FatwaPerakTransactions & Finance
Urus Niaga Menggunakan Mata Wang Digital (Mata Wang Kripto/Cryptocurrency)
Is it permissible to transact using digital currency or cryptocurrency?
Short answer
The Perak State Fatwa Committee adopted the decision of the National Council for Islamic Religious Affairs (MKI) and ruled that transacting with digital currency is permissible as a medium of payment, for remittance and as a store of assets.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Perak State Mufti Department
- Status
- Fatwa committee decision
- Series
- Fatwa Yang Tidak Diwartakan
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Perak State Fatwa Committee adopted the decision of the National Council for Islamic Religious Affairs (MKI) and ruled that transacting with digital currency is permissible as a medium of payment, for remittance and as a store of assets. The permission is conditional on transactions being made through licensed exchange platforms approved and regulated by the competent authorities. Users must also have sufficient knowledge of the types, risks, means of acquiring and storing digital currency, platform rules and related laws. Digital currency may not be used to pay for goods, services or activities that are not Shariah compliant.
Written in our own words from the original fatwa — check the source before acting on it.
Harus menjalankan urus niaga menggunakan mata wang digital sama ada sebagai perantara pembayaran (medium of payment), pemindahan wang (remittance) dan aset simpanan sekiranya memenuhi parameter-parameter di bawah:
Read the full fatwa on the Perak website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Perak State Mufti Department. “Urus Niaga Menggunakan Mata Wang Digital (Mata Wang Kripto/Cryptocurrency)”, date not stated. https://mufti.perak.gov.my/images/Fatwa%20tidak%20warta/23%20URUS%20NIAGA%20MENGGUNAKAN%20MATA%20WANG%20DIGITAL%20MATA%20WANG%20KRIPTO%20CRYPTOCURRENCY.pdf. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-on-cryptocurrency-transactions-digital-currency/