Advice on Electronic Currencies

Answered by Sayyidi Habib Umar bin Hafiz (may Allah protect him and benefit us by him)

  • What do you say about investing in electronic currencies?

These are one of the tricks and ploys that have been used to delude people who are hoping to make some money. They have no basis in the Sacred Law and the end result in investing in these currencies will not be good.

  • I have already invested in these currencies. What should I do?

You should stop investing in them and you should give the money you have made to Muslims in need. If you have relatives who are in dire need then give it to them and if not send it to Muslims who are suffering from catastrophes across the world. Alternatively, you can donate it to a project which is of general benefit to society.