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Layusmen

Ripple (XRP) will Edge over Stellar (XLM) in Middle-East, Despite Not Sharia-Compliant

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1 hour ago, Layusmen said:

As a muslim, who as researched “shariah” based banking services, I can tell you being “shariah compliant” is a load of tosh!

Contrary to many beliefs, shariah law is not actually a thing. There is no such book of laws that all muslims follow. Islamic jurisprudence is based on the opinions and interpretation of the Quran and sayings of the Prophet Muhammad. It logically follows that there are many differing views on what consists of as “shariah complient.” 

There is also no authoritative central body that certifies a financial service as Shariah complient. If I wanted to label ripple as shariah complient tomorrow, there is nothing, religiously or legally stopping me from doing so. I just have to find an imam who can back me up with a round about interpretation of a single verse of prophetic saying.

And that’s all I read when I see ‘shariah complient.’ A bunch of money thrown at a group of imams to give a religious fatwa that doesn’t hold any real weight at all. 

 

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3 minutes ago, Qasim_786 said:

As a muslim, who as researched “shariah” based banking services, I can tell you being “shariah compliant” is a load of tosh

Thanks a lot for clarifying the matter with a competent view!

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