Is OneCoin permissible?

What is the ruling on OneCoin? Is it permissible?

This detailed research paper compiled by M. Suhail Patel attempts to determine whether it is permissible to participate in the OneCoin scheme by investigating:

  • what OneCoin is
  • whether OneCoin is a reputable and credible organisation or not
  • the history of the founders and leaders
  • the legal status of OneCoin
  • its portrayal in the media
  • how payments work
  • whether the economic claims are valid
  • the value of the educational packages
  • if OneCoin is an actual cryptocurrency or not
  • what the experts say regarding OneCoin
  • the Islamic ruling regarding OneCoin

The paper concludes that it is impermissible to participate in the OneCoin scheme. 

The paper has been approved and endorsed by the following scholars:

  • Mufti Amjad Mohammed, Bradford, UK
  • Mufti Faisal Niazi al-Mahmudi, Montreal, Canada
  • Shaykh Yusuf Shabbir, Blackburn, UK

To read or download, please click on the following link: onecoin-research-paper-islamic-ruling

Please note that further endorsements are pending and will be added as and when received, insha Allah.