No to Bitcoin – Fatwas issued against trading with Bitcoin

KUWAIT CITY, Jan 16: Following in the footsteps of Saudi Arabia, Egypt and Palestine, Kuwait joins the Arab countries which have issued fatwas against trading in the virtual currency Bitcoin, reports Al-Rai daily.

A member of the Fatwa Committee in the Ministry of Awqaf and Islamic Affairs, Dr Ahmad Al-Hajji Al-Kurdi said in a statement he supports the fatwas issued in Egypt and Saudi Arabia which forbid dealing in Bitcoin.

When asked why he supports the fatwa 90 percent in this regard, Al-Kurdi said because trading in Bitcoin is unclear. Egypt said it is dangerous for national security while Palestine said it is a kind of cheating and gambling.

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