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

School teacher terminated for physically abusing the School Child

School is a very special place that is a blessing to all of us who have attended it. In schools, we receive education and learn about things that build up our character. Education does not have any use unless a positive and appropriate character represents it. Now the question that should worry all of us is what sort of character a teacher should build of his students if he beats them up when they make a mistake? A video went viral on social media in which a teacher had the student pinned to the wall, as he was a holding a wooden stick in the other hand. The incident took place in a private elementary school in Al-Ahsa province. Apparently, the teacher had caught the student laughing and kept asking him why he was laughing. While asking the question he slapped the student three times and the student kept denying that he was laughing. The student was terrified and on the verge of crying as the teacher continued to verbally assault him while holding him against the wall....
Post a Comment
Read more

Saudi Crown Prince ranks no 1 in Bloomberg list of world leaders likely to stick around

New Delhi: Bloomberg has picked 16 countries and analyzed how long their leaders might hold off the palace coups, election defeats or waning powers that end political careers. In the list, Crown Prince Mohammed bin Salman is ranked 1st considering the fact that he isn’t king yet but he’s already effectively running Saudi Arabia at the age of 32 and he could conceivably govern for another half-century. Bloomberg has analysed that due to the presence of weak opposition and absence of a miraculous leader Modi can rule up to 2024. If the opposition doesn’t become strong Modi is likely to remain PM till 2029. Saudi Crown Prince Mohammed Bin Salman is followed by North Korean dictator Kim Jong UN. China’s Xi Jinping is on 3rd place. According to Bloomberg, Russia’s Vladimir Putin can have to give resignation in 2024. Recep Tayyip Erdogan can further rule for next one decade. Recep Tayyip Erdogan could become even more influential if he’s reelected in November 2019, when more power ...
Post a Comment
Read more

Why do Dogs start Barking (Howling) at the time of Azan ?

Q uestions: Why do dogs cry at the time of Fajr Azan? This is an incident that I’ve noticed very often. A nswer: Praise be to Allah, the Lord of the Worlds; and may His blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions. There are many wonders of Allah in His Creation. Dogs are among His Creatures. It is confirmed in a Hadith that dogs see what human beings cannot see. Abu Dawud reported in his Sunan that Jabir Ibn Abdullah narrated that the Prophet (Sallallahu Alaihi wa Sallam) said:” If you hear the barking of dogs and the braying of donkeys by night, seek refuge in Allah, as they see what you cannot see”. Albani and others classified this Hadith as authentic. In Sahih Al Jamie’, following the above Hadith is stated: ..’And reduce going out when it is quiet( when everybody is indoors at night time) as Allah diffuses by night what He wishes among His Creation, and lock your doors and mention the Name of Allah on them as ...
Post a Comment
Read more