Behind the packages of the food we eat, we can see the word ‘halal”. This word surprising appears in other stuff too like in electronics. If we are to base it on its definition. Halal means that the product or food follows the Islam doctrine and does not contain any haram product. But moving on the side of cryptocurrency, we bet you are also curious if is trading cryptocurrency halal. If that’s what is going in your mind, then this article is for you! After reading this, you will be able to determine if it doesn’t violate the teachings of Islam.
What You Should Know About The Halal Certification
It is still a huge debate if is cryptocurrency halal islamqa. But before we dive into that topic, let us first talk about the halal certification. This certification is very important especially to people who follow the Islam. From food, to gadget, services, and other stuff. The teaching in Islam should not be violated. Perhaps others may not understand this that is why they are curious about it. So if you are one of them, don’t worry. Because we have provided some of the essential information that you need to understand the halal certification.
- Around the world, there are more than 1.6 billion Muslim. As consumers, they must rely on good and food in the market marked with halal certification.
- When it comes to canned or preserved food, it will be considered halal if the materials used are traceable and free from haram products. From additives to main ingredients, it should all be clearly stated.
- Halal is an Arabic word that means lawful or permissible. If the product is proven to violate this standard, then it will be classified as Haram or forbidden. This label make it easy for Muslim consumers. They can prevent violating the Quran rules with these labels.
- For a non-food material, you must be curious about how they label it. Well, the answer lies in the raw materials used and the manufacturing process. If any of the process violates the Quran rules, then it will be labeled as haram.
- As we all know, pork meat or any food mixed with it is considered haram. That’s because of the nature of the pork itself. And with this, the dietary rules for it remains forbidden.
- When it comes to poultry or meat, for it to be considered halal, it has to be slaughtered based on the Quran rules.
- Around the world, there are active centers that look after the halal certification of every product. From the World Halal Union, Halal quality control, Control office of Halal Slaughtering, and Halal International Consultancy.
- If you wish your product to be checked and certified, there are independent organizations that are in charge of the certification. You can send your sample to them and if it passes their standard that will be the time you will receive the Halal certification.
- It should be clear to you that the certification is only valid for one year. So you have to send a sample again to get a certification.
- Alcohol also remains forbidden even if the purpose is to use it in cleaning.
- You might find this extreme, but for a product to be considered halal, they also look into the cleaning process of the machine used in producing the product.
- Here’s the thing. Some people will go to the extent to deceive people and receive profit, so they fake their halal certification. But there is a solution for this.
- In order to check if the Halal certification is valid, then there should be of the following information:
- The name of the company that certifies the product.
- Certification name
- Signature and name of the trusted agent in the center
- The identification number should be present
- The address and name of the certification center should be clearly stated
- The validity period and date it was issued should also be seen in the mark.
- Without these, it will be considered haram.
On the View of the Scholars
So is trading cryptocurrency halal? Actually, scholars are still debating whether it is a halal or haram. For the majority, they claim that it defies the Islamic faith. However, some crypto companies are making sure that they are abiding by the law of Islam. So instead of digital money or cryptocurrency, they are trying to improve the physical assets that we have now. Furthermore, they are working on improving their regulations and rules to become compatible with the law of Islam.
On the view of the Islamic Financial Consultants
As long as the companies have not regulated and improve their rules, the cryptocurrency will remain haram. But why is it considered haram? This may be your question too. The concern is about the pyramid schemes and differences in fundamental qualities. Since the digital money or cryptocurrency takes place in the web application, it violates the basic Islamic Shar’ai. So whether you sell, invest, or trade with it, it is considered haram. Click here to know more about cryptocurrency!
Before we use a product or service, we consider things like compatibility and interest. That’s how we decide if it is good or not suitable for us. Just like if you are a follower of Islam. As a show of respect to the teachings, everything you eat or use should have a halal certification. And now that we have answered your question if is trading cryptocurrency halal, you can decide better. You have the power to choose whether you want to discontinue it.