Digital currency and fiqh muasarah: exploring cryptocurrencies in Islamic finance / Amirah Elyana Shamsuddin … [et al.]

Shamsuddin, Amirah Elyana and Yusri, Atikah Nabilah and Abdul Moin, Nur Asyiqin and Mohamed Shaiful Azam, Nur Fatini and Sabri, Nur Huda Syazana (2023) Digital currency and fiqh muasarah: exploring cryptocurrencies in Islamic finance / Amirah Elyana Shamsuddin … [et al.]. [Student Project] (Unpublished)

Abstract

In recent times, cryptocurrencies have gained popularity and are employed for a variety of reasons. Instead of being used as a substitute for cash or as a means of commerce, people invest in Bitcoin and other cryptocurrencies for speculative purposes. Understanding how technology influences a monetary system through block chain, which leads to an overhaul of the global monetary system, is essential to comprehending cryptocurrencies and the digitization of money. Furthermore, online payments using digital currency started to gain popularity. The purpose of this currency's creation was to facilitate and secure payments. Transaction expenses arc reduced when blockchain technology is used. Because cryptocurrency transactions negatively affect Indonesia's financial system, monetary stability, and payment system, the government, through Bank Indonesia, has implemented a policy prohibiting them. Cryptocurrency is the advancement of financial technology that enables it to take the role of paper money in future financial transactions. In order to create laws that are compliant with the relevant legal order, it is hoped that in the future, the government and other stakeholders will take a deeper interest in the presence of bitcoin technology (Abd. Majid, M.S.,2021).

Metadata

Item Type: Student Project
Creators:
Creators
Email / ID Num.
Shamsuddin, Amirah Elyana
2021454836
Yusri, Atikah Nabilah
2021619358
Abdul Moin, Nur Asyiqin
2021899826
Mohamed Shaiful Azam, Nur Fatini
2021454974
Sabri, Nur Huda Syazana
2021462186
Contributors:
Contribution
Name
Email / ID Num.
Advisor
Mustapha, Ahmad Murshidi
UNSPECIFIED
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islam and economics
B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Study and teaching. Research
H Social Sciences > HF Commerce > Electronic commerce
Divisions: Universiti Teknologi MARA, Kelantan > Machang Campus > Academy of Contemporary Islamic Studies (ACIS)
Programme: IMU 550: Fiqh Mu'asarah
Keywords: Cryptocurrency, Bitcoin, digital currency, technology. Fiqh Muasarah, commerce, study
Date: 2023
URI: https://ir.uitm.edu.my/id/eprint/115285
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