NuShares/Nubits in Islamic Banking

NuShares and NuBits are the perfect digital currencies for the banking and financial sectors of Islamic societies, which forbid the charging of interest. I would argue that NuShares/NuBits is an even better solution than Bitcoin, as posited in this Reddit post:

Islamic banks are forbidden from charging interest, but I suspect that minting NuShares on computers would not be in violation of Islamic law. Furthermore, the stability of NuBits would make it an even better electronic currency for paying for goods and services than Bitcoin.

I do not know Arabic, but I encourage anyone that can translate the concepts in this post to Arabic to do so, and to post it where we can share it with members of Islamic communities.


In islam there is also Zaka, an annual obligation to give charity of 2.5% of the money you have saved for a full year without spending (like the coinage concept), this gives an advantage for a stable currency, imagine not knowing how much USD$ you would have to pay the next year if you don’t want to pay Zaka by selling 2.5% of your precious deflationary Bitcoins.

And forbidding interest is forbidding a granted profit for no actual work or risk, the whole concept of Minting is about staking your money, risking with being online and doing the precious work of securing the network and validating transactions, and in Nushares case: voting for the systems decisions.

I intend to start promoting Nubits in Arabic soon, but the majority of Muslims are not Arabians nor Arabic speakers.


Fantastic!!! Thank you @Raythma for the education and for supporting NuShares/NuBits!