Monday, November 1, 2021

Major Islamic Organization Issues Fatwa Against Cryptocurrency, Declares It Haram

Although Afghanistan and Pakistan are neck and neck in the "who is more ultra-conservative" race, both having passed Saudi Arabia, if *these guys in Indonesia go hardcore the archipelago nation is going to give them both a run for their money. Which would be a shame as Indonesia's 270 million people have a real shot at being a major economy in 25 - 30 years.

From Iran's AhlulBayt news aggregator (couldn't find the original report), October 30:

Indonesian religious organization Nahdlatul Ulama issues Fatwa against Cryptocurrency as 'Haram'

The local branch of the Indonesian religious organization Nahdlatul Ulama in East Java has recently issued a fatwa on the status of cryptocurrencies under Islamic law. According to the nonbinding opinion, digital currencies secured by cryptography and used as a transaction instrument are to be considered “haram,” which means forbidden.

The decision came as a result of “bahtsul masail,” a discussion held by the organization on Sunday, Oct. 24, the Indonesian news portal Tempo reported. Members involved in the debate, which the article describes as “dynamic” and “heated,” concluded that the use of cryptocurrency could undermine the legality of financial transactions.

Another point that was raised during the meeting is that crypto could serve as a tool for committing fraud. An announcement published on the website of the East Java Nahdlatul Ulama branch quotes Kiai Azizi Chasbullah, the “discussion’s certifier,” as saying: “Participants of the bahtsul masail formed a view, despite crypto already being acknowledged by the government as a commodity, that it cannot be legalized under the [Islamic sharia].”

During the meeting, they also decided that “cryptocurrency lacks any benefit from the sharia point of view, as mentioned in fiqh,” or the Islamic jurisprudence. According to the Indonesian publication, this position has been confirmed by a “cryptocurrency expert” who took part in the religious debate to explain “the proper practice in the digital currency’s use.”....

*The Philippines' BusinessMirror wrote last month that NU is liberalizing Islam but the crypto fatwa doesn't sound like it:  

Biggest Islamic group driving religious reform in Indonesia; influencing the Muslim world

I've mentioned  my Pakistani friend who has a closet addiction to Bollywood (especially dance scenes). 

He introduced me to his daughters by calling me haram.

He also likes the fight scene from the movie "I", it's Tamil though, not Indian.

Trigger warning: Once seen, it cannot be unseen.