First sharia crypto exchange opens in #UAE
A new sharia-compliant crypto exchange has announced plans to launch in the UAE. Sustain Exchange hopes to offer sharia-complaint and ethical services to give Muslims a space in which to invest in the crypto market. An initial coin offering is planned for June and security tokens issued during the offering will serve as the key to accessing the exchange’s services. Sustain Exchange will introduce an independent sharia advisory to maintain compliance with sharia principles. To this end it has appointed an Islamic fintech scholar to its board, Mifti Faraz, director of Amanah Finance Consultancy.
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