In Islamic jurisprudence, money (mal) serves primarily as a medium of exchange, a store of value, and a unit of account. Classical jurists such as al-Ghazālī and Ibn Taymīyah stressed that money must not be used for speculative ends or to generate guaranteed returns (riba), nor should it expose transacting parties to undue uncertainty (gharar) or resemble gambling (maysir). Extending these timeless principles into the digital age, a Shariah-compliant CBDC must preserve the objectives of Islamic law (Maqāṣid al-Sharīʿah) by fostering economic justice, preventing harm, and promoting communal welfare.
