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Senior religious scholar Mufti Muneeb-ur-Rehman has said that he has not issued a final religious ruling declaring cryptocurrency either permissible or prohibited, adding that the subject requires careful Shariah assessment.
Speaking during a recent interview, Mufti Muneeb said Muslims should invest only in businesses and financial activities that comply with Islamic principles. He stressed that investments linked to alcohol, gambling, narcotics and other prohibited sectors should be avoided.
He also commented on gold trading, saying that certain forms of gold trading practiced today are not in line with Islamic teachings.
While discussing digital assets, Mufti Muneeb explained that modern financial systems have become increasingly complex, making it necessary for Islamic scholars to examine new investment products through detailed Shariah screening before giving religious guidance.
His remarks come as Pakistan continues to debate the future of cryptocurrency regulation. Earlier, renowned Islamic scholar Mufti Muhammad Taqi Usmani issued a detailed fatwa stating that cryptocurrencies, in their current form, do not meet the Shariah definition of wealth and therefore should not be traded or used as a means of payment.
Following that opinion, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib met Mufti Taqi Usmani and argued that not all blockchain-based digital assets should be viewed in the same way. He said different digital assets should be assessed individually from both technical and Shariah perspectives.
With scholars and regulators continuing to discuss the issue, the religious and legal status of cryptocurrency in Pakistan remains under debate, and no unified position has yet been adopted.
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