Digital currency is not a fictitious currency. It is a reality, said an eminent scholar of Islamic law Mufti Irshad Ahmad Ijaz while addressing a seminar on “Technical and Shariah Status of Digital Crypto Currency” organised by the Department of Usool Uddin of the University Karachi and Al-Asr Foundation at the University of Karachi.
“In my personal opinion digital currency should be justified under certain conditions and the government should play a positive role in this regard so that the confusion of the youth could be removed,” said Mufti Ijaz. T
The Bank Islami Shariah Advisory Board Chairman Mufit Ijaz observed that the level of research is always above the level of law so scholars should continue to present their research on their respective subjects.
Dr Ishaq Alam of the department said the scholars should realise the new problems of the digital society so that the people can be guided by Shariah.
Meanwhile, Mufti Owais Paracha, a crypto expert, said that cryptocurrency originated with bitcoin, which was developed in 2009 by, Satoshi Nakamoto. He shared that Nakamoto made it invincible by incorporating cryptography and the techniques of previous currencies.
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