news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin About To Shock Everyone – Prediction Changed | Gareth Soloway

    Bitcoin About To Shock Everyone – Prediction Changed | Gareth Soloway

    Shiba inu Massive news | Emergency Meeting अमेरिका से बड़ी खबर | Cryptocurrency | USDC latest news

    Shiba inu Massive news | Emergency Meeting अमेरिका से बड़ी खबर | Cryptocurrency | USDC latest news

    Stellar Lumens Price Prediction – XLM Crypto Price News Now!!! Watch This Before Buying?

    Stellar Lumens Price Prediction – XLM Crypto Price News Now!!! Watch This Before Buying?

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    FETCH.AI FET Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    FETCH.AI FET Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Crypto.com CRO Coin Price News Today – Cronos Technical Analysis Update Now and Price Prediction!

    Crypto.com CRO Coin Price News Today – Cronos Technical Analysis Update Now and Price Prediction!

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin About To Shock Everyone – Prediction Changed | Gareth Soloway

    Bitcoin About To Shock Everyone – Prediction Changed | Gareth Soloway

    Shiba inu Massive news | Emergency Meeting अमेरिका से बड़ी खबर | Cryptocurrency | USDC latest news

    Shiba inu Massive news | Emergency Meeting अमेरिका से बड़ी खबर | Cryptocurrency | USDC latest news

    Stellar Lumens Price Prediction – XLM Crypto Price News Now!!! Watch This Before Buying?

    Stellar Lumens Price Prediction – XLM Crypto Price News Now!!! Watch This Before Buying?

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

    FETCH.AI FET Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    FETCH.AI FET Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

    Crypto.com CRO Coin Price News Today – Cronos Technical Analysis Update Now and Price Prediction!

    Crypto.com CRO Coin Price News Today – Cronos Technical Analysis Update Now and Price Prediction!

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

No Result
View All Result
news4global
No Result
View All Result
Home Business

Update: Qatar Central Bank warns against unlicensed entities after CoinMENA launch in Qatar – Doha News

May 22, 2022
Reading Time: 3 mins read
0
Update: Qatar Central Bank warns against unlicensed entities after CoinMENA launch in Qatar – Doha News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

CoinMENA is a Sharia-compliant exchange, certified by the Bahrain-based Shariyah Review Bureau.

CoinMENA has become the first regional digital asset exchange to operate in Qatar, allowing Qatari citizens and residents to open accounts with the trading platform and access all its features as of 19th May.

One such feature includes an individual having the capacity to link their bank accounts to their personal CoinMENA wallets in order to facilitate streamlined deposits and withdrawals.

On Thursday however, Qatar Central Bank released a statement warning against dealing with any unlicensed financial institution or service provider.

It further informed that advertisements are spread from time to time on social media by unlicensed institutions to “promote their illegal activities”, and that there are no financial institution licensed to provide services of exchange, transfer, trading, or dealing with virtual assets and currencies.

The entity further warned that it will take legal action against any service provider and virtual assets in Qatar operating without a license.

Who are CoinMENA?

With its headquarters in Bahrain, the firm recently became the first onshore crypto exchange centre to introduce “limit trading,” allowing the platform’s users to set the price at which they wish to buy and sell crypto.

CoinMENA is a Sharia-compliant digital asset trading platform that is licensed and regulated by the Central Bank of Bahrain. Through the platform users can buy, sell, store and receive digital assets, such as Bitcoin.

It also enables deposit and withdrawal options according to the local currency.

Potential users can also earn bonus rewards upon inviting others through the platform’s referral programme.

Despite the warnings issued by Qatar Central Bank, CoinMena’s co-founders Dina Sam’an and Talal Tabbaa said: “We are delighted to become the first crypto exchange to offer our services in Qatar. Investors have been asking about our plans to enter the country for some time now, so this news represents a major milestone on our long-term geographic market expansion plans.”

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto Bill India: What Is Crypto Bill & How It Works – Forbes Advisor … – Forbes

March 23, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

INX Announces First-Ever Blockchain-Powered Dividend Distribution – PR Newswire

March 23, 2023

“CoinMENA’s entry into Qatar is a huge step on our journey to becoming the Middle East and North Africa region’s preferred crypto financial services company,” Sam’an noted.

Crypto currency is considered a decentralised digital money designed to function as a medium of exchange through a computer network, which is not regulated by a government or bank.

Some Islamic rulings over cryptocurrencies

According to the Secretary-General of the International Union of Muslim Scholars Dr Ali Al Qaradaghi, an investment in crypto or digital currencies such as Bitcoin and its counterparts is forbidden by Sharia law due to several reasons.

In February, he argued that the means of money handling could potentially generate ‘riba‘, which refers to the exploitative gains made in trade or business.

Digital currencies, Dr Al Qaradaghi explained, are forbidden due to the inherent lack of value in digital money, which is otherwise found in elements such as gold and silver. 

He states that as contrasted with credit or banknotes, digital currencies are not regulated by governments or a higher body, rendering it a forbidden make-up.

Commenting on the topic, Dr Abdulazeem Abozaid an Associate Professor of Islamic Finance in Hamad Bin Khalifa University and an expert on Islamic finance, told Doha News in February, that cryptocurrencies “do not qualify yet as valid currencies because they do not fulfil the Shariah conditions or requirements for a valid currency.”

“Nor are they valid to be traded or invested in. This is in view of the high risk associated with their trading due to their high volatility, which makes the whole process akin to gambling,” he said.

Whilst there is no common consensus in the Islamic finance industry regarding the permissibility of the digital currency, Devesh Vijay, Digital and Innovation Advisor, said: “Banks, fintechs and consumers have been riding the digital transformation wave for a few years.”

“However with the Covid-19 pandemic accelerating the digital agenda, it is no longer a choice to make. It is imperative for survival,” he added, as reported by KPMG in their Qatar Banking Perspectives 2021 paper.

Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto Bill India: What Is Crypto Bill & How It Works – Forbes Advisor … – Forbes

by admin
March 23, 2023
0

Crypto Bill India: What Is Crypto Bill & How It Works – Forbes Advisor ...  Forbes

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

INX Announces First-Ever Blockchain-Powered Dividend Distribution – PR Newswire

by admin
March 23, 2023
0

INX Announces First-Ever Blockchain-Powered Dividend Distribution  PR Newswire

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Coinbase Is 2nd Crypto Firm to Get Wells Notice – PYMNTS.com

by admin
March 23, 2023
0

Coinbase Is 2nd Crypto Firm to Get Wells Notice  PYMNTS.com

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

AnChain.AI Selected as Finalist for RSA Conference 2023 … – PR Newswire

by admin
March 22, 2023
0

AnChain.AI Selected as Finalist for RSA Conference 2023 ...  PR Newswire

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

A New York Court Is About to Rule on the Future of Crypto – WIRED

by admin
March 21, 2023
0

A New York Court Is About to Rule on the Future of Crypto  WIRED

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Hong Kong may face backlog in crypto license applications as demand grows, former SFC regulator says – Forkast News

March 24, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

'Can't get their act together': Crypto firms slam SEC, Washington for lack of clarity on rules – CNBC

March 24, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto founder Do Kwon indicted in US following Montenegro arrest – Reuters

March 24, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Terraform Labs co-founder Do Kwon arrested in Montenegro – The Washington Post

March 24, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Hong Kong may face backlog in crypto license applications as demand grows, former SFC regulator says – Forkast News

March 24, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

'Can't get their act together': Crypto firms slam SEC, Washington for lack of clarity on rules – CNBC

March 24, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global