Senior Pakistani Islamic scholar Mufti Muneeb-ur-Rehman has clarified that he has not issued a final religious ruling declaring cryptocurrency either permissible or impermissible under Islamic law. His remarks came during a recent interview in which he also expressed reservations about gold trading and discussed the principles of Shariah-compliant investments.
Responding to a question about Islamic investment options, Mufti Muneeb said Muslims should invest only in businesses that operate within the boundaries of Islamic teachings. He explained that investments linked to prohibited activities, such as alcohol, pork, narcotics, and other impermissible businesses, should be avoided.
He further noted that today’s financial markets are far more complex than in the past. Because of this, Islamic scholars use Shariah screening criteria to determine whether a company or investment complies with Islamic principles before it can be considered suitable for Muslim investors.
During the discussion, Mufti Muneeb also commented on gold trading, describing it as an inappropriate form of investment according to his understanding. However, he emphasized that he has not issued a definitive fatwa declaring cryptocurrency to be either halal or haram.
His comments come amid an ongoing debate in Pakistan regarding the religious and legal status of digital assets. Earlier, renowned Islamic scholar Mufti Muhammad Taqi Usmani issued a detailed fatwa stating that cryptocurrencies, digital tokens, and stablecoins do not currently meet the Shariah definition of maal (wealth). Based on this view, he declared their trading, buying, selling, and use as a payment method impermissible under Islamic law in their present form.
Following that ruling, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib met with Mufti Taqi Usmani to discuss blockchain technology and digital assets. After the meeting, Bilal argued that not all blockchain-based assets should be treated alike and suggested that each category deserves a separate technical and Shariah assessment rather than a single blanket ruling.
Mufti Muneeb’s recent remarks have added another perspective to Pakistan’s ongoing discussion on cryptocurrency, Islamic finance, and the future regulation of digital assets.
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