UAE: Dubai-based Layer-1 blockchain ZIGChain has obtained Shariah certification for its proof-of-stake consensus mechanism from Amanie Advisors. Amanie Advisors ruled that ZIGChain’s validator rewards operate under a Wakalah bil Istithmar investment agency structure, classifying them as Shariah compliant rather than having interest-based income.
ZIGChain Co-Founder Abdul Rafay said the certification enables Shariah-governed institutions to participate in staking through productive economic activity, while Dr Mohd Daud Bakar, chairman of Amanie Advisors, said the ruling resolves long-standing uncertainty surrounding proof-of-stake models. The certification applies at the consensus-mechanism level, potentially opening access to Islamic finance assets estimated at US$5.98 trillion globally.
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