Empowering a Shariah-Compliant Financial Ecosystem with Islamic Coin
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Chapter 1: Introduction to Islamic Coin
Islamic Coin is focused on creating a Shariah-compliant financial ecosystem that adheres to ethical principles. The project aims to combine modern technology with Islamic finance, offering a unique opportunity for users to engage in financial activities that respect their beliefs.
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Highlights:
- A cryptocurrency that complies with Shariah law and has received Fatwa approval.
- Commitment to social impact: 10% of future issuances allocated to a nonprofit endowment.
- Over 1 million followers on Twitter and numerous press releases.
- Winner of the Middle East Blockchain Award for Most Promising ESG Crypto Project.
- A total of $193 million raised in on-chain funds.
This offering pertains to the right to specific digital assets provided by Bored Gen DMCC and does not represent a share or partnership in the company or its affiliates. Engaging in crypto and digital assets, including NFTs, carries significant speculative risks. Thus, it is advisable for investors to be well-informed and conduct thorough independent reviews.
Section 1.1: The Significance of Islamic Finance
Islam is the second-largest religion globally, with nearly 2 billion followers, making up a quarter of the world's population. Shariah Law influences many aspects of life for Muslims, including financial transactions. One fundamental tenet of Islamic finance is the prohibition of interest, a principle that many financial institutions do not currently observe.
According to the Global Islamic Economy Report, the Islamic financial sector was valued at $2.88 trillion in 2019, with expectations to rise to $3.69 trillion by 2024.
Subsection 1.1.1: Understanding Shariah-Compliant Digital Currency
Islamic Coin (ISLM) serves as the native currency for HAQQ, a blockchain that prioritizes ethical practices. This Layer 1 blockchain is designed to unite developers, validators, and Muslim innovators focused on sustainable finance. With 10% of every ISLM issuance directed to the Evergreen DAO, a nonprofit endowment, Islamic Coin aims to create lasting value for the Muslim community.
The first video discusses the $200 million fundraising for Islamic Coin and its mission to establish a Shariah-compliant financial ecosystem. Watch the interview for insights on its ethical approach and community impact.
Section 1.2: Building Community and Ecosystem
Islamic Coin has gained significant traction, boasting over 1 million followers across social media platforms. Its advisory board includes members from ruling families in the MENA region, and a Fatwa has been issued by renowned Shariah scholars, including Sheikh Dr. Nizam Mohammed Saleh Yaquby, recognized by Bloomberg for his expertise in Islamic financial products.
The project has been acknowledged as the Most Promising ESG Crypto Project at the Middle East Blockchain Awards, with collaborations including SushiSwap and Fambras.
Chapter 2: Tokenomics and Future Vision
The second video elaborates on Islamic Coin as a Shariah-compliant digital currency, detailing its unique attributes and potential for global adoption.
Token Distribution and Utility
The initial supply of ISLM is set at 20 billion, with a maximum cap of 100 billion coins. This limited supply is minted in a genesis block and will be distributed upon the network's launch.
Utility Applications:
- Facilitating remittances for the global migrant workforce.
- Serving as a store of value.
- Supporting Zakat, an obligatory charitable giving under Islamic law, with 10% of ISLM economics funding charitable initiatives via the Evergreen DAO.
Vision and Strategy
Islamic Coin's growth potential is bolstered by the vast Muslim community. With a goal of engaging just 3-4% of the online Muslim population, ISLM could generate substantial value for its holders and contribute significantly to the Evergreen DAO.
Leadership Team
The project is led by a seasoned team, including:
- Aleksandr Malkov, Co-Founder & CEO
- Andrey Kuznetsov, Co-Founder & CTO
- Mohammed Alkaff AlHashmi, Co-Founder & Executive Board Member
Summary: Why Choose Islamic Coin?
Islamic Coin seeks to empower Muslims globally with a financial tool designed for the digital age, ensuring seamless transactions while fostering innovation and philanthropy. With $193 million raised in private sales, this cryptocurrency is well-positioned to become a leading Shariah-compliant asset in the market, supported by a significant online community of 1.1 billion Muslims.
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