Does Bitcoin Contain Gharar? A Shariah Perspective on Volatility and Risk in Crypto

Introduction: Why Bitcoin and Gharar? Bitcoin is the world’s most recognized and dominant cryptocurrency. Yet despite its widespread adoption, some fatwas have declared Bitcoin haram, often citing the Shariah concept of Gharar — usually translated as excessive uncertainty or high risk — as a key reason. Among these are fatwas from: This blog addresses the […]

Is Bitcoin Halal? Shariah Compliance Explained for Muslim Investors

Introduction Bitcoin has revolutionized finance as a decentralized, peer-to-peer digital asset. As Muslim investors seek to align their investments with Shariah principles, a key question arises: Is Bitcoin halal? In this article, we explore Bitcoin through the lens of Shariah and Islamic finance, drawing from detailed research. Bitcoin as an Asset in Shariah The first […]

Futures Trading: Why It’s Not Halal?

Introduction Futures trading has become common in crypto, commodities, stocks, and other markets, thanks to the emergence of online trading platforms. But when it comes to the question whether it is halal or haram, many Muslims are confused. Some fatwas say it’s haram. Others online articles claim it’s halal — even quoting scholars out of […]

The Truth About So-Called ‘Islamic Accounts’ in Online Trading and CFDs

Introduction: A Growing Problem for Muslim Traders If you’re a Muslim investor or trader, chances are you’ve come across online platforms offering “Islamic Accounts” for forex, crypto, stocks, or commodities trading. They promise swap-free trading and label the product as ‘Halal’ or ‘Islamic’. But here’s the truth, almost all of these ‘Islamic Accounts’ are deceptive. […]

A Shariah-Based Classification of Crypto Assets: Understanding Digital Assets through an Islamic Lens

Introduction As digital assets reshape global finance, Islamic scholars and fintech innovators are tasked with navigating this space through the lens of Shariah. While conventional taxonomies group tokens by technology or economics, Islamic finance requires a distinct framework—rooted in classical Fiqh principles. At Azka Advisors, we’ve developed a Shariah-centric taxonomy of crypto assets to help […]