Stellar Foundation has achieved certification blockchain Stellar organization Shariyah Review Bureau (SRB). It is argued that this is the first case of obtaining a certificate of conformity to Sharia law cryptocurrency Protocol for money transfer.
Stellar is the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space.
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— Stellar (@StellarOrg) 17 Jul 2018
For ecosystems Stellar certificate means the possibility of expanding markets that require compliance with Islamic principles in the countries of the cooperation Council for the Arab States of the Gulf (Bahrain, Kuwait, Saudi Arabia, Qatar, UAE and Oman) and some countries in South-East Asia.
Stellar Foundation said that over the next months, held several meetings with delegates of global financial institutions, which will discuss the development of Sharia-compliant products and services on the basis of the Stellar Protocol.
Recall that at the end of 2017, the Islamic development Bank (IDB) conducted a study on the matching technology of the blockchain to the laws and principles of Shariah. In the IDB came to the conclusion that the technology of distributed registry does not violate Islamic principles.