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“Virtual Currencies” by Hani al-‘Aliwi, a researcher focused on contemporary financial issues from an Islamic perspective, examines the phenomenon of virtual currencies like Bitcoin through a Shari‘a lens. The book explores their nature, origins, and economic implications, detailing how these digital, non-centralized currencies operate without physical form or governmental backing. It provides a balanced analysis of their benefits, such as facilitating online transactions, and risks, including volatility and lack of legal protection.
The study offers a comparative Fiqh analysis, assessing the permissibility of virtual currencies based on Islamic principles, addressing concerns like speculation and potential for illicit use. Its clear, scholarly approach makes it a valuable resource for those studying the intersection of modern finance and Shari‘a rulings, guiding Muslims on navigating this emerging financial landscape.
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