#881: Ruling on Agrichainx and Investing in such Company
881. QUESTION:
“Please, I need the learned admins of this group to help me take a deep look and critical diagnosis of the document I’m about to post now. It is about a Cryptocurrency based Agricultural Company which was just coming up, the CEO/Founder of this company gives the people chances to invest in the company in order to become part of stakeholder or shareholder of the company. The company modelled their operation in line with company like Amazon, Alibaba, Ebay and Uber.
MY QUESTION IS THAT CAN MUSLIMS BE AN INVESTOR OR STAKEHOLDER IN THIS KIND OF COMPANY?”
ANSWER:
Alhamdulillāh!
Firstly, we apologise for a delay in responding to this question. It is due to other commitments requiring attention. We ask Allāh for forgiveness and efficiency, amīn.
We have gone through the document attached carefully and so far have not seen anything that is against a place where a Muslim could invest.
However, there are many obscurities in this writing. It’s limitations are very obvious.
First, the writers have not told us the way the Organization makes it’s money from the processes mentioned, and what will be the entitlements of those that invest in it aside the discounts referred to.
Second, the Document has not told us any detail about it’s Management Team and Advisers other than their names, their positions and that they are accomplished professionals. How are we sure that they are trust worthy people that can steer the wealth of People? It appears like a beautifully scripted writing enveloped in a conundrum.
Three, this is a draft document that is subject to review as the writers duly said.
We can therefore not say anything more about the company other than that the concept as a whole seem in the right place but the details are shady and not clearly spelt out.
And Allāh knows best.
Lastly, can’t we have Muslims innovate things the like of this and steer them in accordance with the Ah’kām of the Sharī’ah? And that the entire Ummah may benefit? Instead of all the time, trailing in the following of the Kuffār who use their minds to innovate things.
Are we not more deserving of been Innovative? We the Ummah of Allāh on Earth?
Bārakallāhu Fīkum
Jazakumullāhu Khayran
Abū Āsim
27th Rabīu Al-Awwal, 1441AH.
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