Islamic Coin Allocates $40M for Shariah-Compliant Funding

Islamic Coin (ISLM), a Shariah-compliant financial ecosystem, has launched a grants and investment program with the support of $200 million from private investors. The program will allocate $20 million in USD/USDT and $20 million in Islamic Coin to enhance global adoption and advance HAQQ Blockchain and Islamic Coin through various initiatives, including development, marketing, bug bounties, and other projects. All investments and grants will undergo ethical and Shariah evaluations to ensure compliance with Muslim values.

To oversee the project’s adherence to Shariah principles, Islamic Coin has established its own Shariah board headed by Sheikh Dr. Nizam Mohammed Saleh Yaquby, known as ‘The Gatekeeper’ of the $2 trillion market for Islamic financial products. Sheikh Yaquby is a member of the Shariah boards of several global financial institutions such as HSBC, Lloyds TSB, Barclays, BNP Paribas, and Credit Agricole of France Citigroup.

Islamic Coin’s Haqq Blockchain and its native currency, Islamic Coin, are trailblazers in introducing the world’s first currency that gives back to the world. The Advisory Board includes distinguished members such as Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan, Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, Sheikh Khalifa Bin Mohammed bin Khalid AL Nahyan, Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan, and His Highness Sheikh Juma bin Maktoum Al Maktoum.

The team behind Islamic Coin, including co-founders Hussein Mohammed Al Meeza, Mohammed AlKaff AlHashmi, Alex Malkov, and Andrey Kuznetsov, have been actively driving the project’s global sustainability efforts. As part of their commitment, they have participated in high-profile events such as the UN’s COP27 and the Youth International Conference, advocating the promotion of Sustainable Development Goals (SDGs) and sustainable digital finance. Additionally, the Haqq Blockchain implements an eco-friendly proof-of-stake protocol to align with the climate action agenda.

Mohammed AlKaff AlHashmi, a co-founder and member of the Executive Board, expressed his pride in launching the initiative. “We look forward to many exciting proposals from our dedicated global community,” he added.