Binance launches Sharia Earn, an Islamic banking-aligned token
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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
The token is launching with Binance Coin, ethereum, and Solana, and has been Sharia-certified by Sharia advisory firm Amanie Advisors.
Targeting the untapped $4 trillion Islamic finance market, Sharia Earn will allow Muslims to participate in the decentralised finance movement without concern for how it conflicts with Islamic banking principles.
Richard Teng, CEO of Binance, stated, 'Our mission has always been to create an inclusive and transparent trading environment. With this product we're empowering the Muslim community and Sharia focused investors to participate in one of the most exciting financial revolutions of our time. This is more than a product – it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all.'
Sharia Earn will be available for users in the following countries:
Afghanistan
Algeria
Bangladesh
Bhutan
Egypt
Indonesia
Iraq
Jordan
Kuwait
Lebanon
Libya
Maldives
Morocco
Nepal
Oman
India
Pakistan
Palestinian territories
Qatar,
Saudi Arabia
Sri Lanka
Sudan
Tunisia
Turkey
UAE
Yemen
Uzbekistan
Kyrgyzstan
Turkmenistan
Azerbaijan
Tajikistan
In June this year, Binance announced an AI-powered app interface titled Binance UI Refined.
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