Is Ethereum compatible in Islamic finance?
Duration: 00:22:00
Speaker: Wan Hafizi Wan Halim, Mohd Daud Bakar
Type: Talk
Expertise: Beginner
Event: Devcon
Date: Jul 2026
Islamic finance works in a specific framework and guideline laid out by Shariah, which in brief is a divine law of Islam. Since the emergence of Bitcoin to the lime light becoming the buzz word of almost everyone a few years ago, much have been said and debated in the Islamic finance community whether or not it is permissible to deal with, whether it is halal etc. Blockchain has evolved a lot since then, with Ethereum now becoming the leading platform for the smart contract development. However, due to the complexity of the blockchain and cryptography concept, and also perhaps negative perception towards Bitcoin which previously was commonly associated with the excessive speculation activity in the market, there has not been much attempt by the Islamic finance community to tackle this subject in a serious manner. The Muslim community at large is still shrouded by ambiguity and uncertainty on the topic, and therefore one of the cause for the lack of participation and contribution by the Islamic finance community in the development of blockchain and smart contract application thus far. This presentation attempts to provide some insights and clarifications on the subject.
