Islamic Coin Wins ESG Crypto at The Middle East Blockchain Awards – News
In recognition of its commitment to sustainability, Islamic Coin, the ethics-first digital money that complies with Sharia law, has won Most Promising ESG Crypto at the MEBA Awards.
Islamic Coin is a native currency of the Haqq ecosystem, working to strengthen the world’s Muslim community, and beyond with a financial instrument for the digital age.
The Middle East Blockchain Awards were presented in Abu Dhabi on November 18 and honored achievements in Blockchain and Web 3.0 alongside the main players in the region.
The digital money won the award category because it complies with ESG requirements and promotes ethical and sustainable activities. Mohammed AlKaff AlHashmi, co-founder and board member, accepted the award.
Targeting 1.1 billion Muslim internet users
The unique configuration of the Islamic Coin ensures that 10 percent of each issuance is deposited into the Evergreen Decentralized Autonomous Organization (DAO) for further investment in Islamic-related businesses or charity, thereby providing direct economic benefit to the global Muslim community and beyond.
The team has already engaged in sustainability initiatives and recently presented at the WGGO Youth International Conference in New York, supported by the United Nations.
Islamic Coin complies with Sharia law and capitalizes on a large international market. By 2024, the value of Islamic finance is expected to reach $3.69 trillion; by 2025, the value of ESG assets is expected to reach $53 trillion.
“We have a digital currency that not only makes social contributions through charity, but is also good for society because it uses a proof-of-stake system that requires the purchase of tokens to be part of the network, a process that saves significant amounts of energy,” explained Andrey Kuznetsov, Islamic Coin’s co-founder and chief technology officer.
Islamic Coin aims to reach 1.1 billion Muslim internet users worldwide and supporters of fair and transparent finance. Already, the cryptocurrency has received attention from prominent figures in both traditional and Islamic finance, and has secured the support of royal families in the UAE.
Royal and leading experts provide support
Sheikh Dr. Nizam Mohammed Saleh Yaquby, known as ‘The Gatekeeper’ of a $2 trillion Islamic financial products market, chairs the Islamic Coins Shariah Board. Sheikh Yaquby is a member of the Shariah boards of several leading international financial institutions, such as HSBC, Lloyds TSB and Barclays, as well as Citigroup, BNP Paribas and Credit Agricole in France.
The executive board includes leading figures from traditional and Islamic finance. The board consists of Hussein Al Meeza, an award-winning banker with over 45 years of experience spanning the Islamic banking, finance and insurance sectors, Hussein Al Meeza is one of the key figures involved in the establishment of Dubai Islamic Bank, which was the first fully out. – the new Islamic bank in the world.
In addition, Khamis Buharoon AI Shamsi, who served as Assistant Director of the Finance Department and Assistant Director of the Internal Audit Department of the Central Bank of the UAE, has also been engaged as a board member.
Greg Gigliotti, managing director, chief investment officer and founder of Xtellus Advisors, has also joined. Gigliotti is a respected fund manager who has worked at Goldman Sachs and other international organizations. He managed a portfolio of more than $16 billion throughout his career.
Islamic Coin will soon roll out on exchanges, and intends to launch several services, including a wallet and a super app.
