading do.
Is buying Islamic Coin considered gambling (maysir)?
Buying Islamic Coin purely to bet on short-term price swings resembles maysir (gambling). Holding it for genuine, long-term ownership of a useful asset is viewed far more favorably.
07Related assessments
This website is an educational resource, not a religious edict (fatwa). Qualified scholars differ on cryptocurrencies; the assessments here are based on widely-recognised principles of Islamic finance and are provided for learning only. Always consult a qualified scholar before making any decision, and remember that nothing here is financial advice.