In recent months, the problem of conforming the Shariah financial system with digital currencies has found a solution that suits everyone – at least, that’s what growing support for the Islamic Coin project from major public figures in the Muslim world seems to show.
The latest addition to the already impressive digital currency advisory board is UAE Naval Chief Rear Admiral Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, a military hero and a highly respected and influential public figure in the United Arab Emirates. He has joined the Swiss non-profit HAQQ Association to support Islamic Coin as a private individual.
Islamic Coin: Getting Public Support
Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan is not the only prominent figure who has joined the Islamic Coin advisory even in recent weeks. Sheikh Hazza bin Zayed Al Nahyan, the grandson of the first president of UAE, Sheikh Zayed bin Sultan Al Nahyan, has also entered the crypto world as a top advisor to Islamic Coin.
“It is a great pleasure to join such a diverse and focused team and work together on bringing unique and life-changing solutions to the Muslim world and beyond,” he commented.
The Islamic Coin Advisory Board also includes Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan, Sheikh Khalifa Bin Mohammed bin Khalid Al Nahyan, and His Highness Sheikh Juma bin Maktoum Al Maktoum.
Bringing value to Islamic finance
Islamic Coin aims to create an ethics-first, Shariah-compliant financial ecosystem. Its mission is to give the world’s Muslim community a financial instrument for the Digital Age, enabling seamless transactions and interaction while helping to promote innovation and philanthropy. 10% of each issuance is deposited into the Evergreen DAO and invested in Islam-related ventures or donated to Muslim charities.
Potentially, all of the world’s Islamic internet user population of 1.1 billion could become customers of Islamic Coin — and the plans of founders are to reach out as widely as possible. Islamic Coin’s community has recently broken the 100,000 users threshold, and is getting more and more support from top figures in traditional and Islamic finance.
Executive and Shariah boards
Besides the Advisory Board members listed above, the project features Khamis Buharoon AI Shamsi, the former Assistant Director of the Finance Division, and Assistant Director of the Internal Audit Division of the Central Bank of the UAE, on its Executive Board. Another prominent figure is Hussein Al Meeza, an award-winning banker with over 45 years of experience in the Islamic banking, finance, and insurance sectors. Greg Gigliotti, CEO, Chief Investment Officer and Founding Partner of Xtellus Advisors has also recently joined the initiative.
Islamic Coin’s Shariah Board is led by Sheikh Dr. Nizam Mohammed Saleh Yaquby, recognized by Bloomberg as ‘The Gatekeeper’ of a $2 trillion market for Islamic financial products.
With the impressive (and increasing) support from both end users and public figures, it seems like Islamic Coin is soon to establish itself as the leading player in the emerging Shariah-compliant virtual currency financial ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.