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

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

7 Unknown Facts About Hajr Al Aswad Every Muslim Must Know.

The Hajr-e-Aswad also known as The Black Stone is set in the eastern corner of the Holy Kaaba. The Tawaf is started and ended by facing this sacred black stone. Over the years, throughout history, numerous people which included the Prophets of Allah (Peace be upon them) and the Holy Prophet Mohammad (Peace be upon him), the Sahaba (may Allah be pleased with them) and other pious Muslim personalities have performed Hajj and Umrah around the Holy Kaaba and have also placed their blessed lips on the Holy Stone. Today we are going to present some lesser-known facts about Hajr-e-Aswad.[irp] 1-The Hajr-e-Aswad also known as The Black Stone was brought down from heaven (Jannah) and was presented to Ibrahim (peace be upon him) so that he could place it in the corner of the Kaaba. Sunan an-Nasa'i 2935 2-The Hajr-e-Aswad was reportedly stolen from the Holy Kaaba during 930 CE by the Qarmatian warriors. These warriors sacked Makkah while desecrating the Well of ZamZam with corpses ...
2 comments
Read more

Buddhists violence against Muslims, Sri Lanka declares state of emergency

Colombo: Sri Lanka on Tuesday has declared a nation-wide state of emergency for 10 days after violent clashes broke out between majority Sinhalese Buddhists and minority Muslims in the country’s central Kandy district that left two persons dead. The meassure comes after a local curfew was imposed on Monday in a central hill station town. 50 business shops, 7 houses  and 2 mosques of the minority community set fire by Buddhists extremists in Monday violence that triggered following the death of a Sinhalese Buddhists. Police, to prevent clashes, deployed heavily-armed commandos of special task force in Theldeniya and Pallekele areas of Kandy district where riots have left two dead. President Maithripala Sirisena and the Cabinet on Tuesday decided to declare a state of emergency for 10 days following the violence prevailed in some parts of the country, Minister of Social Empowerment S B Dissanayake said. A Gazette notification would be issued right awa...
Post a Comment
Read more