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#Malaysia 🇲🇾 Malaysia Becomes the First Country to Receive Zakat with Crypto

The Zakat Collection Center - Federal Territory Islamic Religious Council (PPZ-MAIWP) has announced the option to pay zakat with crypto. This makes Malaysia the first country in the world to undertake such an initiative.

PPZ-MAIWP CEO Datuk Abdul Hakim Amir Osman stated that this aims to guide Muslims on their responsibility to fulfill zakat. It is hoped that the advancement of blockchain technology and digital assets will facilitate Muslims in carrying out their obligations.

"The transformation in fulfilling zakat through digital media shows that Islam is always evolving and adapting to the needs of its followers," said Abdul Hakim.

This initiative has proven successful, as the charity has collected around 45,000 ringgit in digital zakat in 2024, an increase of 73% from the previous year.

Abdul Hakim also sees great potential in paying Zakat with digital assets following the rise in value of cryptocurrencies like Bitcoin, Ripple, and Ethereum.

-# Image Source: The Halal Times