Binance, a leading cryptocurrency exchange, has announced the launch of “Sharia Earn,” a multi-token staking platform that complies with Sharia law. This initiative, the first of its kind globally, has been officially certified by Amanie Advisors, a prominent Sharia advisory firm. The platform is designed to offer a financial product that aligns with Islamic principles, enabling halal investing on a global scale.
The introduction of Sharia Earn marks Binance’s first foray into Islamic finance. Developed to harmonize with faith-based financial principles, the platform allows users to generate yield in a manner consistent with Sharia-compliant products. Binance aims to provide an inclusive financial solution that adheres to Islamic values such as risk sharing, wealth circulation, and the prohibition of interest and uncertainty.
Sharia Earn is debuting with support for major cryptocurrencies including Binance Coin (BNB), Ethereum (ETH), and Solana (SOL), and is initially available in 31 countries. These include Afghanistan, Bangladesh, Egypt, Indonesia, and several others, with plans to expand further. The technology underpinning the platform is based on Binance Earn’s staking products for BNB, ETH, and SOL, which have been reviewed and approved by Sharia scholars.
The platform operates under a Wakala agreement, ensuring that all investments are in ventures and assets permissible under Islamic law, avoiding any interest, excessive uncertainty, or Sharia-prohibited activities. This groundbreaking initiative opens the door for millions of Muslims around the world to participate in decentralized finance (DeFi) and crypto investing within a framework that respects their religious beliefs.
Binance is also celebrating the launch with promotional campaigns offering up to $100,000 in rewards, demonstrating the exchange’s commitment to expanding the accessibility of Sharia-compliant financial products.
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