Quick takeaways

• The compatibility of Bitcoin with the principles of Islamic finance is discussed, with some scholars arguing that Bitcoin can be considered as a form of ownership or a digital asset.

• The properties of Bitcoin as a non-physical asset align with the objectives of Islamic finance, such as stability and justice, making it a suitable form of money.

• Bitcoin's potential to disrupt the current financial system is highlighted, as its properties as hard and highly saleable money align with the principles of Islamic finance, promoting economic stability and reducing wealth inequality.

• The non-physical nature of Bitcoin is not a barrier to its acceptance in Islamic finance, as there is no requirement for money to be physical or have intrinsic value, and its potential to align with principles of justice and transparency is emphasized.

Deep dives