Stellar Became the First Blockchain that Complied With the “Sharia Law”

stellar received sharia license

As we mentioned in our article about the first authentic Arabic cryptocurrency (Dubaicoin), the countries of the Middle East were one of the last ones to consider such innovative technologies as blockchain and digital coins.

The thing is, that the citizens of these countries are muslim, which means that all spheres of their life are controlled by religion. All inventions are carefully examined and approved only if they comply with the so-called “Sharia law”.

Stellar which is a blockchain-based network payment platform was inspected by an agency specializing in providing official certificates for companies and projects that meet the “Sharia law” requirements. The agency found Stellar applicable for the certificate. The post about this appeared on the Twitter account of the platform.

According to the post on the official site of Stellar:

The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.

Stellar’s representatives view the certificate as an important step in the development and expansion of their platform, since now it is available for thousands of new customers from Islamic countries.

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