Salam, I’m curious on why oasis protocol is haram. Seems like it has a good use case as it’s job is to increase privacy. Any insight would be appreciated jzk.
WS,
The privacy aspect is all good and well but the area of concern for Sharlife was the lending aspect that facilitates riba based lending and borrowing.
We haven’t screened it ourselves, and have no reason to doubt Sharlife’s opinion. However, you may want to find out if there is a way to trade this asset without any involvement within the lending aspect, in which case your trade excluding any riba/ lending borrowing could be permissible. Needs further research, but hope this helps for now.
Thanks for checking and letting us know, as undocumented changes can cause confusion, so it’s important we share changes with all Muslims where possible, which is exactly what this resource is for.
When we last checked, Sharlife had the following to say about this “Oasis Network involves in providing services specifically for the lending activity that not aligned with Shariah. Overall, we classify the platform services as non-Shariah-compliant.”
Based on this we listed Oasis as haram. However, since Sharlife has changed their opinion we can update our records accordingly.
When we publish a full article on any screened coin we always state the source and reasons for compliance or non-compliance, so Muslims may make informed investments and stay halal insha Allah.
As always we recommend investing in coins where there is more than one credible source saying a coin is halal. It just gives the extra level of reassurance in case human errors are made or even where there is a difference of opinion, we can objectively see both views and come to our own conclusions, based on our risk level.
Thanks again. I’ll get the list updated
Jazakallah khairun. I see on sharlifes website oasis network is sharia compliant. Kind of confused by this