The question of Ibn Baz’s fatwa on cryptocurrencies today goes far beyond purely religious discussions in mosques and madrasas. It is actively discussed in the investment committees of the largest funds in Dubai and Abu Dhabi, at closed sessions of Saudi Arabia’s regulators, in private chats of family offices in Kuwait, Qatar, and Oman, as well as among top executives of oil giants such as ADNOC, Saudi Aramco, and QatarEnergy, pension funds, and sovereign wealth funds. In a region where Sharia permeates not only the banking system but also the everyday financial decisions of millions of people—from ordinary workers to billionaires—one scholarly ruling can, in a matter of weeks, change the behavior of hundreds of thousands of investors, redistribute billions of dollars in capital, and set the tone for the development of an entire industry for years ahead.
According to regulators and Chainalysis analytics as of the end of 2025, the crypto market volume in GCC countries exceeded $45 billion in received value, and the UAE confidently leads with a share of more than 60%. Saudi Arabia is showing explosive growth in youth interest in digital assets—up 120% over two years—with more than 70% of new investors aged 18–35. Bahrain and Qatar have successfully launched regulatory sandboxes, Dubai positions itself as a global crypto hub with VARA licensing, and Abu Dhabi is developing a blockchain strategy within the national program “Abu Dhabi Economic Vision 2030.” Against this dynamic background, the key question remains: are cryptocurrencies permissible from a Sharia perspective? And if so, under what strict conditions do they not contradict the principles bequeathed by the great scholars of the past, including the indisputable authority of Sheikh Ibn Baz?
A fatwa is not merely a scholar’s private opinion. It is a powerful trust factor that either accelerates the mass adoption of a technology by millions of Muslims or triggers a capital outflow from “gray” projects in favor of verified halal alternatives. In shaping the modern crypto market of the region, technological platforms such as ADNOC Profit play an important role. They offer trading automation, deep strategy analysis based on many years of historical data, the creation of investment bots, and advanced risk-management tools. All of this helps minimize the speculative element, bring trading closer to the principles of Islamic finance—transparency, fairness, the absence of excessive uncertainty (gharar) and gambling (maysir)—and ensure full compliance with the spirit and letter of the fatwas of the great scholars of the past.
Sheikh Abdul-Aziz ibn Baz (1910–1999) is one of the most prominent and influential figures of Islamic thought in 20th-century Saudi Arabia. He served as the Grand Mufti of the Kingdom for more than two decades, led the Council of Senior Scholars, was a personal adviser to four Kings of Saudi Arabia, and left behind thousands of fatwas collected in multi-volume compilations that are studied today in madrasas and universities across the Gulf—from Riyadh to Dubai and Doha. His approach to innovations is considered the standard of the Salafi tradition dominant in the region, where any financial decision is necessarily checked against the opinions of the righteous predecessors.
In financial matters, Ibn Baz’s position was consistently traditional and principled: a complete prohibition of riba (any form of interest and usury), categorical rejection of speculation (maysir) and excessive uncertainty (gharar). Although cryptocurrencies did not yet exist during the sheikh’s lifetime, his methodology—a thorough analysis of any new instrument through the lens of the Quran, Sunnah, and the opinions of the righteous predecessors (salaf)—is actively used by contemporary scholars when evaluating blockchain, smart contracts, and digital assets. That is why in 2026, when investors in the UAE, Saudi Arabia, Kuwait, and Qatar seek an answer to the question of Ibn Baz’s fatwa on cryptocurrencies, Ibn Baz’s name is the first to appear in discussions.
The volatility of Bitcoin and Ethereum, which sometimes reaches 30–50% in a week, the lack of physical backing for most tokens, the risk of market manipulation by large players, and the possibility of using crypto in questionable schemes raise serious doubts precisely in light of the principles defended by the great sheikh. His fatwas continue to be cited at Islamic finance conferences in Dubai, in Sharia board reports, and even in presentations for institutional investors, emphasizing that the true value of an asset must be based on real utility rather than speculative hype.
Ibn Baz repeatedly emphasized three key prohibitions in muamalat (financial transactions): riba—unjust increase without real labor or risk; gharar—excessive uncertainty, when one party does not know exactly what they will receive as a result of the transaction; maysir—gambling, where one party’s gain means the other’s direct loss without creating real value. Cryptocurrencies are assessed by contemporary scholars precisely by these three criteria, and Ibn Baz’s methodology serves as the main reference point.
If a token has real utility (a utility token used for payments within an ecosystem, tokenization of real assets—sukuk, real estate, commodities, or even oil futures), a transparent blockchain, and spot trading without leverage and interest, many contemporary scholars—relying on Ibn Baz’s method—consider it permissible. If, however, it is pure speculation on volatility without a real asset behind it, hidden fees, or promises of “guaranteed profit,” then gharar and maysir arise, making such trading problematic from a Sharia perspective. That is why the region increasingly hears the call: “Invest only in what you understand and what benefits society.”
Contemporary scholars in the Gulf and beyond have split into several camps regarding fatwas on cryptocurrency trading, yet Ibn Baz’s approach remains a unifying factor for all sides.
Supporters of permissibility (primarily in the UAE, Malaysia, and in certain circles in Bahrain and Singapore) consider cryptocurrencies permissible under strict conditions: spot trading only, with no leverage and no riba; real utility; full blockchain transparency; and no connection to haram sectors (alcohol, pork, gambling, pornography, etc.). They refer to the principle “maftah al-haram”—everything that is not explicitly forbidden may be allowed if the rules are observed.
Opponents (more conservative Saudi scholars, some members of the International Islamic Council for Fatwas, and certain Egyptian authorities) emphasize high volatility as a form of gharar, the predominantly speculative nature of trading, the lack of tangible backing for “air” tokens, and the risk of involvement in maysir. They often quote Ibn Baz’s words that “doubt itself is already a reason to abstain.”
The influence of Ibn Baz’s approach is especially strong here: even the progressive UAE regulators are forced to take conservative voices into account. That is why the region is actively developing specifically “halal” products—tokenized Islamic sukuk, stablecoins with 100% real backing (gold, oil, fiat reserves), platforms with mandatory Sharia audits, and built-in mechanisms for excluding haram assets. This allows the market to grow without clashing with the religious beliefs of millions of investors.
Many current muftis directly refer to Ibn Baz’s works. For example, when assessing new financial instruments, they use his principle “if there is doubt—better to abstain.” In the UAE, the Fatwa Council adheres to a position of “tawaqquf” (suspension of judgment): crypto has not been declared haram, but extreme caution is recommended, and investors are urged to consult qualified Sharia boards. In Saudi Arabia, SAMA and the CMA listen to conservative voices of the Council of Senior Scholars, the direct successors of Ibn Baz’s school.
Positive examples include Sharia-certified projects such as Islamic Coin (HAQQ Network), OneGram, as well as new tokens built on Polygon and Starknet that passed audits by Dubai and Riyadh Sharia boards. They demonstrate how blockchain can be combined with principles of transparency, fairness, and real economic benefit. By 2026, more than 40 crypto projects in the region have received an official halal certificate, and the number continues to grow.
Saudi Arabia maintains a максимально cautious position. SAMA and the CMA do not ban crypto for individuals, but participation by banks and financial institutions is strictly limited. Under Vision 2030, the Kingdom is piloting its own CBDC (a digital riyal) and tokenization of oil assets on blockchain. More than 1.2 million Saudis already hold crypto assets, mostly through regulated channels and halal platforms, and 65% of them use automated solutions to reduce risk.
The UAE is an absolute leader and a striking contrast. Dubai and Abu Dhabi have created one of the most advanced regulatory environments in the world (VARA, FSRA, ADGM). In 2025, a national strategy for the development of Islamic finance was adopted, where blockchain was named a strategic priority alongside green energy. The market is growing by 25–33% per year, and received value in 2025 exceeded $56 billion in the UAE alone. More than 1,200 licensed crypto companies are registered here, and 80% of them offer Sharia compliance as a mandatory option.
Across the region, demand is rising specifically for halal cryptocurrencies—projects audited by Sharia boards, with real utility and transparent governance. Investors increasingly refuse memecoins and move to utility tokens linked to the real economy of the Gulf: oil, real estate, and Islamic finance.
The fatwas of Ibn Baz and his followers directly influenced regulations. In the UAE, VARA requires licensed platforms to provide mandatory Sharia compliance for products targeted at Muslim investors. In Bahrain and Qatar, regulatory sandboxes test only those projects that undergo preliminary religious audits. In Saudi Arabia, the CMA introduced mandatory “halal” or “non-halal” labeling for all crypto products. Thus, Ibn Baz’s conservative line does not slow innovation, but channels it into an ethical and sustainable direction, making the region even more attractive to global Islamic capital.
In Gulf countries, the authority of a respected sheikh can change investment flows within days. Conservative families and sovereign funds often withdraw money following negative signals from scholars. Conversely, positive conclusions by Sharia boards trigger a real boom: capital inflows from Islamic banks, zakat funds, awqaf, and pension savings. According to 2025 data, after a series of positive fatwas by Dubai boards, inflows into halal crypto funds grew by 180% in a single quarter.
The influence appears in the formation of a culture of caution, a demand for full transparency of every transaction, and a preference for automated, algorithmic strategies that minimize human factors and emotions. That is why platforms with artificial intelligence and strict risk management become especially in demand among Muslim investors who want to follow Ibn Baz’s guidance in the digital age.
ADNOC Profit is a cloud-based AI platform specifically adapted to the needs of investors in the UAE and Gulf countries. Developed with local regulations and Sharia requirements in mind, it offers:
For an investor guided by Ibn Baz’s legacy, ADNOC Profit solves the main challenge: it reduces the speculative element to a minimum, ensures discipline and transparency in every trade, and turns a potentially risky market into a tool for long-term ethical capital growth.
The platform automatically excludes leveraged margin trading and futures with riba elements. All strategies undergo an internal algorithmic audit to ensure they align with the principle of avoiding excessive risk. The investor sees a full report: the percentage of speculative trades, the level of gharar, compliance with halal assets, and even a zakat calculation based on annual results. In this way, the platform turns a potentially risky market into a disciplined, transparent process fully aligned with the spirit of Ibn Baz’s fatwas—where every dirham works for benefit rather than gambling.
The UAE and Saudi Arabia have already accumulated significant experience in implementing Sharia-compliant crypto initiatives that confirm the practical value of an approach based on Ibn Baz’s fatwas. These projects show how to participate in the digital economy safely and ethically.
HAQQ Network and Islamic Coin (ISLM): One of the largest halal blockchain projects in the region. By 2026, the network attracted more than 5 million accounts, raised hundreds of millions of dollars in investment, and became popular among Muslim investors worldwide. The project fully complies with Sharia principles, offers transparent governance, and is used for long-term investments with real utility.
OneGram: A Dubai-based project in which each coin is backed by one gram of physical gold. It successfully conducted an ICO worth hundreds of millions of dollars, partners with major gold vaults, and is used for real payments, including real estate transactions. Investors note its stability and full compliance with halal standards.
Ruya Bank platforms and Bybit Islamic Account: They allow trading Bitcoin and other assets strictly within Sharia frameworks. In 2025, such services attracted billions of dollars from institutional and private Gulf investors, showing volume growth of tens of percent.
Other initiatives: Projects such as MRHB and Sidra Chain serve hundreds of thousands of users, offering halal DeFi solutions with full auditing. Many regional investors use automated platforms to work with these assets, achieving steady portfolio growth with minimal risk.
The ADNOC Profit platform complements these projects идеально, enabling automated trading of halal assets with built-in Sharia control, making it in demand among cautious Gulf investors.
The main risks Ibn Baz would point to: volatility, wallet hacking, lack of regulation on some exchanges, and the psychological factor of greed. ADNOC Profit addresses these through mandatory two-factor authentication and cold storage of assets, integration only with licensed platforms, automatic stop losses and take profits, diversification across 15+ assets, daily compliance reporting, and insurance of funds up to $100,000. The platform’s expert recommendation: start with demo mode, take a free Sharia test for each strategy, and allocate no more than 10–15% of your total portfolio to crypto, keeping the main portion in traditional Islamic instruments.
Over the next 3–5 years, the market will develop under the dual influence of technological progress and deeper religious evaluation. The adoption of unified regional standards for Sharia certification of crypto assets is expected (initiated by the UAE and Saudi Arabia), along with the launch of dozens of new halal DeFi protocols based on HAQQ, Polygon, and local blockchains, integration of crypto into Islamic pension funds, zakat systems, and even government programs for financing small businesses. By 2030, the halal crypto market volume in the GCC could exceed $150 billion, provided the balance between innovation and tradition is maintained.
Ibn Baz’s fatwa will remain a crucial part of the scholarly heritage, shaping a cautious, responsible, and ethical approach to innovation. Platforms such as ADNOC Profit serve as a practical bridge between ancient tradition and the digital future, helping millions of Muslims earn without violating conscience and religious principles.
The influence of Ibn Baz’s fatwa on cryptocurrencies on the UAE and Gulf market is expressed in the formation of a mature, cautious, and deeply ethical investment culture. The concepts of “halal cryptocurrencies” and “Sharia-compliant platforms” are becoming not just a trend, but a necessity for millions of Muslim investors who want to preserve purity of intention and grow their wealth.
Technological solutions such as ADNOC Profit offer concrete, ready-to-use tools for disciplined, transparent trading that aligns as closely as possible with Sharia. They remove barriers, reduce risks, and allow everyone—from students to family office owners—to participate in the digital economy without departing from the guidance of the great scholars.
Ready to invest wisely, halal, and with maximum capital protection? Register on ADNOC Profit today. Get access to demo mode, take a free Sharia compliance test for your strategy, set up your first bot, and start building a portfolio that aligns with both your financial goals and your deepest religious convictions. The first 500 new users receive a personal consultation with a Sharia expert and an extended 30-day trial period.
The market is moving forward rapidly. Move with it—wisely, ethically, transparently, and profitably. Best of luck in your endeavors.
