Muslims avoid any investment that has the suspicion of usury to ensure blessings in their wealth and to please God, and from this point, I will talk about halal and haram investments on the platform.
Does the word "Interest" mean that it is haram?
In Arabic trading applications like Binance, the term "Interest" is sometimes used as a general translation for all types of returns, but the legal ruling depends on the source of the money and not just on the name.
In the case of BNSOL: this "interest" is actually staking rewards resulting from participating your coins in validating transactions on the Solana network.
Accumulation: This means that the profits you earn are automatically added to your capital to start producing new profits, which is known as "compound interest."
Sharia compliance: falls under the classification of "Binance Sharia Earn" and is certified by a Sharia supervisory authority. Therefore, the term "accumulated interest" here is a technical translation of a halal investment return resulting from the network's operation, not usury resulting from a loan.
This means any return resulting from securing a halal network, while other benefits are prohibited.
All currencies must be transferred except bnsol from the Eran profit wallet to avoid producing usurious benefits, as any loan that incurs interest is considered usury. The remaining halal investments involve buying and selling by yourself or through a reliable person who follows Islamic methods, therefore it is essential to avoid anything that may involve usury, such as bots and copy trading, as well as futures contracts based on betting.
