Malaysia enables Zakat payments through cryptocurrencies
Malaysia has begun accepting Zakat payments through cryptocurrencies, in what is being viewed as a latest initiative to keep pace with the growing digital economy.
The country's Federal Territories Islamic Religious Council Zakat Collection Centre (PPZ-MAIWP) launched a channel for digital asset zakat payments earlier this month.
According to local media reports, Abdul Hakim Amir Osman, PPZ-MAIWP chief executive stated that with blockchain technology and the increasing use of digital assets such as cryptocurrencies, digital tokens and NFTs (non-fungible tokens), there is a need to guide Muslims on Zakat obligations related to these assets.
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