FatwaSarawakTransactions & Finance
Saham Kripto/Bitcoin
What is the ruling on investing in crypto shares or cryptocurrency such as Bitcoin?
Short answer
The 36th Sarawak State Fatwa Council meeting ruled that cryptocurrency is permissible for transactions for investment, trading and as a store of value, provided certain parameters are met.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Sarawak State Mufti Department
- Date
- Status
- Opinion (irsyad)
- Series
- Irsyad (Koleksi Kemusykilan Agama)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The 36th Sarawak State Fatwa Council meeting ruled that cryptocurrency is permissible for transactions for investment, trading and as a store of value, provided certain parameters are met. Transactions must go through a licensed digital currency exchange approved and regulated by the authorities, and users must understand the types, risks, storage methods, platform rules and relevant laws. Digital currency may not be used to pay for goods, services or activities that are not Shariah compliant, and the Securities Commission's decision on its status as a commodity is accepted subject to its conditions.
Written in our own words from the original fatwa — check the source before acting on it.
Harus digunakan untuk menjalankan urus niaga sama ada bagi tujuan pelaburan, perdagangan dan aset simpanan sekiranya memenuhi parameter berikut:
Read the full fatwa on the Sarawak website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Sarawak State Mufti Department. “Saham Kripto/Bitcoin”, 22 January 2024. https://muftinegeri.sarawak.gov.my/web/subpage/irsyad_list/#2024-01-22-saham-kripto-bitcoin. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-on-crypto-bitcoin-investment/