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

Fake diamond worth Rs.3500 sold for Rs. 1.2cr in Hyderabad

City Police Hyderabad police have arrested two men for allegedly duping a businessman of Rs 1.20 crore by selling him a fake diamond. Mohd Ather Siddique (52) and Mohd Salam Khan (39), who are in the pearls and gems business, were arrested from Abids area based on a complaint filed by the businessman, city police commissioner V V Srinivas Rao said today. Siddique and Khan allegedly offered him a “25-carat diamond piece”, according to the complainant. “Believing them, the complainant purchased the diamond paying them Rs 1.20 crore on January 18. When he got it tested, it was found to be fake,” Rao said. The cheap material resembling the diamond was used for making buttons, he said. As per the investigation, Siddique and Khan had suffered losses in their business and needed money, so they hatched the plan to pass off a fake diamond as a real one. They purchased a fake diamond for Rs 3,500 from the Sunday market at Charminar and sold it to the complainant. Police also recovered...
Post a Comment
Read more

ISIS (Islamic State) claimed suicide attack kills 41 in Kabul

A fghanistan :Suicide bombers stormed a Shia cultural centre and news agency in the Afghan capital on Thursday, killing more than 40 people and wounding scores, many of them students attending a conference. Islamic State (IS) said in an online statement that it was responsible for the attack, the latest in a series the movement has claimed on Shia targets in Kabul. Waheed Majrooh, a spokesman for the Ministry of Public Health, said 41 people, including four women and two children, had been killed and 84 wounded, most suffering from burns. The attack occurred during a morning panel discussion on the anniversary of the Soviet invasion of  Afghanistan  at the Tabian Social and Cultural Centre, witnesses said. The floors of the centre, at the basement level, were covered in blood as wailing survivors and relatives picked through the debris, while windows of the news agency, on the second floor, were all shattered. “We were shocked and didn’t feel the explosion at f...
Post a Comment
Read more