Malaysia is the world’s first country to accept Zakat payments via cryptocurrencies. This is thanks to the Federal Territories Islamic Religious Council-Zakat Collection Centre (PPZ-MAIWP) recently offering payment options using cryptocurrencies.
Its CEO, Datuk Abdul Hakim Amir Osman, said that the move was due to the need to guide Muslims about the responsibility of performing Zakat in regard to digital assets. Moreover, it’s in line with the advancement of blockchain technology.
According to Sinar Harian, Abdul Hakim asserted that Zakat contributors can now perform Zakat directly using cryptocurrencies. the initiative will also ensure that all groups can perform their Zakat responsibilities, regardless of the form of assets they own. He added that the transformation in performing Zakat through a digital medium shows that Islam is always evolving and adapting to the needs of its ummah.
In 2024, the institution had collected approximately RM45,000 in digital Zakat. This was a 73% increase compared to 2023. In doing so, PPZ-MAIWP appointed Sharlife Sdn Bhd as its cryptocurrency Zakat collection agent.
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