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<\/p>\n IOTA (MIOTA) has been certified as Shari\u2019a-compliant by the Cambridge Institute of Islamic Finance, aligning with Islamic principles for enhanced trust in the Middle East.<\/p>\n
The IOTA Token (MIOTA) has achieved Shari\u2019a compliance certification, marking a significant milestone for the cryptocurrency<\/dfn><\/i><\/b><\/u><\/a>. This certification was granted by the Cambridge Institute of Islamic Finance, ensuring that IOTA adheres to Islamic principles and legal requirements, according to the IOTA Foundation Blog<\/a>.<\/p>\n Shari\u2019a law, derived from the Qur\u2019an and Hadith, governs various aspects of Muslim life, including moral, social, and legal guidelines. To align with these principles, the IOTA Ecosystem DLT Foundation, based in Abu Dhabi, UAE, has taken steps to ensure that its processes and offerings are Shari\u2019a-compliant. This move is particularly significant given the increasing emphasis on compliance within the Middle East region.<\/p>\n The certification, effective from July 15, 2024, confirms that IOTA meets all generally accepted Shari\u2019a requirements. The Shari\u2019a Assessment Report by the Cambridge Institute of Islamic Finance states that IOTA is a Shari\u2019a-compliant utility token. The certification is based on widely accepted Shari\u2019a principles and standards as practiced in the Islamic financial services industry.<\/p>\n Achieving Shari\u2019a compliance comes with ongoing obligations. These include adhering to generally accepted Shari\u2019a principles for business and maintaining a Shari\u2019a supervision function to ensure continuous compliance. To this end, a Shari\u2019a Governance Framework (SGF) has been established for the IOTA Token. Additionally, the Cambridge Institute of Islamic Finance will serve as an external Shari\u2019a Advisor, conducting annual compliance checks.<\/p>\n The Shari\u2019a compliance certification is expected to foster trust and growth for IOTA in the Middle East and globally. By aligning with regional regulations and ethical standards, the IOTA Ecosystem DLT Foundation aims to build long-term confidence among stakeholders. This achievement underscores IOTA’s commitment to adhering to regional moral and legal frameworks, thereby enhancing its global and regional ecosystem.<\/p>\n
\n James Ding<\/a>
\n Aug 06, 2024 14:50<\/span>
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\n ![\"IOTA](\"https:\/\/blockchainstock.blob.core.windows.net:443\/features\/DF6F547C839BEDBFADCEEE8E8901571046AD3825A1E28A5819D493384E091058.jpg\")
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\n <\/figure>\nShari\u2019a Compliance: Aligning with Islamic Principles<\/h2>\n
Shari\u2019a Obligations and Requirements<\/h2>\n
Ensuring Global Trust<\/h2>\n