Saylani Welfare International Trust Chairman Maulana Muhammad Bashir Farooqi Qadri has reaffirmed that cryptocurrency is permissible under Islamic principles, stating that a formal religious ruling on the matter was issued around 13 months ago.

The remarks came during an emergency meeting held at Saylani’s head office following renewed media discussions about the status of cryptocurrency. The meeting was chaired by Maulana Bashir Farooqi and attended by blockchain experts and religious scholars, including Chief Mufti Mufti Waseem Akhtar Madani.

Participants reviewed the ongoing debate surrounding whether cryptocurrency should be considered permissible or impermissible under Islamic law. After examining the issue again, the Saylani chairman reiterated his position that cryptocurrency transactions are allowed.

Speaking at the meeting, Maulana Bashir Farooqi said the fatwa supporting cryptocurrency had already been issued and shared with relevant institutions, including the Council of Islamic Ideology, the State Bank of Pakistan and concerned government ministries.

He added that Saylani supports the policies of the state and believes that digital assets and blockchain technology are becoming increasingly important in the global financial system. He noted that many countries around the world are already conducting transactions involving cryptocurrencies and digital assets.

The discussion comes at a time when Pakistan is witnessing growing interest in digital finance, blockchain technology and cryptocurrency regulation. However, experts continue to stress the need for a clear legal and regulatory framework to ensure investor protection and financial stability.