Skip to main content

Turkey’s top religious authority declare Bitcoin as un-Islamic

Turkey’s top religious authority declare Bitcoin as un-Islamic
Ankara: Turkish authorities have announced that Bitcoin is not in accordance with the Islamic religion and has warned their citizens against buying the world’s most powerful cryptocurrency.
The Directorate of Religious Affairs said “Cryptocurrency is widely used for nefarious and illegal activities, and is not sufficiently regulated, making it far more volatile than other currencies.”
“Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation, they can be easily used in illegal activities like money laundering and they are not under the state’s audit and surveillance,” reported NewsWeek.
According to the Turkish media, the religious body at a meeting last Friday took a decision on the digital currency.
Despite the warnings from the government, citizens of Turkey have still invested in Bitcoin. It also acts as a platform for criminal to capitalize on the rise in the currencies value.
The virtual currency hit a high on Wednesday as it rocketed above USD 10,000 in Asia, according to Bloomberg News, more than 10 times higher than its value at the start of the year.
Cryptocurrencies are virtual “coins” that are “mined” by computers completing complex algorithms. Bitcoin is the most famous and widely used one.

Comments

Post a Comment

Popular posts from this blog

How would India react if Hindu girl was raped in mosque: Ex IPS Sanjiv Bhatt on Kathua rape

New Delhi: Former Indian Police Service officer from Gujarat, Sanjiv Bhatt who is known for his role in filing an affidavit in the SC against the then Gujarat CM and now PM, Narendra Modi, concerning his alleged participation in the 2002 Gujarat riots; has said ‘what would have happened if the situation was reversed in the Kathua rape case’ and the criminals were Muslims. Sanjiv Bhatt (IPS) ✔ @sanjivbhatt Just imagine how Indian media and public would have reacted to a Hindu girl being abducted, abused, raped and killed by several Muslim men while being hidden inside a mosque? All Hindus who are silent about this ghastly crime that has been committed in their name are complicit. 11:46 PM - Apr 11, 2018 2,467 1,560 people are talking about this Twitter Ads info and privacy Bhatt tweeted on Wednesday “Just imagine how Indian media and public would have reacted to a Hindu girl being abducted, abused, raped and killed by several ...
Post a Comment
Read more

KIND TREATMENT OF WIVES

God instructs men to be nice to their wives and to treat them well to the best of their ability: "…And live with them in kindness…" (Quran 4:19) The Messenger of God said, The most perfect of believers in belief is the best of them in character.   The best of you are those who are the best to their women.’[1]   The Prophet of Mercy tells us that a husband’s treatment of his wife reflects a Muslim’s good character, which in turn is a reflection of the man’s faith.   How can a Muslim husband be good to his wife?   He should smile, not hurt her emotionally, remove anything that will harm her, treat her gently, and be patient with her. Being nice includes good communication.   A husband should be willing to open up, and be willing to listen to his wife.   Many times a husband wants to air his frustrations (like work).   He should not forget to ask her about what annoys her (like when children would not do their homework).   A husband ...
Post a Comment
Read more

Why is Mahr a Must in Marriage? How Much to Give?

Praise be to Allaah. In Islam the  mahr  (dowry) is one of the rights of the wife, which is hers to take in total and is lawful for her, in contrast to the widespread practice in some countries, where the wife is given no dowry. Evidence that the wife must be given her dowry is found in many places, for example the aayah (interpretation of the meaning):  “And give to the women (whom you marry) their mahr (obligatory bridal money given by the husband to his wife at the time of marriage) with a good heart…”  [al-Nisaa’ 4:4] Ibn ‘Abbaas said: “This refers to the mahr (dowry).” Ibn Katheer, may Allaah have mercy on him, said, summarizing the comments of the mufassireen on this aayah: “The man must definitely pay the dowry to the woman, and he should not resent it.” Allaah says (interpretation of the meaning):  “But if you intend to replace a wife by another and you have given one of them a cantar (of gold, i.e., a great amount) as mahr, take not the le...
Post a Comment
Read more