#Write2Earn
Binance has launched "Sharia Earn", a crypto investment product aligned with Islamic finance principles. This service, certified by Amanie Advisors, is a multi-token staking platform designed to be Sharia-compliant. It aims to provide halal investment options for users, particularly those in Muslim-majority countries, by ensuring no interest (riba), gambling, or involvement in prohibited industries.
Key aspects of Binance Sharia Earn:
Sharia Compliance:
The platform is certified by Amanie Advisors, a recognized Sharia advisory firm, ensuring adherence to Islamic finance principles.
Halal Investment:
Sharia Earn supports staking of cryptocurrencies like BNB, ETH, and SOL, distributing rewards in a manner that is considered permissible under Islamic law.
No Riba, Gharar, or Haram:
The platform avoids riba (interest), gharar (excessive uncertainty), and involvement in industries deemed prohibited under Sharia law.
Passive Income:
Users can earn passive income through staking, with rewards distributed daily or as an increase in value, depending on the token and staking method.
Inclusivity:
The product aims to make crypto investment accessible to Muslim investors who seek faith-based financial products.
Existing Binance Infrastructure:
Sharia Earn utilizes Binance Earn's existing infrastructure for staking and reward distribution.
Wakala-based Approach:
The platform uses a Wakala agreement, where Binance acts as an agent managing
assets without guaranteeing fixed returns.
Amanie Advisors is a leading Shariah advisory firm specializing in Islamic finance solutions covering a wide range of services including Shariah advisory and consultancy, training and research & development for institutional and corporate clientele focusing on Islamic financial services.