Bitcoin Continues Making Inroads in Islamic Finance

On paper, it will be very difficult for Bitcoin and other cryptocurrencies to gain traction within the Islamic finance industry. Unlike what most people may assume, Bitcoin can still be Shariah-compliant. For example, Adab Solutions has launched the First Islamic Crypto Exchange (FICE), which is fully Shariah-compliant and will expose users to various cryptocurrencies. FICE has its in-house Shariah Advisory Board and will conduct an initial coin offering. Investors purchasing these tokens will be given access to all services provided by the exchange. Additionally, commissions paid to users of the FICE will come in the form of Adab tokens.