Global crypto exchanges binance You have launched the first Islamic financial product from the Islamic Awards (Erania Earn), a Staging Service Service that is compatible with Islamic law by consulting firms. Amanie Consultant.

The platform is designed to comply with Islamic principles such as RIBA and excessive uncertainty (Gharar), allowing users in certain markets to earn passive income from digital assets such as BNB, ETH and SOL.

The move opens a new avenue for faith-based investors seeking to enter the crypto market and marks Binance’s broader establishment of value-driven financial products.

Richard Teng, “Our mission has always been to build a uniform, transparent deal jealousy. With this product, we are empowering the Muslim community and Islamic investors to participate in one of the most inspired financial revolutions of the time. It is a movement towards a more principled and equitable digital economy that promotes financial freedom for all.”

The spotlight of Sharia

The Islamic Earn brings together elements of Islamic finance and blockchain-based dentin finance. Although decentralized finance tries to replace the mean technology of traditional intermediaries, Islamic finance operates under religious principles such as sharing risks, moral investments, and the prohibition of interest (RIBA) (RIBA) and excessive uncertainty (Gharar) (Gharar).

The product has been certified to be Sharia compliance by Islamic financial consulting firm Amaanie Advisors. According to Binance, using user funds to businesses and assets is considered a structure of assets that are halal or thoroughly pursuing under Islamic law.

The Islamic teachings (Earlia Eart) will initially be in a wide variety of markets, Saudi Arabia, Indonesia, Egypt, Pakistan, the United Arab Emirates, and two other countries in the Middle East, South Asia and North Africa.

The service is based on existing Binance earning products, BNB lock-in products, ETH Staking and SOL Staking. Islamic scholars have reviewed Islamic teaching scholars based on the Vakara Agreement framework that defines the role of the platform and the user according to the Islanliic contract principles.