Binance Exchange #Binance Launches First Cryptocurrency Platform Compliant with Islamic Finance
The crypto exchange Binance has launched platform #ShariaEarn , which is the world's first service for trading multi-token cryptocurrencies that is fully compliant with the principles of Islamic finance.
The new service will be available in Kyrgyzstan, Uzbekistan, Azerbaijan, Tajikistan, Turkmenistan, and other Islamic countries, with plans to launch it in Arab countries in the near future.
Sharia Earn has obtained an official Sharia certificate from an international consulting firm and offers the Islamic community a transparent and permissible way to receive passive income from cryptocurrency assets.
The product allows investment in tokens such as $BNB and $ETH and $SOL in a way that complies with Islamic law - without interest that is suspected to be (Riba) and excessive uncertainty (Gharar) and with fair principles for risk sharing.
Binance reported that the Islamic finance market exceeds 4 trillion dollars; however, a large segment of Muslims is deprived of decentralized finance due to the lack of halal financial instruments. The Sharia Earn platform aims to bridge this gap.
Richard Teng, the CEO of Binance, stated that the company is committed to developing inclusive financial products that respect cultural and spiritual values.
He added: "This is not just a product, but a step towards a more equitable digital economy and a commitment to principles."
Source: Binance Statement
