Tag: ShariahCompliance

Highlights of Al-Baraka Forum 2026

The AlBaraka Forum held the 6th AlBaraka Forum Regional Conference on 19 & 20 January 2026 at the Pearl Continental Hotel, Karachi, under the theme “Islamic Economy in the Digital Age: Innovation within the Framework of Compliance”. On this occasion, H.E. Mr. Yousef Hassan Khalawi, Secretary General of AlBaraka Forum for Islamic Economy, assured that Islamic finance now has the potential to be on the same stage as conventional banking, as both enter the digital age at the same moment, asking the question: “Will we follow the same trend for the last fifty years? No. From today, by entering this age, either you choose to be innovative, or again, you will be number two, always like before.”

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Central Bank Digital Currencies Through an Islamic Lens

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.

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