Tag: Fiqh

Fiqh of Cryptos – Part 1 and Part 2

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Islamic jurisprudence and cryptocurrency symbols with digital economy elements

The most common objection to crypto assets in Shar’iah discussions is not about risk. It is not about volatility either. It is more basic than that. The objection says there is no ‘thing’ here to judge in the first place. A crypto asset, based on this view, is not property that happens to be risky. It is not property at all. It does not exist. It is only an imaginary or a fictional number in a database, created by a computation. And numbers in a database are not wealth or assets (mal).
If this premise is correct, every later question is already settled. Is a crypto asset property (mal)? Does it carry financial or economic value (maliyyah) in the Shar’iah sense? Is it a form of wealth Shar’iah recognizes (mutaqawwam)? None of these questions need to be asked if the object itself does not exist. This series of articles explores these questions in depth.

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Assessing Universal Basic Income: An Islamic Historical and Maqāşidī Perspective

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Group of people in traditional clothing gathering around a table of coins with five illuminated Islamic principles above

The authors identify a significant blind spot in modern Islamic economics, noting that contemporary Muslim jurists have historically ignored the concept of a universal, unconditional cash transfer. This silence stems from a long-standing academic preoccupation with targeted, faith-based wealth redistribution mechanisms like Zakāh and Sadaqah, which are structurally designed for selective poverty alleviation rather than serving as a baseline macroeconomic floor for every citizen regardless of financial status. By shifting the analytical lens toward the broader state obligation of ensuring collective welfare, the authors construct a fresh, normative framework that integrates UBI within an Islamic moral economy.

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