Question 1

What is Islamic Coin (ISLM)?

Accepted Answer

Islamic Coin (ISLM) is a Shariah-compliant digital currency designed to create value for the global Muslim community. It operates as the native currency of the HAQQ Network, a blockchain platform that adheres to Islamic values and traditions in finance. The HAQQ Network is an ethics-first, scalable, and interoperable blockchain built on a Proof-of-Stake mechanism with fast finality. This network aims to empower the world's Muslim community with a financial instrument suitable for the digital age, promoting seamless transactions, innovation, and philanthropy​​​​​.

Question 2

What is Islamic Coin (ISLM) used for?

Accepted Answer

Islamic Coin is used to support various Shariah-compliant financial activities and services. Its features include interest-free investments, halal trading, and charitable giving. The coin and its underlying blockchain, HAQQ, combine modern fintech with Islamic heritage, thereby allowing users to engage in ethical and principled finance that respects Islamic traditions. The HAQQ blockchain's compatibility with the Ethereum Virtual Machine (EVM) and Inter-Blockchain Communication (IBC) protocols expands its usability, making it suitable for applications beyond finance, such as social platforms, games, and educational projects. The HAQQ network includes a Shariah Oracle to ensure that only Shariah-compliant smart contracts are whitelisted on the HAQQ Wallet, thus maintaining its ethical and religious alignment​​​.

Question 3

Who created Islamic Coin (ISLM)?

Accepted Answer

Islamic Coin was co-founded by Mohammed AlKaff AlHashmi.