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Discover Sharlife's Crypto Screener

Sharlife Trading Signals provide insights based on a range of technical indicators and strategies. These signals help traders identify potential entry and exit points for specific cryptocurrencies, making them valuable tools for both beginners and experienced traders.

Sharlife

11 Oct 2024

Shariah Perspective on Rug Pull

Initial Coin Offerings (ICOs) have become popular for raising funds for new cryptocurrency projects. However, reports show that nearly 90% of ICOs fail, highlighting the significant risks in this space. (Emily Dean, icobench.com, 2023) But why is this happening? One common scam in the cryptocurrency world is known as the "rug pull." This happens when project creators build excitement to raise the value of their coins, only to disappear with the money, leaving investors with nothing. This article will explain the rug pull and explore its Shariah perspective

Sharlife

10 Oct 2024

Is Wash Trading Permissible?

Have you heard of wash trading? It’s a deceptive practice used by some individuals to manipulate online markets for profit. In wash trading, a person buys and sells the same asset repeatedly to themselves, creating the false appearance of high demand. This tactic is common in digital currencies and NFTs, and many are concerned about its impact on market integrity

Sharlife

08 Oct 2024

"Tap to Earn" from Shariah Perspective.

In the ever-evolving landscape of cryptocurrency, a new trend has emerged: "Tap to earn" crypto. This innovative concept has captured the attention of many in the digital currency community, promising an easy way to earn cryptocurrency through simple actions on mobile devices. While some of us may have already engaged in this activity, others might still be questioning whether it complies with Islamic principles.

Sharlife

25 Sep 2024

Shariah Perspective on Stablecoins

Stablecoins have emerged as a significant innovation in the cryptocurrency ecosystem, offering a bridge between the volatility of traditional cryptocurrencies and the stability of fiat currencies. This article explores the concept of stablecoins and examines their permissibility from an Islamic finance perspective, including the Shariah views on holding stablecoins.

Sharlife

23 Sep 2024

How Halal and Haram Crypto Partnerships Affect Shariah Compliance.

In the fast-changing world of cryptocurrency, innovations continue to emerge at a rapid pace. As the crypto ecosystem expands, we're witnessing an increasing number of partnerships and alliances within the industry. This trend of partnerships has raised important questions for Islamic investors who must adhere to Shariah principles. A particularly complex issue has come to the forefront: What happens when a halal (permissible) cryptocurrency forms a partnership or alliance with a haram (forbidden) one?

Sharlife

22 Aug 2024

Is Gaming Crypto Halal?

Gaming cryptocurrencies have emerged as a significant sector within the broader cryptocurrency ecosystem, combining the worlds of blockchain technology and video games. These digital assets are designed to facilitate in-game transactions, reward players, and create new economic models within gaming environments. However, from an Islamic perspective, several considerations must be taken into account when evaluating the permissibility of engaging with gaming cryptocurrencies.

Sharlife

20 Sep 2024

How to purify Shariah non-compliant Investments?

In today's diverse investment landscape, Muslims have access to a wide array of investment options, including stocks, cryptocurrencies, gold, and various other financial instruments. While many investors strive to maintain Shariah compliance in their portfolios, the dynamic nature of markets and companies can sometimes lead to changes in the Shariah status of investments. Additionally, investors may occasionally find themselves holding Shariah non-compliant assets due to oversight or market shifts. This article explores the concept of investment purification and guides how to address these situations from an Islamic perspective. 

Fathiyah

04 Oct 2024

Is exchange token Shariah compliant?

Recently, we have received a lot of questions regarding the status of exchange tokens. Some questioned why the status of the exchange token is Shariah compliant, even though the exchange has non-shariah compliant features like derivatives market and insurance. This is an explanation as to why we marked it as Shariah-compliant.

Sharlife

9 Aug 2024

Is Cryptocurrency Airdrop Halal?

Cryptocurrency airdrops have become a popular marketing strategy in the blockchain industry nowadays. It is a marketing strategy aimed to increase awareness, boost adoption and reward loyal users. In the evolving world of cryptocurrency, airdrops have become a popular method for distributing tokens to a large number of wallets. This marketing strategy aims to increase awareness, boost adoption, and reward loyal users. But what is the Islamic legal perspective on receiving such airdrops?

Sharlife

25 July 2024

Is Cryptocurrency Lending Halal?

Cryptocurrency lending has become increasingly prevalent in today's digital financial landscape, transforming how individuals and institutions interact with their digital assets. However, the rapid growth of crypto lending has also raised concerns, especially among Muslim investors. Questions arise regarding the compliance of these practices with Islamic financial principles. Based on recent Shariah judgements, there are important considerations for Muslims looking to participate in crypto lending while adhering to Islamic financial principles.

Sharlife

23 July 2024

Gambling Burning Mechanism in Terra Classic: Does It Affect Its Shariah Status?

We have viewed Terra Classic (LUNC) as a Shariah-compliant project since there are no activities, products, or projects conducted directly by Terra Classic that violate Shariah principles. However, the question arises as to whether the Terra Poker game and its burning mechanism would impact the Shariah status of Terra Classic (LUNC).

Sharlife

21 June 2023

Issues and Solutions of Dropshipping from a Shariah Perspective.

Dropshipping is a form of business in which the reseller/dropshipper does not own the assets or stock being sold. The reseller or dropshipper only promotes the products sold by another party and earns commissions from successful sales.

Sharlife

15 June 2023

Why is Leverage and Margin Trading Considered Haram?

Leverage or margin refers to investments made using borrowed funds. In leverage trading or margin trading, the deposited funds used as collateral can determine the amount of the loan provided to investors. By utilizing leverage, investors can increase their opportunities to invest with higher values. For example, if a leverage ratio of 1:10 is offered, it means that with US$100, you can invest up to US$1,000. However, leverage trading carries risks. For instance, when you use leverage trading for investments, not only can your profits multiply, but your losses can also multiply. In this article, the discussion focuses on the Islamic perspective on loans themselves.

Sharlife

15 June 2023

Why is Online Forex Trading Considered Haram?

Online Forex Trading has been explicitly mentioned multiple times by fatwa councils, mufti officials, and Islamic scholars as being prohibited. However, there are still many traders out there who are actively involved in online Forex trading. It differs from forex exchange or money exchangers, which are considered permissible. Forex exchange, known as Bay Sarf, involves currency exchange and is considered permissible. On the other hand, online Forex trading has been declared as haram due to several factors, which will be discussed in this article.

Sharlife

15 June 2023

Why Are Futures Contracts in Stocks/Crypto Platforms Considered Haram?

A futures contract is an agreement or contract between a buyer and a seller that allows them to agree to buy or sell an asset or commodity on a predetermined date and price. The market price of the goods or assets may be higher or lower on the promised date compared to the time of the contract. Despite price changes, the contract or agreement must still be fulfilled.

Sharlife

9 June 2023

Is Arbitrage Trading Halal?

Arbitrage trading in the context of crypto investment is one of the ways investors generate profits. It involves the act of taking benefits from the price differences on different exchange platforms. The prices of cryptocurrencies on each exchange or trading platform are not the same. This happens because the price of an asset or commodity is influenced by the "Supply and Demand Theory". It is a fundamental concept in economics that when demand increases, the price also rises. When supply is limited, the price increases as well. This applies to the world of crypto as well.

Sharlife

6 June 2023

Why is Organized Pump and Dump Haram?

Pump and Dump is an illegal and prohibited activity carried out by individuals or a group of investors. In Malaysia, the Securities Commission of Malaysia has issued warnings to investors who misuse social media platforms to spread false information about specific companies to execute pump and dump activities.

Sharlife

1 June 2023

Avoid Buying Meme Coins

Recently, we have witnessed the emergence of meme coins, such as PEPE, which have enabled investors to earn millions of dollars in profits. However, do these coins/tokens have strong fundamentals to justify their price surges? Let's explore meme coins further and examine their compatibility with Shariah principles.

Sharlife

26 May 2023

Is Crypto Bot Trading Halal?

Technological innovations have brought significant changes to the investment world, and one of the hot trends among crypto investors is crypto bot trading.

Sharlife

24 May 2023

Community Sharing as an Alternative to Takaful and Insurance

We often hear about problems that occur in the world of takaful today. Although takaful savings are said to be the best saving instruments, in 2020, the Institute of Public Health reported that 43% of respondents answered "not affordable" to the question "Reasons for not having personal health insurance and takaful". This is very concerning even though, in fact, the takaful industry has been established for over 30 years in Malaysia.

Sharlife

14 April 2023

AAOIFI: The Gateway to Islamic Financial Institutions

The Islamic finance industry is experiencing significant growth, with more and more people seeking out ethical and sustainable financial products and services that align with their values. As a result, the need for a standard-setting body has become more crucial than ever. This is where the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) comes into play.

Sharlife

23 February 2023

A Beginner's Guide to Investing in Gold as a Muslim

Gold has a long-standing tradition as a medium of exchange and store of value. Historically, gold and silver were used as fiat money, but today, government-issued currency such as the Malaysian Ringgit, Pound Sterling, and US Dollar are more commonly used.

Sharlife

20 January 2023

What is Fintech?

Financial industry has been playing significant roles in the economy. Thus, maintaining its stability is very important. A study stated that Fintech shows a positive effect in maintaining financial stability causing more people to be part of it. Mirroring the global finance industry's transformational change, the Fintech industry is undergoing rapid digitalisation. However, what exactly is Fintech?

Sharlife

23 May 2022

Does Islamic Finance relate to SDG?

Since the turn of the century, there has been a greater emphasis on sustainable development. Is the sustainable development concept foreign in Islam? Fortunately, the sustainable development concept has long existed in the Quran and the Hadith. Nevertheless, the concept itself was adopted only recently in the Islamic world. The question is, how does Islamic finance help in achieving the Sustainable Development Goals (SDGs)?

Sharlife

8 April 2022

Time Value of Money: Conventional vs Islamic

The concept of time value of money is the foundation of investment and the core fundamental principle of conventional financial theory. It is also a fundamental component of the monetary system. Islamic finance also adopts the concept of time value of money as well, however, from an Islamic perspective, the concept used in the time value of money differs from the conventional definition. What is the difference between the Islamic and conventional views on the concept of time value of money?

Sharlife

22 February 2022

Thing To Be Aware Of Before Investing In Unit Trust

Unit trusts and mutual funds are investment pools that are meant to assist investors to diversify their portfolios and grow their wealth. One of the benefits of unit trust investment is that investors gain experience investing in global stocks such as those from the United States, China, and other nations. Unit trust investments do not require investors to have a CDS account.

Sharlife

17 February 2022

The World's First Islamic Bank

The topic of Islamic banking is now being hotly debated among the netizens. Islamic banking is seen to be identical to conventional banking, and the name "Islam" is used to obscure the community. However, before we get into the system and the issues that arise in Islamic banking, did you know that Islamic banking does have a long, rich history?

Sharlife

15 February 2022

Corruption as Endemic

The issue of corruption has now become an endemic problem in the country. Corruption appears to be a norm or culture in Malaysian society, whether consciously or unconsciously. As a matter of fact, Malaysia is ranked 62 out of 180 countries in the Corruption Perceptions Index (CPI) for 2021, down five rungs compared to 2020. This decrease indicates an increase in corrupt activities in the country because the lower the position of a country (first place, for example), the less corrupt activities occur in that country.

Sharlife

10 February 2022

Zakat for Flood Victims

On the 18th of December 2021, Malaysia suffers the worst floods in 58 locations in eight states, which is expected by the Malaysian Meteorological Department (MET). Numerous organizations took immediate actions in relation to the incident. The Zakat center, one of the major associations involved, also provides assistance through the distribution of zakat to help the survival of flood victims post flood. However truthfully, flood victims are not regarded as recipients of zakat.

Sharlife

27 January 2022

Halal Affiliate Marketing

When the world was hit by a pandemic Covid-19 and the country went into lockdown, everyone was trapped inside the house. However, not everything is bad; this also has resulted in a positive impact and improvement in the online industry. There has been an increase in online activity such as through social media because the virtual world is the only link to interact with people and the outside world.

Sharlife

25 January 2022

Why is Credit Card Permissible in Islam?

Credit cards are often associated as the cause of massive debt burdens that people find themselves in. The debt burden from the credit cards is not the only cause, but the high interest rates they carry are, and these transactions contain the element of riba. Muslims are prohibited from engaging in any transaction that contains an element of riba because riba is haram. But, did you know that Islamic financial institutions also issue Islamic credit cards? How can this credit card become Islamic?

Sharlife

17 January 2022

The Issues in Bay' Bithaman Ajil (BBA) Contract

Bay' Bithaman Ajil (BBA) contract used to be the most popular financing contract in all Islamic banks in Malaysia for home financing products. However, it is often argued by the academicians that the BBA practiced is not a true BBA under the BBA principles, but rather it is a Bay' al-Inah (sell and buyback) in character which is contrary to a valid Islamic contract. Here we will discuss more of the issues that arose on the application of Bay' Bithaman Ajil Home Financing.

Sharlife

10 January 2022

The Hype of NFT: Shariah Perspectives

We already heard the hype about cryptocurrencies and blockchain technologies that have been in the spotlight in recent years. It's a sign that the Blockchain ecosystem has been accepted by many people, just look at the volatility of the cryptocurrencies market. Many innovations and new features are rapidly introduced by developers to make this whole ecosystem useful for our daily financial activities. One of those unique innovations is Non-Fungible Token or NFT.

Sharlife

14 December 2021

Introducing SharLife, a One-Stop Centre for Islamic Finance

Introducing SharLife, a platform that compares Shariah-compliant financial products with the mission to assist consumers by providing the relevant information on products and services offered by Islamic Financial Institutions in Malaysia. Among the features offered are comparison tools for financing and takaful products, Debt Service Ratio (DSR) calculator and many other features. Let's go over some of the features provided by SharLife.

Sharlife

14 December 2021

Do We Understand Riba?

The word Riba is often mentioned by many Asatizah in their speech so that we do not get involved in it. Sometimes it is mentioned in dua' so that we are kept away from doing it. But our society needs a clear understanding of Riba, especially the Muslims to avoid being misleading about Riba. Some people define Riba as taking too much profit in trading. Is this what is meant by Riba? What exactly is the meaning of Riba mentioned by Allah in the Quran?

Sharlife

17 November 2021

Why Ar-Rahnu Changed from Qard to Tawarruq?

At its 194th meeting on 25 June 2019 and its 195th meeting on 31 July 2019, the Shariah Advisory Council (SAC) of Bank Negara Malaysia (BNM) resolved that the ar-rahnu product structure through the combination of qard (loan), rahn (pledge), wadi`ah (safekeeping) and ujrah (fee) offered by Islamic financial institutions (IFIs) in Malaysia does not fulfil the Shariah requirements in Rahn Policy Document.

Sharlife

17 November 2021

Crypto & Blockchain According to Shariah Perspectives

The whole world right now has been very excited about a new blockchain technology that has been implemented over 13 years ago. Every single person involved directly or indirectly in this industry talks about how this technology can change the whole current finance system. But for Muslims, the question that remains until now is can we be involved in this technology, either invest, trade, or for daily transactions?

Sharlife

5 November 2021

Are Condom Stocks Shariah Compliant?

Among the Shariah-compliant stocks in the May 2021 edition, there are companies that carry out the production and sale of condoms, products used in family planning plans. Here we will explain the reasons why companies that run condom businesses are categorized as Shariah-compliant stocks.

Sharlife

1 November 2021