KARACHI: Following recent media reports and renewed public debate regarding the Shariah status of crypto currency, an emergency meeting was convened at the Saylani Welfare International Trust’s head office.
The meeting was chaired by Saylani’s Founder and Chairman, Maulana Muhammad Bashir Farooq Qadri.
The meeting was attended by leading block chain experts and Saylani’s Head Mufti, Mufti Wasim Akhtar Al-Madani. Participants reviewed the ongoing debate over whether crypto currency is permissible or impermissible under Islamic law and maintained that declaring crypto currency categorically impermissible would not be appropriate without a comprehensive juristic and technical assessment.
Saylani’s Dar-ul-Ifta, under the supervision of Mufti Wasim Akhtar Al-Madani, conducted extensive research into the subject in the light of the Holy Quran, Hadith and the jurisprudential teachings of Imam Ahmad Raza Khan, commonly known as Ala Hazrat Fazil-e-Barelvi.
On the basis of this research, a detailed 37-page fatwa was issued approximately 13 months ago, declaring transactions involving crypto currency permissible under specified conditions.
Addressing the meeting, Maulana Muhammad Bashir Farooq Qadri said that leading block chain specialists and Mufti Wasim Akhtar Al-Madani were present to reassess the matter from both technical and religious perspectives.
Citing the fatwa, Mufti Wasim Akhtar Al-Madani stated:
“The purchase and sale of crypto currency or digital assets may be considered permissible as a recognized right, provided that such transactions are not prohibited by the law of the country and do not expose an individual to unlawful humiliation, punishment or legal consequences.”
He explained that digital units or assets remain under the exclusive ownership and control of their lawful holder, and no other person can interfere with or exercise authority over them without permission.
“Under the juristic definition of a recognized right, this principle fully applies to crypto currency. Imam Ahmad Raza Khan explained this concept in considerable detail. Therefore, when crypto currency is established as a legally recognized and controllable right, its purchase and sale may also be regarded as permissible under Shariah,” he said.
The fatwa further states that crypto currency may be bought and sold in countries where such transactions are not prohibited by law.
According to the meeting, scholars who have declared crypto currency impermissible have generally classified it strictly as conventional property or wealth. However, the Saylani fatwa examines crypto currency as a digital right or asset over which the owner exercises exclusive possession and control.
The meeting also observed that the possibility of crypto currency being used for illegal activities does not, by itself, make every crypto currency transaction impermissible under Islamic jurisprudence. The relevant consideration is whether it’s predominant and intended use is lawful and whether a particular transaction involves fraud, gambling, interest, deception, money laundering or any other activity prohibited by Shariah or national law.
Maulana Bashir Farooq Qadri said that Saylani had forwarded the detailed fatwa to the Council of Islamic Ideology, the State Bank of Pakistan and the relevant federal ministry.
“We have requested the government to invite scholars who consider crypto currency impermissible, along with our Head Mufti and representatives of all major schools of Islamic thought, so that the matter may be examined comprehensively before a final national policy is formulated,” he said.
He added that Saylani supports the policies and laws of the State and would abide by the government’s final decision.
“Several countries are already conducting transactions involving digital assets, and Pakistan has also begun taking steps in this direction. Whatever decision the government reaches after consultation with religious scholars, legal experts, regulators and technology professionals, Saylani will stand with the State,” Maulana Bashir Farooq Qadri said.
Copyright Business Recorder, 2026
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