A mosque in East London has reportedly declared that Bitcoin is acceptable in the eyes of Allah, if it is “transacted in a lawful manner.”
Religious advisers at the Masjid Ramadan in Dalston, east London, have made it clear that Muslims can make Ramadan donations using Bitcoin, media reports say.
The mosque issued the Fatwa at the beginning of the holy month of Ramadan, during which Muslims are meant to donate a small share of their wealth to charity. The annual religious charity, known as zakat, is compulsory for all believers of Islam, but the poorest of them are exempted from the law.
“Any money or currency is neither halal – permissible – nor haram – impermissible. Guidance is about the value which it represents. If money is transacted in a lawful manner then it is halal,” the Daily Telegraph quoted Zayd al Khair, a religious adviser at the mosque, as saying.
“Guidance is about the value which it represents. If money is transacted in a lawful manner then it is halal,” according to the clergy.
“We do not always know the source of cash donations, but we take these in good faith too.”
Cryptocurrency is not generally accepted in the Muslim world, and Masjid Ramadan is the first of its kind to give some recognition to the virtual money.
The Mufti of Egypt had suggested that Cryptocurrency is forbidden, because it is a source of illegal activities.
The Turkish-owned Masjid Ramadan, also known as Shacklewell Lane Mosque, has given approval to accept donations in Bitcoin and Ethereum, the British daily said.
They reportedly have received technical advice regarding crypto payments from Shoreditch startup Combo Innovation, a blockchain company which focuses on Islamic finance.
“The cryptocurrency campaign is a success, and we do receive donations. If it works, I’m sure many other mosques and Islamic charities, not just in Britain but worldwide, will start doing the same,” Crypto-News India quoted Mosque chairman Erkin Guney as saying.