$BTC 💡 What makes Binance Sharia Earn in the field of Crypto Staking closer to halal?
The world of digital currencies is witnessing increasing interest from Muslims around the world, but this interest is accompanied by precise legal questions regarding ways to achieve returns. The main legal concerns revolve around three major prohibitions:
- ❌ Riba: Earning guaranteed interest on money over time.
- ⚠️ Gharar: uncertainty or excessive risk.
- 🎲 Gambling: transactions of a gambling nature.
Based on these issues, the Binance platform introduced the Sharia Earn service, which aims to provide an investment mechanism compliant with Islamic law, allowing users to benefit from Staking rewards in a way closer to what is permissible.
🧾 First: The legal structure — Agency contract (Wakālah)
In the Sharia Earn service, the user does not lend their money to the platform for a fixed interest, but appoints Binance as an agent (Wakeel) to invest the digital assets in specific protocols with the aim of generating returns on their behalf.
- The contract format is an agency and not a loan.
- Returns are not guaranteed and depend on the actual performance of the network.
🔑 Summary: This removes the product from the suspicion of usury, as it does not rely on interest for time, but rather on investment through agency.
💰 Second: Source of returns — A real service with no interests
The realized returns come from:
- Network transaction fees paid by users.
- Rewards for validators for securing the network and validating transactions.
📌 Result: The return here represents a compensation for real work (ʿiwad) and bearing of technical risks, not interest resulting from a loan.
🛡️ Third: Sharia controls — The 5% limit and continuous monitoring:
The service includes a quarterly Sharia review system aimed at:
- Verifying that transactions related to returns are free from prohibited activities.
- Ensuring that the exposure to these activities (such as gambling, fraud, usurious loans) does not exceed 5%.
📎 This percentage is derived from Sharia compliance standards in Islamic finance, where a small percentage of non-permissible income is allowed, provided it is purified (donated for good causes).
🧑⚖️ Fourth: Independent legal supervision:
Binance relied on Amanie Advisors led by Sheikh Dr. Mohamed Dawood Baker to evaluate the service and grant it a Sharia compliance certificate.
✅ This enhances the credibility of the product and provides the user with a reliable reference, while the responsibility for seeking legal opinion remains with the individual.
📦 Fifth: Currently included products:
The Sharia Earn service currently includes:
- BNB through closed Simple Earn products.
- ETH (Ethereum) through the Staking service.
- SOL (Solana) through Staking.
📍 The availability of these products may vary by country.
🔍 Sixth: Differences from traditional products
- Returns are not guaranteed and depend on network activity.
- The source is legitimate: a service for verifying and securing the network, not lending for interest.
- Regular legal supervision, with an allowance percentage (5%) and a purification mechanism.
🧭 Practical recommendations for Muslim investors:
- 📖 Read the terms and conditions of Sharia Earn carefully.
- 🌐 Follow the official page to know the available assets in your country.
- 🧕 Consult a trusted Sharia scholar, especially regarding the 5% limit and the purification policy.
- ⚠️ Be aware that investment risks (such as price volatility or technical issues) remain.
✅ Summary:
The Binance Sharia Earn service aims to provide an Islamic alternative for investing in digital currencies through:
- Legal agency format.
- Linking returns to network services.
- Periodic Sharia monitoring.
- Supervision by an independent advisory body.
Thus, this service represents a model closer to what is permissible.
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