Exploring the Use of Crypto currency in Light of Shari’ah Compliance

الملخص

The rapid emergence and adoption of crypto currency as a digital financial instrument has sparked significant debate among scholars, particularly within the context of Islamic finance. This paper provides an overview of the usage of crypto currency through the lens of Shari‘ah principles, examining its permissibility and alignment with core Islamic legal and ethical frameworks. This paper aims to analyze the currency in the Shari’ah because the protection of wealth is one of the objectives of Shari’ah, most important aspect related to crypto currency as well the divergent opinions surrounding the legitimacy and otherwise of transacting with crypto currency through the existing literatures and the fatawa of the Islamic scholars. It explored and as well shade light on the nature, advent, categories and peculiarities of the crypto currency. The findings of the study would benefit the Muslim investors and users of the crypto currency as well the Islamic banking and finance sector to either accept or reject it. The paper recommends that there is need for the Islamic institutions and scholars to come up with unanimous position on the crypto currency transactions basing their position on an in-depth analysis of Sharia injunctions over the subject matter.