Islamic Coin sets aside $40M, offers grants and investment opportunities for Shariah-compliant endeavours

By pareesh | Date: 19/03/2323

Dubai, UAE -- Obtaining an unprecedented $200 million from private investors, Islamic Coin (ISLM), an ethics-first Shariah-compliant financial ecosystem, launched its grants and investment program to support endeavors and projects to benefit the project’s ecosystem and the global community.

Islamic Coin

The program earmarks $20 million in USD/USDT and $20 million in Islamic Coin. These funds will be channeled towards advancing HAQQ Blockchain and Islamic Coin through initiatives such as development, marketing, bug bounties, and other projects to enhance global adoption. Each investment and grant will undergo rigorous ethical and Shariah evaluations.

To ensure compliance with Muslim values, the project has formed its own Shariah board, headed by Sheikh Dr. Nizam Mohammed Saleh Yaquby, who Bloomberg dubbed 'The Gatekeeper' of the $2 trillion market for Islamic financial products. Sheikh Yaquby also serves on the Shariah boards of renowned global financial institutions such as HSBC, Lloyds TSB, Barclays, BNP Paribas and Credit Agricole of France, and Citigroup.

The Haqq Blockchain and its native currency, Islamic Coin, are trailblazers in introducing the world's first currency that gives back to the world. It is backed by an Advisory Board that includes distinguished members such as Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan (Grandson of UAE founder Sheikh Zayed bin Sultan Al Nahyan), Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, Sheikh Khalifa Bin Mohammed bin Khalid AL Nahyan, Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan, and His Highness Sheikh Juma bin Maktoum Al Maktoum.

At the team's helm are the co-founders — Hussein Mohammed Al Meeza, Mohammed AlKaff AlHashmi, Alex Malkov, and Andrey Kuznetsov — who have been actively driving Islamic Coin's global sustainability efforts. As part of their commitment, they have participated in high-profile events such as the UN's COP27 and the Youth International Conference, advocating the promotion of Sustainable Development Goals (SDGs) and sustainable digital finance. Furthermore, the Haqq Blockchain implements an eco-friendly proof-of-stake protocol to align with the climate action agenda.

Mohammed AlKaff AlHashmi, a co-founder and member of the Executive Board, expressed his pride in launching the initiative. “We look forward to many exciting proposals from our dedicated global community,” he added.


Sham Hamayun

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