Summit on Islamic Finance and Cryptocurrency, 25.07.2016
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Great News for Muslim Users!!!!!!
OneCoin under #Islamic #Law
OneCoin adds Shariah-compliant option for Coinsafe
In order to improve its services for OneCoin users in muslim countries, which have been increasing exponentially over the past year, the company has implemented changes to the Coinsafe option, which will now allow people who support the Islamic faith to use it without overstepping the boundaries of the Shariah law.
According to this Islamic law, money is simply a medium of exchange. Each unit is equal in value to another unit of the same denomination and you are not allowed to make a profit by exchanging cash with another person. A #Muslim is not allowed to benefit from lending money or receiving money from someone, i.e. receive interest.
To comply with these rules, OneCoin has made changes to its Coinsafe option, which would usually generate interest.
Now users can choose to tick a “Shariah-compliant account” box in their Coinsafe account. That way the user will receive gift coins in return for storing their mined OneCoins in #Coinsafe, instead of interest.
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