Biokript : implementing stringent user verification procedures to ensure that users comply with Islamic finance principles.

in #biokriptlast year

PRESENTATION OF BIOKRIPT EXCHANGE

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Islamic finance adheres to the principles of Sharia law, which prohibits Riba (interest), Gharar (uncertainty), Haram (forbidden) activities, and promotes ethical and socially responsible investments. Our cryptocurrency exchange operates within the framework of these principles, ensuring transactions are morally sound and in accordance with Islamic teachings.

Biokript operates without charging interest on trades or holding positions, as it contradicts the Islamic prohibition of usury.
We conduct rigorous vetting processes to ensure the companies associated with listed tokens adhere to Islamic ethical standards.

Transparency is essential in building trust with our users. Our exchange will provide full disclosure on the sourcing of funds, underlying assets, and the ethical screening process for each listed cryptocurrency, a portion of the profits will be dedicated to charitable causes, ensuring financial purification for users.

We offer Mudarabah-based accounts, where investors provide the capital, and our exchange acts as the Mudarib (fund manager), sharing profits according to a pre-agreed ratio. Investors can opt for Wakalah accounts, where they appoint our exchange as their Wakil (agent) to trade on their behalf for an agreed-upon fee.

We believe in empowering our users with knowledge. Our platform will provide educational resources on Sharia-compliant investing and digital currency fundamentals. Our exchange employs the latest security protocols to safeguard user assets and data from potential threats. We adhere to all relevant financial regulations, ensuring a safe and legally compliant environment for our users. Our platform prioritizes simplicity and ease of use, making it accessible to users of all levels of experience. Our dedicated support team is available round the clock to assist users with any queries or concerns.

Biokript caters to the needs of Muslim users who seek to engage in crypto dealings while adhering to Islamic principles, which prohibits certain financial practices such as earning interest (Riba), engaging in speculative activities (Maysir), and investing in businesses that deal with prohibited goods or services (Haram).

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USE CASES OF BIOKRIPT

The platform allows Muslims to trade cryptocurrencies in a manner that complies with Islamic laws. It ensures that transactions are free from Riba (interest) and any unethical or speculative activities.

It focus on listing cryptocurrencies that are backed by physical assets or real-world business activities. This ensures that investments are tied to tangible assets, which aligns with Islamic finance principles. Biokript can implement a transparent fee structure that does not involve interest-based transactions or hidden charges, ensuring fair and ethical practices.

The platform can conduct thorough research and analysis of cryptocurrency projects to ensure they do not engage in activities deemed Haram (forbidden) in Islam, such as gambling, alcohol, or adult entertainment. It promotes the use of cryptocurrencies for charitable purposes and facilitate the integration of Zakat (charitable giving) options. Users may donate a portion of their profits to charitable causes, promoting social responsibility within the community.

It empowers users to make informed decisions and understand the ethical implications of their investments. It works closely with reputable Islamic scholars or advisory boards to provide guidance on the permissibility of certain activities within the cryptocurrency space.

Biokript will implement stringent user verification procedures to ensure that users comply with Islamic finance principles. This may involve verifying the sources of funds and ensuring that users do not engage in unethical financial practices. It will foster a supportive community of Muslim cryptocurrency enthusiasts, encouraging discussions, knowledge sharing, and a positive trading environment.

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In conclusion, Biokript offers an ethical and innovative solution to cater to the needs of the Muslim community. By merging modern finance with Islamic principles, we aim to foster financial inclusion and empower users to invest in cryptocurrencies while staying true to their faith. Thank you for your attention, and we are now open to questions and feedback.

For more information visit:
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http://www.twitter.com/biokript
http://www.facebook.com/biokript
http://www.instagram.com/biokript
https://t.me/biokript
https://www.reddit.com/user/_Biokript
https://bitcointalk.org/index.php?topic=5419088

Writer Information
Bitcointalk Username: Nonoezeb
Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=3349287
BSC Address: 0x136D32808c1561773C223CA6676D442d47D25Ddd