Is Monero (CRYPTO:XMR) halal? Doubtful. Based on AAOIFI screening, Monero passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 50/100 (Grade: C+).
CRYPTO:XMR β Is Monero Halal?
DoubtfulMonero
$354.89
+1.35%
Why This Crypto Is Doubtful
- Monero is a privacy-focused cryptocurrency. While privacy itself is not prohibited, the anonymity features raise concerns about potential use in prohibited transactions.
Consult a qualified Islamic finance scholar for a definitive ruling on this cryptocurrency.
Shariah Compliance Status
Based on AAOIFI screening standards
Fair
Some financial ratios approaching limits
Business Activity Screen
PassedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Monero is a privacy-focused cryptocurrency. While privacy itself is not prohibited, the anonymity features raise concerns about potential use in prohibited transactions.
Screening Methodology
Cryptocurrencies are screened qualitatively based on their primary use case, underlying protocol mechanics, and involvement in prohibited activities. Financial ratio screening (AAOIFI) does not apply to crypto assets as they lack traditional financial statements.
Monero is a privacy-focused cryptocurrency. While privacy itself is not prohibited, the anonymity features raise concerns about potential use in prohibited transactions.
Category: Privacy Coin
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Financial Overview
Market Cap
6.5B
Price
$354.89
Sector
Cryptocurrency
Industry
Privacy Coin
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Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.