Dalston Mosque Defies Islamic Scholars and Becomes First to Accept Cryptocurrency Donations

Dalston Mosque Defies Islamic Scholars and Becomes First to Accept Cryptocurrency Donations

Bitcoin Cryptocurrency News
May 23, 2018 by Sandra Onyeiwu
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A Dalston mosque will become the first in the United Kingdom to accept donations from Bitcoin, to tap through a wide range of cash around the world from Ramadan. As reported by various media, the idea came from Combo CEO Gurmit Singh, who suggested the idea to the mosque’s president, Erkin Guney. Guney explained: So
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A Dalston mosque will become the first in the United Kingdom to accept donations from Bitcoin, to tap through a wide range of cash around the world from Ramadan.
As reported by various media, the idea came from Combo CEO Gurmit Singh, who suggested the idea to the mosque’s president, Erkin Guney.

Guney explained:

So that’s when the conversation at the mosque started. We soon realized this was relatively uncharted water. […] There were a couple of mosques abroad that also announced they were going to accept cryptocurrency. It looks like we may be the first in Britain to do so.

The only Turkish-owned mosque in the United Kingdom, Shacklewell Lane, goes against the judgments of several Islamic academics and the Turkish government, which previously determined that the cryptocurrency was “incompatible” with Islam.

The Shacklewell Lane Mosque in Hackney announced that they are expected to raise at least £ 10,000 in cryptocurrency donations during Ramadan, through bitcoin and ethereum. Muslims are asked to give away 2.5 percent of their wealth during the 30-day festival as part of zakat.

“We are trying to appeal to a wider audience with the new money,” Erkin Guney, the chairman of the board of trustees, told The Hackney Gazette.

Leaders at the Masjid Ramadan have made the decision to also accept another popular crypto-currency, Ethereum, to try and get urgent repairs carried out at the mosque in Shacklewell Lane.

They want to benefit from Muslim crypto-currency users who are obliged to give away 2.5pc of their wealth to charity during the 30-day Muslim festival. Known as Zakat, or Zakah, the annual donation is compulsory for all but the very poorest Muslims.

“If Muslims, who make up a quarter of the world’s population, hold just 1pc of Bitcoins – or £1.04bn – then £26 million in Zakat contributions is due,” said Mr Singh.
“It’s likely the actual figure is much higher. Currently hardly any mosques or Islamic charities accept Zakat in crypto-currency. They are potentially losing out on millions of pounds.”

Donations can be made on the mosque’s website, and will be transferred to the bank’s crypto-currency hard wallet which will be visible for all to see. The donation will then be traded for sterling through a currency exchange like LocalBitcoin UK.

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