Mufti Muneeb-ur-Rehman Clarifies Position on Cryptocurrency and Islamic Investments
Senior Pakistani Islamic scholar Mufti Muneeb-ur-Rehman has clarified that he has not issued a definitive religious ruling (fatwa) declaring cryptocurrency either permissible or impermissible under Islamic law. Speaking in a recent interview, he said the issue requires careful consideration due to the complexities of modern financial systems. He also described gold trading in its commonly practiced form as inconsistent with Islamic principles.
Mufti Muneeb Calls for Shariah-Compliant Investments, Says Crypto Verdict Remains Open
Addressing Islamic investment practices, Mufti Muneeb emphasized that Muslims should invest only in businesses and financial activities that comply with Shariah. He said investments linked to prohibited sectors such as alcohol, pork, narcotics, and other impermissible businesses should be avoided. He added that scholars use Shariah screening standards to determine whether modern investments meet Islamic requirements.
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His remarks come amid an ongoing debate over the religious status of digital assets in Pakistan. Previously, renowned Islamic scholar Mufti Muhammad Taqi Usmani issued a detailed fatwa stating that cryptocurrencies, tokens, and stablecoins, in their current form, do not meet the Shariah definition of wealth (maal), making their trading and use for payments impermissible.
Following that fatwa, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib met Mufti Taqi Usmani and argued that blockchain-based digital assets should be evaluated individually through technical and Shariah assessments rather than being subjected to a single blanket ruling. Mufti Muneeb’s comments have added another perspective to the evolving discussion on the regulation and religious status of cryptocurrencies in Pakistan.
