Masjid Ramadan, a Mosque located in London is considering to accept crypto for almsgiving, during the commemoration of the Ramadan. The people this year will be able to give the Zakat in the cryptocurrency of their choosing. This according to an article first published in CCN.
The Islamic religion regards Ramadan as one of the five pillars of Islam. Ramadan is the ninth month of the Islamic religion calendar, characterized to be sacred. During this month is customary to fast to cleanse the body and the mind from sinful actions. Also, during this month, Zakat, that is, the mandatory share of every Muslim allowance that must be shared with the poor people for charity, is collected.
The issue with this mosque accepting cryptocurrencies is that many scholars can’t get to determine if bitcoin and cryptocurrencies are in fact, halal, this meaning if they are compliant with sharia law. The Sharia law is the Islamic religion code on living, that produces a set of rules from the Qoran, the sacred book of Islam.
While some are convinced that Bitcoin is really halal, and have been very vocal at it, other Islam scholars have prohibited the word bitcoin, like Assim al-Hakeem, who has stated that bitcoin is forbidden under Sharia Law. He stated that:
“WE KNOW THAT BITCOINS REMAIN ANONYMOUS WHEN YOU DEAL WITH IT… WHICH MEANS THAT IT’S AN OPEN GATE FOR MONEY LAUNDERING, DRUG MONEY AND HARAM MONEY”
So even with this issue, and having no dominant opinion about it, the mosque still plans to actively accept those donations, and will also host an information meeting to inform people about how they can donate. They will accept bitcoin and ethereum and will calculate the almsgiving at the market price of the day in which it was given. This will be the first mosque to accept zakat in cryptocurrency in the whole world. Regardless, the debate is still open.