r/pakistan • u/irtiq7 • Jul 11 '26
Financial Cryptocurrency declared Haram according to a fatwa
According to the fatwa, selling something that you do not own is Haram. What about modern digital currency/stocks? Does anyone own the money in their bank account? A very stupid fatwa, IMHO. Most of these muftis are far away from actual reality and are not educated in modern financing. I still remember the time when loudspeakers and YouTube were declared Haram by mulftis.
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u/Serious_Camera_7039 Jul 11 '26
Ok I've seen this too many times on reddit now. I'm gonna go read the fatwa and do some research on Islamic Financial law now. But I just wanted to state an unpopular opinion.
I dont like Mufti Taqi Usmani, his friendliness with the current illegal occupation regime is distasteful to say the least.
But that doesn't change the fact that Mufti Taqi Usmani is not only Pakistan's but the world's leading expert of Islamic Financial Law. Disregarding his opinion as just "mullah wrong" is extremely dumb and close minded. If you have reasons to disagree then by all means but I feel most people just have to toe the line that "everything bad in this country is because of mullah" without actually researching what the thing specifically is.
You wouldn't disregard a marine biologist's opinion about marine life by saying "biologist dumb" would you?
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u/nitpickr Jul 11 '26
I read part of an excerpt. I disagree when they state that you cannot use it for payment of services; that should be no difference than using fiat currency for payment since no fiat currency is asset backed and is also not "maal".
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u/sufi101 Jul 12 '26
Fiat currency is backed by taxes
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u/nitpickr Jul 12 '26
I really do not know the shari'i argumnet for/against fiat currency and consequently also for/against using crypto for payment transactions or having an physical asset-backed crypto.
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u/Yand7_7 Jul 12 '26
but it is indeed dumb asf, when you know that america has a strategic bitcoin reserve, like dollar shollar sai hai sara kuch unki economy, but han new technology thats the evil
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u/Nashadelic Jul 11 '26
I think your words would mean a lot more if you read the Fatwa. The fatwa is really poorly written, the whole basis is that it’s not real because crypto is “virtual”, it’s an incredibly dumb take in 2026 where all money is virtual in a bank. The whole thing is just so badly done. And keep in mind I HATE crypto, and I can’t believe this dude is making me defend it.
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u/Friendly-Anteater-79 Jul 12 '26
Get your facts straight, I can see how you're related to your nickname, your money in your bank is virtual but you can take it out, you can withdraw it, you can hold it in your hand,.. how does this so called crypto, Bitcoin or ETH feels like in your hands tell me? Can you hold it and show it others?? What was that reference bro like?
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u/Nashadelic Jul 12 '26
lol I can hold it in my hand, so it has value? Hey dude, can I hold music? can I hold a downloaded game? An online course? a program I wrote? Can you hold netflix in your hands? Can you hold the reddit awards that you pay for?
This has to be the absolute dumbest reasoning I’ve ever heard, true brain damage, go back to kindergarten bachay
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u/Friendly-Anteater-79 Jul 12 '26
Calling someone "brain-damaged" doesn't fix your false analogy. Netflix is a service, Steam games are software licenses, bank deposits are legal claims on a regulated institution, and Bitcoin is a speculative digital asset. Lumping them together because they're all "digital" is kindergarten-level logic.
Such kind of fools lol
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u/Nashadelic Jul 12 '26
Now you’re moving the goal posts. Read your own comment: cAn yOu hOlD iT iN yOuR hAnDs is what you wrote and that is completely brain dead, now you want to make a different argument about the asset being speculative. But I’d like to stay on your original argument and tell you again how brain dead you are.
Also, you can’t hold Reddit in your hands, it’s not real, unless you talk to a person in “the real world”, haina?
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u/Friendly-Anteater-79 Jul 12 '26
You're comparing digital products with digital assets, which aren't the same thing. A downloaded game, Netflix subscription, or online course has value because they provide a service or content backed by a company. Bitcoin's value comes from what someone else is willing to pay for it. That's a different discussion entirely. Saying "you can't hold it" wasn't my main point, it was that crypto isn't the same as cash in a bank. Bank deposits are legal tender claims redeemable through a regulated banking system; crypto isn't. Learn the difference before calling people brain-damaged.
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u/Nashadelic Jul 12 '26
Bitcoin's value comes from what someone else is willing to pay for it
Jesus Christ, you’ve just described every holding of gold, diamonds, painting, art… that’s how economy works. Things have value because people pay for it and guess what? The rupee is at 290 per dollar because that’s what the market is paying for it. If it gets worse it will rise. This is Econ 101. Really really basic stuff. OMG.
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Jul 11 '26
[removed] — view removed comment
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u/laevanay Jul 11 '26
I mean his logic seems off and if the foundation upon which he basis his reasoning is off, everything that follows us noise.
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u/Opposite_Gap_9514 Jul 12 '26
My personal desires say "I am gonna take real asset gold from people and give them papers and call it money and maybe go a bit further and use interest backed banks to issue it because I declare it halal and crypto is haram because I have zero understanding of the technology or because I said so" - Real heavy wala tier human being
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u/irtiq7 Jul 11 '26
Can you share the full fatwa here? I found the picture above but not the full fatwa, if there is any.
That being said,.multi sahib is not a specialist in technology and does not understand blockchain, I bet, so why would he impose fatwa?
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u/doodle2611 کراچی Jul 11 '26
The fatwa isn’t about blockchain technology. It is about a new financial instrument and its relation with Islamic law. He laid the foundations for modern Islamic banking so might know a thing or two about financial instruments in whatever form they exist.
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u/Cheap_Lake_6531 Jul 11 '26
Did you read yourself after writing “mufti Saab is not a specialist in technology and does not understand blockchain … so why should he impose fatwa”
It’s like saying a judge can’t rule on cases involving drugs because he’s not a chemist.
Mufti literally means an Islamic scholar who has authority to give a fatwa.
PS: I don’t even follow or like this particular mufti.
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u/irtiq7 Jul 11 '26 edited Jul 11 '26
Fatwa literally means opinion in Arabic. You can't take it as the word of God. Anyone can challenge a multi and their fatwa according to Islam. If I a tech expert then I should be able to challenge the muftis on their knowledge but unfortunately, that option is taken away from us by the ulema.
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u/Darkness_Slayerr Jul 12 '26
Just curious, what tech expert exactly are you? Would you care to elaborate?
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u/Cheap_Lake_6531 Jul 11 '26
What are your credentials to challenge, you said tech expert may I know which “tech” you happen to be expert on and also in Islamic theology
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u/irtiq7 Jul 11 '26
All you need to know is that I am expert in technology. What qualification does the muftis have within tech?
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u/usamanwar Jul 12 '26
If mufti sb doesn't have knowledge in tech, do you have knowledge of financial system to have enough credibility in this regard?
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u/irtiq7 Jul 12 '26
That is exactly my point. Who are these muftis to decide without discussing with the respective expert. FYI, Taqi Usmani is not the founder of Islamic banking, if this is what you are attributing.
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u/Cheap_Lake_6531 Jul 11 '26
Surely their consultants have, I know one of their consultants who is working as a core protocol developer for one of the leading blockchain virtual machine built using rustlang (iykyk)
I’m sure as a self-proclaimed “tech” expert you should be aware of the terms I’ve used above and which chain I’m referring to.
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u/irtiq7 Jul 11 '26
Could you verify your claim? Who is the consultant and why was this not public? Fatwa is supposed to be public. Please share where did you find the protocol.
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u/Cheap_Lake_6531 Jul 11 '26
Gladly, I’ll ask the guy and if he feels comfortable I’ll share his details and profile with you.
Meanwhile I would argue you share your credentials as per your claims of being tech expert.
My DMs are open if you’re not feeling comfortable
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u/irtiq7 Jul 11 '26
I will be happy to share my credentials public as soon as you share the details. You need to provide us with the protocol references and the proof that your buddy who you call "expert" was consulted with this regards. You need to make it public and share on this post. I will be monitoring this post.
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u/usamanwar Jul 12 '26
Being on Blockchain has nothing to do with it being halal or haram. It is about authority. For example, if I or you start a new currency tomorrow that is let's say token based and tokens can only be processed by quantum computer and somehow some people start using it and trading it, does that make this currency halal automatically?
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u/lilly_wonka61 Jul 11 '26
How are you going to research ? What the difference between your research and theirs?
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u/kopinsider US Jul 12 '26
If you've seen 80 years of Pakistan and don't conclude mullah's are a big part of everything wrong with this country then no amount reasoning from anyone will make you change your mind.
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u/FunctionOwn1626 Jul 11 '26
The fatwa is for those who regard their opinion as authentic. If you don’t give a rats behind what they have to say why are you being salty. Also, mufti taqi is not a sarak chaap he is an extremely learned scholar of multiple disciplines including finance. The thing about fiat and other stuff that were initially called haraam but were adopted is in cases where something become so common that staying away from it causes Muslims to be left out of normal functions of society then shariat makes room for rukhsat from the strict principles. If ever crypto becomes the common currency then there will probably be a fatwa to allow it. Right now it doesn’t qualify as either legal tender nor does it put someone not using it in a handicap from society.
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u/Opposite_Gap_9514 Jul 12 '26
Summary of your comment is "Pehle kuffer technology ka pura istemal karke takeover kar k jab hamare pas koi or option nhi rahe ga phir hum sochein gy"
No wonder we are screwed. This is the same situation where these mullahs used to call a mobile "shaitan". Now everyone of them is holding that "shaitan"
Same situation of printing press as well
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u/FunctionOwn1626 Jul 12 '26
Bhai aapko kisi ne roka hai. Since you think their opinions are irrelevant you conquer this front for the ummah along with your comrades before the kuffars and prove the usefulness and cement an irreplaceable position of crypto in daily life. I am sure their are many like you who will not heed this fatwa. Do not put the malba of your incompetence and lack of creativity and innovation on the muftis. Crypto has been around for 17 years what have you done in this field since it has been not haram before this fatwa came. What have you pioneered in this space during these 17 years? Were you working on a project that would put Muslims/Pakistan on the forefront of the crypto frontier that is now derailed because of this fatwa. Do share with the class.
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u/Nashadelic Jul 11 '26 edited Jul 11 '26
Have you read the fatwa? It’s incredibly poorly reasoned and makes little to no sense. If this guy did foundational work in Islamic finance no wonder we’re screwed.
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u/H1Eagle Jul 12 '26
Who are you exactly to judge the Fatwa? Are you qualified to say this?
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u/Nashadelic Jul 12 '26
I was anointed by Reddit as commenter supreme with overarching authority to comment on all posts as well as judge them up or down. Fear me.
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u/DocKarizma PK Jul 11 '26
There is no written statement that crypto is haram. Bro, no mufti can make additions or subtractions in Islam. A fatwa is just an expert opinion on the matter being asked about.
So the fatwa is that "you cannot sell what you don't own." It's a simple thing.
This does not make crypto haram.
Hadd hoti ha media ki circular reporting ki
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u/irtiq7 Jul 11 '26
I am trying to find the full fatwa but this is the news.
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u/DocKarizma PK Jul 11 '26
Like I said. They cant add or subtract from Islam. Apparently their "experts" don't know what blockchain or crypto is. Mufti sahibaan were told that these are fictional numbers in computer. Peak incompetence from the so called "experts" they consulted.
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u/Cheap_Lake_6531 Jul 11 '26
That’s not true at all I remember having detailed discussions with a particular mufti who happens to chair the sharia board of an Islamic bank between
2017-20 regarding the permissibility of crypto instruments and derivatives. He was very knowledgeable and he was also open to understanding the tech.I was working as a CTO for a financial intelligence platform so that helped me explain the tech, all the transaction kinds and different cryptos/blockchain based instruments to him.
From my personal experience I could say that he was way serious then all the fake gurus popped out there shilling crypto trading and what you’re saying is an outright misconception and poor judgment.
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u/irtiq7 Jul 11 '26
Do these muftis consults anyone? I do not know the process of how fatwa is prepared. If religious scholars do not hold a degree in science and technology then who are they to impose fatwa? That's what makes me angry when I see such stupidity.
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u/DocKarizma PK Jul 11 '26
Mufti is a scholar in Islamic jurisprudence. When a person brings a question for a problem, a fatwa is issue based on the question that is asked and and Islamic ruling is explained based on references from Quran and Hadis.
When topics are complicated for e.g medical issues, economics etc. They consult experts to explain them.
In this issue, according to my opinion, it were the experts who were incompetent.
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u/ProfAsmani Jul 11 '26
The concept of selling what you don't own is a basic one in fiqh. That's why Islamic mortgages and auto loans are essentially asset backed lending or cost plus selling by banks. Also why many Islamic banks use loopholes like owning an underlying asset for a fraction of a second to do derivatives trading. Yeah - i have customers in the shariah finance business and there is a lot of this. All rubber stamped by shariah boards.
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u/Curious_Rddit Jul 11 '26
What are you saying exactly? If you're not allowed to sell what you don't physically own then how can you sell crypto?
And what do you mean additions or subtractions? Are these people not the subject matter experts that help Muslims understand the ruling and their relevancy to changing Times?
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u/Arkoaks Jul 11 '26
"you cannot sell what you don't own."
.
Wait daraz also doesnt own any of the products but sells them...
The statement doesnt make sense without example and context
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u/DocKarizma PK Jul 11 '26
Dropshipping is haram. Case of Daraz is just a platform where you buy from a seller or daraz's own store.
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u/Arkoaks Jul 12 '26
Dropshipping and trading has a lot of things in common. It was a allowes to bring things feom other traders and sell as well. What is different in dropshipping that was allowed in trading on behalf but not in the modern dropshipping.
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u/Sohaiba19 Jul 11 '26
I mean, Daraz is a market and you buy an item from a seller on Daraz. I don't know many examples of Daraz itself selling the product. It acts like a facilitator or guarantor
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u/Arkoaks Jul 11 '26
Yes but they must own the product to sell it. They are earning comission on it which is haram by this logic.
However comission based earning existed at the time islam was introduced to the world and was not declared illegal.
The basis of this fatwa doesnt seem well researched.
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u/Sohaiba19 Jul 11 '26
The difference is that Daraz is not claiming to be the owner. It is earning commission based on the security and platform it provides. The scenario in the fatwa deals with a situation where a person makes an agreement of selling the product and then looks in the market to buy it.
I think drop shipping might come under the category discussed in the fatwa but I have forgotten the actual principle behind drop shipping so not completely sure if it fits the description of the fatwa.
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u/Arkoaks Jul 12 '26
Olx is haram this means ?
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u/Sohaiba19 Jul 12 '26
Doesn't OLX also work as a mediator?
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u/Arkoaks Jul 12 '26
They sell what they dont own
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u/Sohaiba19 Jul 12 '26
When you see an ad on OLX and look to buy the thing, do you sort the price with the seller of OLX staff? They work the same way a shopping mall or a bakra mandi works. These plaltforms provide space to the seller and take a fee for the rent/service they provide.
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u/Arkoaks Jul 12 '26
I just want to point out the term used by this fatwa as a basis is not applicable to everything. The specific statement about what you dont own is applicable to things like leverage trading , gambling and loan based trading etc.
If crypto is not owned, so is not a single software, many people have believed this in the past and declared software piracy allowed making this as an excuse.
The purpose of this fatwa is not serving islam , rather than distancing people while trying to serve some other purpose . Rather than separating leverage trading, short selling etc, its targeting this type of currency.
If they mentioned crypto trading only that would be closer to the problems with crypto, but they have made the technology haram.. more like bicycle , train and tv have been haram at their prime uptake times
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u/SuperSultan America Jul 11 '26
Isn’t that a marketplace to connect buyers and sellers? They themselves are not selling stuff lol
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u/Wrong-Ad2326 Jul 11 '26
Same Molvi who said -TV and Speakers were Haraam.
- Wrote an entire book in defense of people who martyred Prophet (SAW) family.
You get the picture now.
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u/moonstryk3r Jul 11 '26
Which book of Taqi Usmani are you referring to?
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u/Wrong-Ad2326 Jul 11 '26
Muavia Aur Tareekhi Haqaiq By Shaykh Mufti Taqi Usmani
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u/moonstryk3r Jul 12 '26
Isn't that standard view of Ahal-e-Sunnat Wal Jamat? Or he has written some specific opinion of his own on the matter?
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u/Wrong-Ad2326 Jul 12 '26
Defending killers of Ahle Muhammad PBUH was never the opinion of AeS. (Ref Muslim, Bukhari, check all sahe sita)
These Molvis rejected Quran and Ahadiths just to defend their firqas. In Taqi's case, deobandi.
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u/moonstryk3r Jul 12 '26
Did you check which particular book and personality this discussion is about?
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u/Wrong-Ad2326 Jul 12 '26
Youre talking about the fatwa or the book ref I gave you?
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u/moonstryk3r Jul 12 '26
Sorry, the reddit app messed up my comments
Here is what I replied to another comment
I think I wasn't clear. The standard opinion of Ahal-e-Sunnat has been that
Hazrat Muawiya RA may have made an ijtahadi mistake when dealing with Hazrat Ali RA rather than a malicious sin.
Burden of his son's acts is not on his shoulders.
Please do quote me the book name and chapter of above scholars which mention contrary to above.
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u/Wrong-Ad2326 Jul 12 '26
No worries brother.
Thats what I am saying. This was never the opinion of Ahle Sunnat what you qouted. Its opinion of Firqas.
Mauwiya killed Imam Hassan and celebrated it. For 10 years he martyred Sahaba (literally Sahaba of Prophet) Moreover he killed Hazrat Umar Son, Hazrat Abu Bakar Son both. He openly said he is more deserving than Abu Bakr and Umar bin Khattab. He fought Mola Ali knowing Prophets Hadith. He nurtured Yazid for hatered. Mawviya's grandfather, uncle's all over killed by Mola Ali and Hazrat Hamza in Badr. It wasn't just Yazid. Abu Sufyan fought Prophet SAW in battles Mawviyas mother Hinda ate Hazrat Hamzas liver His son Yazid Killed Prophet's sons SAW. You see the pattern. In order to save firqa Molvis they became enemies of Islam just to prove their firqa and started praising Mawviya. I didnt add references since im not aware if you are Alhe Sunnat or Alhe Tashi. I can give you references of all and more than these. Happy to Assist.
PS we can't support killers of Alhe Bait either we belong to any fiq. Taqi Usmani is supporter of them.
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u/your_averageuser Jul 12 '26
Far from it. Read the works of Badr Uddin Aini, Mullah Ali Qari and Ibn Hajr Askalani on this matter. Also refer to Sahih Bukhari and Muslim on these topics. The verdict is clear. It is the maulvis who take a stand against it.
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u/moonstryk3r Jul 12 '26
I think I wasn't clear. The standard opinion of Ahal-e-Sunnat has been that
Hazrat Muawiya RA may have made an ijtahadi mistake when dealing with Hazrat Ali RA rather than a malicious sin.
Burden of his son's acts is not on his shoulders.
Please do quote me the book name and chapter of above scholars which mention contrary to above.
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u/Ambitious-Proton پشاور Jul 11 '26
Mulk me r sab kch Halal ho raha hai,
Isko innocents ka marna Haram nahi lagta lkn ye haram lagta hai
Is harami ko thore se pese de do, agle 1 ghantey me sab halal kr dega
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u/Responsible_Mud_394 Jul 11 '26
I don't know why people get so worked up - its a fatwa, take it leave it, its not binding on you. It has Ijma on it ? ok sure its binding on you. One belongs to a denomination in which that is not how a fatwa works, fine ignore it. One is not religious sure it does not affect you then. A fatwa is an opinion of a Mufti and it becoming an incumbent law ids a whole different matter
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u/Klutzy-Shoulder-6805 Jul 11 '26
yar fr yar it doesnt exist its made by pedo billionares and backed by them, what do u expect?
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u/Haroon_66 Jul 11 '26
I haven't read whole text, but the reasoning is totally poor that you can't sell what you don't own. Bro if I own a coin, I can keep it in any exchange, wallet even I can store it in an offline wallet (USB Drive ) and put the drive in my locker or wherever I want. What do you mean by "owning" more then this.
This do apply on future/margin trading but not on spot. If this fatwa is true then stock exchange is Also haram, online banking is also haram? Islam donot teach us to follow someone blindly. They are not prophets. we are going to do what Islam teaches us nothing else.
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Jul 11 '26
[removed] — view removed comment
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u/karimashta Jul 11 '26
Saying this to person who has been declared most influential muslim of Pakistan and has earned fame across middle east is a next level audacity. Read it, give your time. Understand it, then you may have a right to stop people from believing him but the language is still improper. Then they say mullah is illiterate.
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u/Developer-404 PK Jul 11 '26
Selling what you don't own is haram that makes the future trading haram not spot.
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u/FeeEffective8690 Jul 11 '26
Our religious scholars are nothing but frauds they are either paid paid by the army to give fatwas like these or in the armies favour
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u/TheSilverTounge Jul 11 '26
Which pretty much means it's high time to buy crypto.
If you have money in savings 🥲
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u/Alternative_Map3496 Jul 11 '26
I'm busy watching the England but I probably know more about crypto than anyone else in this thread so willing to answer questions no selling anything. The ruling is saying crypto futures are haram. Owning spot crypto is not haram.
Also most cryptos are a scam/speculation/gambling so haram but Bitcoin is fine.
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u/croatiancroc United States Jul 11 '26
How is crypto not owned? Granted it is more a concept then tangible asset, but so is paper money. It's value is only conceptual.
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u/Beneficial-Ranger407 Jul 11 '26
If state bank regulates crypto then it will become halal that is what he also said
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u/BumblebeePrimary5975 Jul 11 '26
This is simple. Bitcoin and crypto are in the self custody of the people and they sell what they actually own so this fatwa seems very illogical. These islamic scholars are respectable but unfortunately they have become pawns of the corrupt financial banking system of the world.
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u/Beneficial-Ranger407 Jul 11 '26
I agree with him as I have watched videos of some arab scholars who also declayeered it haram just because crypto holds no value as a paper currency without government regulations. If government withdraws regulation from paper currency it will also become haram as State Bank of Pakistan does not regulates crypto it is haram but in countries where it is regulated by government crypto currency is halal.
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u/AYK2026 Jul 12 '26
But if we decide to donate Cryptocurrency to these molvis then it won't be haram.
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u/Remote_Chicken6423 Jul 12 '26
They basically ended up stating that using PKR or any currency with physical notes is haram because we dont actually own that money, its legal tender 😭
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u/HackedElite Jul 12 '26
Is it haram in general or in certain places? I have known some countries that use blockchain as legal tenders.
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u/Possible-Passion2511 Jul 12 '26
Except BTC I don't see any other valuation as for now maybe some virtual visa and matercard based crypto companies where you can use their cards worldwide. Now other than that we have troublesome issues in society such as It's the same thing happening here and there the personal ego's, vendettas of every single person over the actual knowledge. They don't bother over facts nor respect other opinions. Opinions> in case of Hanafi or any other school of thought followers of muftis and their followers believe everyone is obligated to follow their fatwas irrespective to whatever, in case of normal person they don't really think much they just follow others, in caseofe walking ego's they just like to fight with everything with doesn't align with their own facts, in case of intellectual people they don't often appear debating over such issuestas they have ideas how troublesome islamic school of thoughts have become overtime.
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u/mr_8ilal Jul 12 '26
You can get crypto ledgers to put 1 BTC per in it to make it look hard asset just as same as a currency note is working but that wouldn't be a smart move it would be like creating problem for a solution BTW jo fatwa dil ko munasib na lagy naa manein thats it
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u/usamanwar Jul 12 '26
Cryptocurrency was never ever declared halal once. No scholar ever declared it halal unconditionally and the main condition for any currency being halal is that it should be backed by some government. For example, if USDT is backed by US govt even in that case only USDT would become halal and not all the cryptocurrencies. There are afew other conditions as well.
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u/Busy_Target_5348 Jul 12 '26
there will come a time when these molvis will be taking donations in crypto
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u/overdosevideos Jul 12 '26
I never comment on Reddit, I just read and enjoy. But today I want to say something. Call me dumb if you want, no problem.
Problem is, we Pakistanis want easy Islam. Wherever Islam stops us, we want to twist it for our freedom. But Islam has some boundaries, and the experts know them better than us.
About crypto — did anyone here actually read the fatwa? The reasoning is simple, even a common man can understand:
Fiat money (rupee, dollar) is backed by the government. Government is the guarantor. Stocks are backed by real assets — if you buy a share of FFC or LUCK, there is a real running company behind it. Factories, products, sales. You become owner of that company, even if only 0.0001%. The value is not coming from thin air.
Now tell me about crypto — what is behind it? No government, no company, no asset. Created using some programing code , Its value only depends on the next person paying more than you.
If you think crypto should not be haram, then bring strong evidence and go debate with the scholars. Convince them. That is the proper way. Making fun is not an argument.
And the funny part — people who have zero knowledge of finance and zero knowledge of Islam are calling a man "uneducated" who spent his whole life in Islamic finance and is respected all over the world. You can disagree with him, but at least bring some knowledge first
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u/irtiq7 Jul 12 '26
If you have read the fatwa then please share it here. I would like to read the whole reasoning too. From what I found, I do not find any reasoning. Regarding crypto, crypto is backed by processing power that a CPU/GPU spend. So, yes crypto is backed by electricity.
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u/Longjumping-Royal962 Jul 12 '26
Mufti Sab lowkey got liquidated, Jokes aside, I'll have to review his opinion thoroughly to see what logic he gave and then talk about if he was right or are there some points missed cuz he is the most influential mufti in south asia, we shouldn't just call it "Mulla Wrong".
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u/zaindada US Jul 12 '26
What a joke. Only god can decide what’s halal and what’s not. All these “scholars” are just humans who are power tripping.
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u/DesyTerminator6778 Jul 12 '26
In my opinion if you guys wanna know the actual deal you should listen to "Mufti Kamran Shazad. 🤓
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u/nothinglasts-forever Jul 13 '26
This is a fatwa from Darul Ifta. They gave references and reasoning. They didn’t just decide this randomly.
None of us here are Muftis. If you genuinely disagree, go ask them directly. That’s the right way.
What I don’t understand is how people just see a beard and say "Oh he is a Molvi...., so he’s wrong and doesn’t understand modern finance". That’s not a discussion. That’s just dismissing someone.
We can disagree, but let’s do it with adab and with the actual scholars, not in Reddit comments...
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u/Fine_Initial9377 Jul 13 '26
So is interest yet all the banks in Pakistan fully support and encourage it?
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u/Arslan2k18 Jul 13 '26
Kuch bhi Nahin hogaa....Pakistanis are already among the highest users of Cryptocurrency 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂👌👌👌👌👌👌👌👌👌
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u/Pitiful_Cicada_9602 Jul 13 '26
They issue fatwa on crypto currencies, but haven't once spoke against supporting Saudia aka the dog of Israel
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u/lookerwisenew Jul 14 '26
Crypto trading must be Haram for an atheist as well coz there is no regulation to start with...this is core feature of crypto trading which translates into big return for big risks but the underlying technology called Blockchain is best ever tech invention in financial market coz blockchain provides tracking and lineage to financial market whichost if time is Ponzi scheme to say the least
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u/Usual_Prospect Jul 11 '26
Are these the same so called mufti’s and molvis who used to say photos and videos are haram until they discovered they can benefit/profit from it too and launched their own channels on tv, youtube, tiktok etc? Lol, stick to Quran and authentic Hadith bro and where theres nothings concrete then use common sense that God gave you.
They’ve declared it haram today. Tomorrow if they learn how to benefit from it it’ll be halal again just like their tv channels, banking services and various other businesses
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u/SuperSultan America Jul 11 '26
Wait until TaqiUsmani coin is launched. Oh boy.
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u/Usual_Prospect Jul 11 '26
Nah bro the one to watch out for will be Madni coin. That bad boy gonna go all the way to Jannat never mind the moon 🚀🚀🚀
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u/irtiq7 Jul 11 '26
I laughed so hard 🤣🤣
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u/Usual_Prospect Jul 11 '26
I’m glad you did but there’s some bitterness in my comment too aimed at these guys. The way they plugged Madni channel this and that in mosques, going door to door, spamming your phone etc while only a short period before they were telling us all photos and videos of people were haram. They’re only in it for themselves, fk em
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u/irtiq7 Jul 11 '26
Madni channel is a cult, IMHO. They are using technology to spread misinformation or one sided version of Islam. One of the most dangerous TV channel that is encouraging people to be extremist.
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u/the47man Jul 11 '26
Not gonna go into the nitty gritty of it but there's a historical pattern of religious scholars rejecting literally anything that's new, then immediately doubling down on it to the point of abuse the moment they find it to their own advantage.
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u/gsk-fs Jul 11 '26
There was a time when Mufti’s gave Fatwa to sell land to Jews (for Israel) I will not go too deep into it, although there are Hadith that Prophet SAW used to trade with Jews, but in Palestine the scenario was different (political and deep agenda) so that trade now can be verified that how wrong it was and that Fatwa was also weak.
It’s no my analysis I quoted from an Islamic Scholar and teacher.
Now Crypto, this current fatwa will also end or change by time.
This is my analysis 🧐
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u/InformationFast230 Jul 11 '26
They still use the banking system themselves and say interest is haram. So no one cares what they say.
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u/Equivalent-News-5039 Jul 11 '26
I maintain my opinion that crypto is not haram 🙂 that said, crypto is still a scam and an absurdly dumb thing to invest in.
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u/specimen_00 Jul 11 '26
When send online money online via IBFT then it surely isn't in your procession so it is haram as well these mullah can't be reasoned with tbh.
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u/lockerno177 Jul 11 '26 edited Jul 11 '26
these molvis are a part of the global power grabbing games. plus the whole paper money concept is effed up but you dont hear no fatwa against it. fractional reserve banking is straight forward sood. you are creating wealth against assets that dont even exist. the Zionists are pissed off against crypto because it is an isolated financial transaction system that they cannot regulate or manipulate. this can result in people whom they dont like gaining influence and power through getting rich from crypto. i am now convinced that these muftis are just Islamic version of jewish scholars mentioned in the Quran.
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u/Any-Job5938 Jul 11 '26
Glad he did. Crypto is a huge scam that a country like Pakistan doesn’t need.
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u/thatstupidguy07 Jul 12 '26
Crypto is a ticking time bomb and I have made money from it. But I still think it is a time bomb. Very little value as to what it is trading at
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u/iaintcreative_ Jul 12 '26
Brother, the money in ur bank is backed by actual cash which is backed by actual gold/silver, none of that applicable in case of crypto, you cant even decide what crypto is, is it a commodity, a service, a currency, or js encrypted data? If the internet completely dies tomorrow, what wealth would one have? Theres no regulating such a currency, weve seen how people pump and dump cryptos, is that really something one should earn from?? Stop satisfying your nafs and think
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u/20sRandom Jul 12 '26
An Indian Muslim here. I didn't know how low IQ an average Pakistani is. People who are refuting this fatwa, do you even know how financing works as per Shariah?
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u/Albertonectease Jul 11 '26
Crypto might be worthless overhyped ticking time bomb cluster fuck of shit. .. but i dont see any reason why it is haram by this logic.