Saylani Welfare Chairman Maulana Muhammad Bashir Farooq Qadri has stated that crypto is permissible under Islamic principles, saying that the organization had already issued a fatwa supporting its use around 13 months ago.
His remarks came after an emergency meeting was held at the Saylani Head Office following media reports and public discussion regarding the religious status of crypto. The session was chaired by Maulana Bashir Farooq Qadri and attended by blockchain specialists, along with Saylani’s Chief Mufti, Mufti Waseem Akhtar Al-Madani.
During the meeting, participants reviewed various viewpoints on whether crypto complies with Islamic teachings. The discussion focused on blockchain technology, digital assets, and their compatibility with Shariah principles.
Addressing the media afterward, Maulana Bashir Farooq Qadri said that Saylani had already declared crypto permissible through a fatwa issued more than a year ago. According to him, the ruling was formally shared with the Council of Islamic Ideology, the State Bank of Pakistan, and other relevant government institutions for their consideration.
He also emphasized that Saylani respects and supports government policies while noting that many countries have already adopted crypto transactions as part of their financial systems. He suggested that digital currencies are becoming increasingly common in the global economy.
The religious and legal status of crypto remains a subject of debate worldwide, with scholars, regulators, and financial experts continuing to assess blockchain technology, digital assets, and their compliance with Islamic and financial regulations.
The discussion gained renewed attention after a recent fatwa issued under the supervision of Darul Uloom Karachi by renowned Islamic scholar Mufti Taqi Usmani. The ruling states that trading cryptocurrencies, crypto tokens, and stablecoins is not permissible under Islamic law because these digital assets do not meet the Shariah definition of wealth or property.
The fatwa further explains that cryptocurrencies, blockchain-based tokens, and stablecoins such as USDT fall within the same category of digital assets. It concludes that simply changing the terminology does not alter their religious status, maintaining that buying, selling, or trading such crypto assets remains impermissible according to the ruling.
Also Read: Mufti Taqi Usmani Issues Fatwa Against Cryptocurrency Trading
