The rise of Shariah-compliant crypto projects reflects the growing demand for ethical and inclusive financial solutions that cater to Muslim communities worldwide. These projects are designed to adhere to Islamic principles, which prohibit interest-based transactions, speculation, and gambling, among other practices deemed unethical. As such, Sharia-compliant crypto assets offer an alternative investment option for Muslims seeking to align their financial activities with their faith-based values.
What is Haqq Ecosystem Fund?
Islamic Coin (ISLM) has launched a grants and investment program, providing $40 million for advancing the Haqq Blockchain and Islamic Coin through initiatives such as development, marketing, bug bounties, and other projects to enhance global adoption.
The program is part of a broader push to support projects that benefit the Islamic Coin ecosystem and the wider global community. Each investment and grant will undergo rigorous ethical and Shariah evaluations.
The $40 million grants and investment program is made up of $20 million in USD/USDT and $20 million in Islamic Coin. The funds will be channeled towards advancing the Haqq Blockchain and Islamic Coin through ethical and Shariah compliant initiatives.
Islamic Coin is an ethics-first Shariah-compliant financial ecosystem and is the world’s first currency that gives back to the world. Its native currency, the Islamic Coin, is backed by a Shariah board headed by Sheikh Dr. Nizam Mohammed Saleh Yaquby, who is known as “The Gatekeeper” of the $2 trillion market for Islamic financial products. The board also includes other distinguished members such as Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan.
The team behind Islamic Coin is committed to driving global sustainability efforts and has participated in high-profile events advocating the promotion of Sustainable Development Goals and sustainable digital finance. Furthermore, the Haqq Blockchain implements an eco-friendly proof-of-stake protocol to align with the climate action agenda.
The co-founders of Islamic Coin are Hussein Mohammed Al Meeza, Mohammed AlKaff AlHashmi, Alex Malkov, and Andrey Kuznetsov, who are actively driving Islamic Coin’s global sustainability efforts. As part of their commitment, they have participated in high-profile events such as the UN’s COP27 and the Youth International Conference.
Co-founder and Executive Board member Mohammed AlKaff AlHashmi expressed his pride in launching the initiative and said, “We look forward to many exciting proposals from our dedicated global community.”
Last year, Islamic Coin secured $200 million financing during its private sale. The $40 million grants and investment program is made up of $20 million in USD/USDT and $20 million in Islamic Coin. The funds will be channeled towards advancing the Haqq Blockchain and Islamic Coin through ethical and Shariah compliant initiatives.