P.D. Ali Qaradaghi, in a conference, presents the rulings on the latest financial issues

In light of the rapid economic development and profound changes witnessed by the digital world, P.D. Ali Qaradaghi, the head of the International Union of Muslim Scholars, held an open conference titled "Jurisprudence of Financial Transactions: Trump Coin, E-commerce, Forex, Margin, and their likes."

The conference was presented today, February 9, 2025, at the headquarters of the International Union of Muslim Scholars in Qatar, where financial and economic topics were discussed and analyzed with a deep scientific and jurisprudential perspective, combining legitimate rooting and modern economic understanding.

The conference highlighted the problems and issues of digital currencies, the most prominent of which is their display as currency, while they have no physical existence and exist only technically and electronically. Also, they are not backed by a specific principle, but rather rely solely on users, just as they are not issued by states and central banks. He also clarified that because these currencies are only used on the internet and within the confines of companies, there is a high probability that they will be used in illegal activities, such as drug trafficking.

Finally, he pointed out that Islam does not recognize these digital currencies as real currency and called on Islamic governments to prohibit dealing with these digital currencies. Because it poses risks and harms to the national economy, and called for the establishment of a set of rules to protect citizens from harm.

It is worth mentioning that this conference is a great effort to understand and familiarize oneself with the Sharia rulings related to financial matters, as well as to provide initial and comprehensive information about the latest changes presented in this field and to clarify their rulings to the public, in order to protect them from falling into the forbidden and guide them towards the permissible.