This program is a platform for investing in cryptocurrency that provides the facility to earn profit according to Shariah principles. Its key features are as follows:
Compliance with Islamic financial principles: This program has been created after the approval of Shariah experts (such as Amanie Advisors) to avoid riba (interest), gharar (uncertainty), and prohibited activities in financial transactions.
Wakala agreement: This involves the use of a Wakala agreement, where one party appoints another to carry out specific tasks. This is considered a legitimate and acceptable agreement in Islamic finance.
Assets specifically designated for halal investment: Binance's Shariah Earn service only utilizes those schemes and assets that are halal according to Islamic laws—such as $BNB , $ETH , and $SOL .
Availability in different Muslim countries: This program is available in approximately 30 countries, including Pakistan, Saudi Arabia, UAE, Egypt, and other places.
Binance's effort: The company states that this is an important step towards building a transparent, fair, and value-based digital economy, providing Muslim users with the opportunity to earn profit in crypto in a compliant and Shariah manner.
Inclusion of Islamic finance principles in the crypto sector: Through this program, Binance is facilitating participation in the crypto sector while keeping Islamic finance principles in mind, so that Muslim investors can engage in the world of blockchain and digital cryptocurrency without fear of Shariah violations.
1. "Go to the Shariah Earn section on the Binance app or website, and turn on the ‘Sharia Products’ filter."
2. "Choose BNB, ETH, or SOL—select a fixed lock-up term for BNB or obtain WBETH/BNSOL liquid tokens for ETH/SOL."
3. "Halal rewards start being received upon locking or staking—daily in the Spot Wallet for BNB, and for ETH/SOL based on the increase in token value.