KARACHI (Lord Media): Chairman of Saylani Welfare, Maulana Muhammad Bashir Farooq Qadri, has stated that cryptocurrency is permissible, saying that a fatwa in this regard was issued 13 months ago.
He made the remarks during an emergency meeting held at the Saylani headquarters following media reports regarding the legal and religious status of cryptocurrency. The meeting was attended by blockchain experts and Chief Mufti Wasim Akhtar Madani, where the issue was reviewed in detail.
Maulana Bashir Farooq said that the fatwa has already been forwarded to the Islamic Ideology Council, the State Bank of Pakistan, and the relevant ministry for consideration.
He added that Saylani supports the government’s policy on emerging financial technologies, noting that several countries around the world are allowing cryptocurrency transactions and exploring blockchain-based systems.
