Muslim scholars and experts views on cryptocurrencies: a systematic literature review

Othman, Roslina and Noordin, Mohamad Fauzan and Ahmed, Mahfooz and Ahmad, Nadzrah and Kassim, Salina (2023) Muslim scholars and experts views on cryptocurrencies: a systematic literature review. Sains Insani, 8 (1). pp. 94-102. E-ISSN 0127-7871

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Abstract

Muslim scholars and experts have given their views on issues related to the permissive and prohibitive use of cryptocurrencies. Scholars and experts’ decisions were of three categories: permitted the use of cryptocurrency; prohibited its use based on Islamic principles; and tawaqquf, yet to make their final decision on the acceptance or otherwise. The main objective of this study was to systematically examine and organize the various studies and research that explored known common ideas among Muslim scholars and experts on issues related to the use of cryptocurrency in Muslim communities. This study adopted the PRISMA guideline of reporting a systematic literature review, where it identified and explored available literature in Scopus, Emerald Insight, and Google Scholar, related to Muslim scholars' and experts’ decisions on the use of cryptocurrency. With the increasing use of cryptocurrency globally, the topic has also rapidly grown among Muslim scholars and experts, which has created a need for a real conclusion and justification for the people to hold on to. The systematic literature review revealed that the Muslim scholars and experts’ views on cryptocurrencies can be sub-categorized further: permitted its use (requirements compliant, regulations, justified reasons, wide acceptance, and gold-backed), prohibited its use (speculative nature, restrictions by authorities, fewer benefits, and religious beliefs), and tawaqquf (potentials for improvement, PMBC, Islamic cryptocurrencies, and backed Dinar and Dirham crypto). The conceptual contribution of this study was that views expressed by Muslim scholars and experts on cryptocurrencies be categorized for public consumption and guide in understanding issues.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Muslim Scholars and Experts, Muslim communities, Cryptocurrencies, Literature Review, PRISMA
Subjects:	H Social Sciences > HG Finance > HG221 Bitcoin/Cryptocurrency/Block Chain Z Bibliography. Library Science. Information Resources > Z665 Library Science. Information Science
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Information and Communication Technology Kulliyyah of Information and Communication Technology Kulliyyah of Information and Communication Technology > Department of Library & Information Science Kulliyyah of Information and Communication Technology > Department of Library & Information Science
Depositing User:	Prof Datin Dr Roslina Bt Othman
Date Deposited:	26 Sep 2023 14:30
Last Modified:	26 Sep 2023 14:36
URI:	http://irep.iium.edu.my/id/eprint/107098

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