Latest news with #AmanieAdvisors
Gulf Insider
22-07-2025
- Business
- Gulf Insider
Binance Launches Sharia-compliant Cryptocurrency Staking
Binance has launched Sharia Earn, the world's first multi-token staking service that complies with Islamic finance principles. The cryptocurrency exchange has received certification from Amanie Advisors, a recognised Sharia advisory firm, for the product. The service addresses a market gap in the $4 trillion Islamic finance sector, where millions of Muslims have been unable to participate in decentralised finance due to religious compliance concerns. Sharia Earn enables users to earn passive income from cryptocurrency investments whilst adhering to Islamic law. The platform launches with support for BNB, ETH, and SOL tokens. Users can earn yield through staking mechanisms that have been reviewed by Sharia scholars and approved under Islamic finance principles. Richard Teng, CEO of Binance, said: '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.' The service operates under Islamic finance guidelines that include risk sharing, wealth circulation, prohibition of interest (riba) and excessive uncertainty (gharar). Amanie Advisors has certified that all funds deployed through the platform are channelled into ventures and assets that are halal (permissible) under Islamic law. Binance has built the service using technology from its existing BNB Locked Products, ETH Staking and SOL Staking infrastructure. The mechanics of each staking method have been reviewed by Sharia scholars and operate through a Wakala agreement structure. Sharia Earn will initially be available in 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 (.com), United Arab Emirates, Yemen, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, and Tajikistan. This marks Binance's first entry into Islamic finance products and represents the convergence of blockchain technology with Islamic banking principles. The platform aims to provide transparency and halal compliance for cryptocurrency investments in Muslim-majority markets. Also read: Kuwait Bans Cryptocurrency Mining
Arabian Business
21-07-2025
- Business
- Arabian Business
Binance launches world's first Sharia-compliant multi-token cryptocurrency staking platform
Binance has launched Sharia Earn, the world's first multi-token staking service that complies with Islamic finance principles. The cryptocurrency exchange has received certification from Amanie Advisors, a recognised Sharia advisory firm, for the product. The service addresses a market gap in the $4 trillion Islamic finance sector, where millions of Muslims have been unable to participate in decentralised finance due to religious compliance concerns. Binance bridges crypto and Islamic finance gap Sharia Earn enables users to earn passive income from cryptocurrency investments whilst adhering to Islamic law. The platform launches with support for BNB, ETH, and SOL tokens. Users can earn yield through staking mechanisms that have been reviewed by Sharia scholars and approved under Islamic finance principles. Richard Teng, CEO of Binance, said: '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.' The service operates under Islamic finance guidelines that include risk sharing, wealth circulation, prohibition of interest (riba) and excessive uncertainty (gharar). Amanie Advisors has certified that all funds deployed through the platform are channelled into ventures and assets that are halal (permissible) under Islamic law. Binance has built the service using technology from its existing BNB Locked Products, ETH Staking and SOL Staking infrastructure. The mechanics of each staking method have been reviewed by Sharia scholars and operate through a Wakala agreement structure. Sharia Earn will initially be available in 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 (.com), United Arab Emirates, Yemen, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, and Tajikistan. This marks Binance's first entry into Islamic finance products and represents the convergence of blockchain technology with Islamic banking principles. The platform aims to provide transparency and halal compliance for cryptocurrency investments in Muslim-majority markets.
Al Etihad
20-07-2025
- Business
- Al Etihad
Binance's Sharia Earn marks a big milestone in Islamic and crypto finance
20 July 2025 14:39 A. SREENIVASA REDDY (ABU DHABI) Binance, the world's largest cryptocurrency exchange by trading volume, has launched Sharia Earn, the world's first Shariah-compliant multi-token staking solution—marking a major milestone in expanding ethical crypto investing for the global Muslim product, now live on the Binance platform, has been certified as fully compliant with Islamic finance principles by Amanie Advisors, a globally recognised Shariah advisory certification, signed by leading Islamic finance scholar Dr. Mohd Daud Bakar, confirms that the structure of Sharia Earn adheres to key tenets of Islamic jurisprudence, including the prohibition of interest (riba), excessive uncertainty (gharar), and involvement in non-halal industries such as alcohol, gambling, and adult content. In a statement published on its website, Binance said the launch underscores its commitment to financial inclusion and innovation aligned with ethical launch marks Binance's first foray into the Islamic finance space, and it comes at a time when interest in halal investing is growing. The Islamic finance sector is estimated to exceed $4 trillion globally, yet much of the Muslim community has remained hesitant to enter the decentralised finance (DeFi) space due to concerns over Shariah Earn operates under a Wakala structure, a Shariah-compliant agency agreement, whereby Binance acts as a representative (wakeel) for users and manages their assets for the purpose of generating halal digital assets and protocols deemed compliant by Shariah scholars are included. Binance noted that all protocols are subject to rigorous screening and ongoing monitoring to ensure continued alignment with Islamic Sharia Earn supports staking in three major crypto assets: Binance Coin (BNB), Ethereum (ETH), and Solana (SOL).Users who stake ETH and SOL will receive tokenised versions—WBETH and BNSOL, respectively—whose values increase over time to reflect the staking rewards generated on-chain. These wrapped tokens can be redeemed at any time for the equivalent underlying BNB staking, users receive daily rewards deposited directly into their spot wallets. Unlike simply purchasing and holding crypto tokens, staking involves locking up these assets on the blockchain to support network operations—such as transaction validation—while earning rewards in generated through Sharia Earn are derived from halal staking activities on blockchain networks. To reflect Islamic finance norms, Binance uses the term 'Rate of Return' (ROR) instead of Annual Percentage Rate (APR) when presenting expected returns, which are benchmarked against market-based staking rates and reviewed by qualified Shariah scholars.'This is more than a product – it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all,' said Richard Teng, CEO of Binance. 'With this product we're empowering the Muslim community and Shariah-focused investors to participate in one of the most exciting financial revolutions of our time.'Samer Mardini, Chief Investment Officer at a family office in Dubai, welcomed the initiative. 'It is a great and much needed innovation that finally gives Muslim investors a meaningful way to engage with the crypto space without compromising their beliefs,' he said. 'The adoption of the Wakāla (agency) structure is consistent with classical Islamic financial principles, offering a framework that facilitates halal participation in crypto-based returns.'Mardini added that while the present certification is a strong step forward, 'further endorsement from standard-setting bodies such as the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) would add significant weight and global credibility.' He noted that AAOIFI's widely recognised standards would enhance institutional confidence and help standardise Shariah-compliant crypto this sentiment, Irina Heaver, Dubai-based crypto lawyer and founder of said: 'Muslims have hesitated to enter crypto or DeFi space due to faith-related uncertainty. Binance's Sharia Earn product—backed by respected Islamic scholars—is a brilliant move that shows respect for local values while opening access to DeFi in a compliant, inclusive way.'Heaver also underlined the strategic significance of the launch for the UAE's ambitions: 'Binance, headquartered in Dubai, understands this deeply—both culturally and commercially. By launching Sharia Earn, they didn't just seize a market opportunity—they aligned with the UAE's broader vision. It's a smart, strategic move that supports ethical finance, financial inclusion, and cements Dubai's position as a global Islamic fintech hub.'According to Binance, the product is initially available in over 35 countries, including key Islamic finance markets such as the UAE, Saudi Arabia, Egypt, Pakistan, Indonesia, Turkey, and several Central and South Asian nations. The exchange also confirmed plans to extend availability to additional jurisdictions in the near said the introduction of Sharia Earn is part of a broader effort to build an inclusive, values-based digital finance ecosystem that empowers users of all faiths. 'Every component—from reward generation to asset selection—has been carefully tailored to remain compliant with Islamic principles,' the company stated.'Whether driven by faith or a desire for ethical crypto growth, Sharia Earn provides a trusted and transparent gateway into digital finance.' (Disclaimer: The article does not constitute financial advice. Readers should consult a licensed professional before making investment decisions) Source: Aletihad - Abu Dhabi
Yahoo
12-07-2025
- Business
- Yahoo
Binance taps $4T market with first-ever Sharia-compliant staking service
Binance taps $4T market with first-ever Sharia-compliant staking service originally appeared on TheStreet. In a major expansion move, Binance has introduced Sharia Earn, the world's first Sharia-compliant crypto staking service. The platform, certified by Amanie Advisors, is hoping to soothe the years-long Islamic quandary regarding the compatibility of interest-free finance and the realm of decentralized assets. The multi-token crypto staking service taps into the growing interest in halal financial products among the world's 1.9 billion Muslims. Although the Islamic finance sector is worth over $4 trillion, most of the community has been sitting on the sidelines of crypto due to the potential for riba (interest), gharar (uncertainty), and asset authenticity. Binance's Sharia Earn is a direct response to this trend. The offering enables individuals in over 30 countries, including Indonesia, Saudi Arabia, Pakistan, and Egypt, to earn returns on BNB, ETH, and SOL through staking products designed to adhere to Islamic halal rules and ethics. It operates based on the Wakala contract, a Sharia-approved contractual structure that ensures revenue generation remains halal. Richard Teng, CEO of Binance, said the launch "empowers the Muslim community and Sharia-focused investors to participate in one of the most exciting financial revolutions of our time." What makes Sharia Earn notable isn't only religious compliance — it's the institutional-grade design and tech stack behind it. Based on Binance Earn's underlying staking infrastructure, the solution utilizes an established mechanism while utilizing a clear filter for halal eligibility. It's also a test of how DeFi platforms can localize offerings without sacrificing decentralization or yield potential. As crypto adoption accelerates in the developing world, products such as Sharia Earn may be essential tools in increasing financial inclusivity, not just through technology but by respecting cultural and even spiritual frameworks that mainstream finance sometimes ignores. Binance taps $4T market with first-ever Sharia-compliant staking service first appeared on TheStreet on Jul 11, 2025 This story was originally reported by TheStreet on Jul 11, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
11-07-2025
- Business
- Finextra
Binance launches Sharia Earn, an Islamic banking-aligned token
Global blockchain platform Binance has launched a Sharia-compliant multi-token in alignment with Islamic principles to promote inclusivity in crypto-trading. 0 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.
