Bitcoin
$43,795.24+0.29%
Ethereum
$2,353.05-0.51%
Binance Coin
$242.55+3.10%
XRP
$0.68251982+4.50%
Solana
$76.99+4.92%
Cardano
$0.62841441+21.90%
Dogecoin
$0.10180631+3.70%
Avalanche
$33.83+23.61%
Polkadot
$7.57+15.21%
Tron
$0.10799138+1.79%
Chainlink
$16.89+2.58%
Polygon
$0.92910640+5.04%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

Islamic Coin in Pact With CoinDesk Indices to Discuss Sharia-Compliant Benchmarks

Islamic Coin is the native currency of HAQQ, a blockchain focused on developing a Shariah-compliant financial ecosystem.

By Stephen Alpher
AccessTimeIconSep 14, 2023 at 3:30 a.m. UTC
Updated Sep 14, 2023 at 4:35 p.m. UTC
The HAQQ network is focused on developing a Shariah-complaint ecosystem (May Lim/Unsplash)

The HAQQ network is focused on developing a Shariah-complaint ecosystem (May Lim/Unsplash)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Islamic Coin has entered into a memorandum of understanding with CoinDesk Indices to discuss building Shariah-compliant crypto benchmarks for the Middle East and North Africa markets.

Another aim of the partnership is licensing CoinDesk Indices benchmarks for exchange-traded financial products. Also, HAQQ – a blockchain focused on creating a Shariah-compliant financial system and the home of Islamic Coin – will get access to CDI's API for selected digital assets, including for its digital asset exchange.

"With the global Islamic finance market forecasted to surpass $3.69 trillion by 2024, this collaboration is poised to reshape the landscape of Shariah-compliant digital financial services," said Mohammed AlKaff AlHashmi, founder of Islamic Coin.

CoinDesk Indices is a subsidiary of CoinDesk.

Edited by Kevin Reynolds.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Stephen Alpher
Stephen Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Follow @SteveAlpher on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.