Financial group OneGram Group from Dubai has issued a crypto currency on the virtual exchange, which corresponds to the norms of Sharia. Additional editions are expected in the coming months, the Reuters news agency reported.
The management of the company asserts that each unit of a crypto currency (token) will be guaranteed by physical gold in order to avoid speculation and fluctuations in the market. Virtual coins will be used on a platform called Huulk. Future listings will be provided at regional exchanges in Asia and the Middle East.
According to the executive director of Mohammed Ibrahim, last year, tokens with gold provision worth about $ 400 million were sold to companies that entered the sphere of Islamic finance.
Experts note that in 2017, crypto-currencies bitcoin and etherium were in great demand, but this year they showed great fluctuations. In this regard, some regulators are wary of virtual money.
Islamic representatives want to achieve economic benefits from such instruments and at the same time avoid frank financial speculation. Some experts compare the trade in crypto currency with the transfer of rights, which is considered permissible in Islam.