Haqq Association showcases its expertise with Shariah-compliant cryptocurrency IslamicCoin at GITEX Technology Week


Dubai, UAE: The Haqq Association, specialized in digital financial services that comply with Islamic Shariah law, will participate in the activities of the 42nd edition of GITEX. The Haqq Association will exhibit the “Haqq Platform” through which they issued the “Islamic Currency” that complies with the provisions and laws of Islamic Sharia.

Mohammed AlHashmi, Co-Founder and CBO of the Haqq Association, said: “GITEX Technology Week 2022 is more focused than ever on exploring the prospects of digital financial solutions for the public, because there is still some apprehension among ordinary people towards adoption. and use. of cryptocurrencies. Hence, our participation this year in GITEX is a guarantee that there is a financial technology that has business rules that move according to mechanisms with ethical implications and dimensions. We seek to empower not only Muslim societies, but all societies and countries by providing simple solutions for financial tools in the age of digitization, characterized by innovation and compatible with Islamic Sharia provisions and rules.

AlHashmi pointed out that digital platforms that trade crypto digital currencies have, over time, become more than just a traded currency, as they have become a financial infrastructure that includes complex standards and structures, which the Haqq Association was able to avoid. in the “Haqq” because it resorted to a package of financial innovations that maintained specific behaviors and clearly defined ethical standards. He stressed that the platform is still in a process of searching for new market opportunities and financing models that seek the responsible use of digital platforms and emerging technologies for the benefit of society, through four main pillars: develop a financial ecosystem resilient, encourage both financial resources and digital literacy on the part of investors, encouraging ethical behavior and promoting financial inclusion.

AlHashmi emphasized that any ethical financial practice must take into account the interest of society and its general benefit, which has been translated on the ground by allocating 10% of currency transactions issued on the “Haqq” platform to the Evergreen DAO Endowment. Fund, which is an independent and decentralized cryptocurrency organization that invests in projects that serve Muslim communities around the world.

AlHashmi concluded that the mining of the currency “Islamic Coin” is subject to an innovative method within certain working standards that allows saving energy consumption at lower rates than in the traditional mining method, which is one of the greatest problems in the field of cryptocurrencies, as recent studies indicate that the currency of a famous encoder annually consumes 128 terawatts of electrical energy, which is equivalent to 0.6% of the world’s energy production, little more than the consumption of a country developed like Norway.

It is noteworthy that this year’s GITEX Technology will attract more than 100,000 people from all over the world, with participation from 90 different countries.


About the Haqq Association:

A privately funded technology company founded by a group of experienced blockchain and fintech entrepreneurs interested in creating highly ethical financial services and exploring the potential of distributed technologies in the domain of ethical finance.

Islamic Currency is the native currency of the Haqq community-managed blockchain, dedicated to empowering an ethics-first financial ecosystem. Its mission is to provide the world’s Muslim community with a financial instrument for the digital age, which would enable seamless transactions and interactions while supporting innovation and philanthropy. With a finite total supply, Islamic Coin meets all the criteria of a Halal asset. 10% of each issue is deposited into the Evergreen DAO for future investment in Islam-related companies or donated to Muslim charities, bringing direct economic value to the community.

In June 2022, the coin won a Fatwa, issued by the world’s leading Muslim authorities. Later in August, Islamic Coin raised $200 million during a private sale, breaking all records for the year. Islamic Coin focuses on sustainability, ethics and transparency. Your wallet information is openly available through gnosis-safe.io.

For more information, contact:
Mohamed Afifi
Namoos Marketing and Events


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