• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
islamic finance
Advertisement

UK Mosque Raises 14,000 GBP in Cryptocurrency Donations Despite Concerns of Islamic Leaders

Stephen Webb by Stephen Webb
5 years ago
in News, News teaser
0
Advertisement

After announcing in early May that it would begin accepting cryptocurrency Sadaqah (donations), the Shacklewell Lane Mosque collected a staggering 13,983 GBP in digital currency during Ramadan. 


The Turkish-run mosque in Hackney, East London initiated its plan to accept cryptocurrency earlier this summer, becoming the first in the country — and one of only a few in the world — to take digital currency as a form of donation.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

The Mosque partnered with London-based blockchain startup Combo Innovation, which specializes in Islamic finance. CEO Gurmit Singh worked with mosque chairman Erkin Guney to advise on matters of cryptocurrency collection, storage, and security.

Over the 30 days of Ramadan, the mosque received 24 donations from across the globe — totaling almost 14,000 GBP. In comparison, its cash donations amounted to only 3,460 GBP. Erik Guney told the inews.co.uk:

Many people at the mosque were initially skeptical about us accepting this new money, but the fact we received four times more in cryptocurrency donations shows how important it is to be open to these new digital currencies.

With the success of the mosque’s cryptocurrency adoption, Gurmit Singh hopes that other mosques and charities will follow its lead and take advantage of the opportunities this new revenue stream provides.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

A UK Turkish-owned mosque will become the country’s first to accept cryptocurrency donations during Ramadan, putting it at odds with Ankara on the subject.

Questions Linger Among Islamic Leaders

Islamic leaders throughout the world have continued to question if cryptocurrency is a permissible practice.

The Mufti of Egypt has spoken out against it, expressing concern over its anonymity — an anonymity that has linked bitcoin and other cryptocurrencies with the purchasing of drugs and other illegal items online.

Similarly, the Turkish Directorate of Religious Affairs has stated that:

Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation, they can be easily used in illegal activities like money laundering and they are not under the state’s audit and surveillance.

Religion Embraces Cryptocurrency and Blockchain

Despite that, more and more religious organizations are adopting the usage of cryptocurrencies.

In January, an evangelical church in Zurich, Switzerland began accepting bitcoin as a form of tithing from its parishioners. The church spokesman, Nicholas Legler explained that— be it bitcoin or other state-controlled digital currencies — this technology would soon be apart of everyone’s daily life. The relatively young congregation at the church was working to stay ahead of these advancements.

The Catholic church has announced its own plans to utilize blockchain technology to help run various processes of the church and provide financial inclusivity for the unbanked population.

What do you think about the donations collected by the Shacklewell Lane Mosque? The role of cryptocurrencies within religious organizations? Let us know in the comments below! 


Images courtesy of Shutterstock, Wikimedia Commons.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Stephen Webb

Stephen Webb

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

2 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

2 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

3 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Altcoins For Massive Gains In 2023: Hedera (HBAR)...

    50 mins ago
  • Bitcoin Cash (BCH) to become legal tender of St. Kitts and...

    1 hour ago
  • Axie Infinity (AXS) Is Down 11.5% and Shiba Inu (SHIB) is...

    2 hours ago
  • Aptos (APT) and Avalanche (AVAX) Are Among The Top Losing...

    2 hours ago
  • Orbeon Protocol (ORBN) Surges, While Litecoin (LTC) and...

    2 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.