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A Critical Analysis of Bitcoin from an Islamic Legal Perspective

In: Fintech, Digital Currency and the Future of Islamic Finance

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  • Farrukh Habib

    (Alif Technologies)

Abstract

The objective of this chapter is to critically analyze Bitcoin from an Islamic jurisprudential perspective in a systematic way. Due to the novelty of the underlying conceptual idea of Bitcoin, and cryptocurrencies in general, it has posed a great challenge for the contemporary shariah (Islamic law) scholars warranting a strong ijtihadi (jurisprudential analogy) aptitude. This chapter endeavors to fill this gap and aims to provide a reliable reference point on the issue. To achieve the above objective, the chapter will conduct a comprehensive investigation of the classical sources of sharia as well as a meticulous examination of the contemporary resolutions and fatwas (Islamic verdicts) which is descriptive.

Suggested Citation

  • Farrukh Habib, 2021. "A Critical Analysis of Bitcoin from an Islamic Legal Perspective," Springer Books, in: Nafis Alam & Syed Nazim Ali (ed.), Fintech, Digital Currency and the Future of Islamic Finance, edition 1, chapter 0, pages 9-29, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-49248-9_2
    DOI: 10.1007/978-3-030-49248-9_2
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