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SHACKLEWELL MOSQUE UK USES BITCOIN AND ETHEREUM FOR ZAKAT

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picture by Eric Guney
The Shacklewell Lane Mosque in Dalston UK registers as the first mosque in UK to accept Cryptocurrency as a mode of payment for the Ramadan offering. The payments were to be made through the official website after which the funds will be traded through Localbitcoins UK.

Shacklewell Lane Mosque is on a better side to benefit from the Crypto-Trading members of the mosque.

“If Muslims, who make up a quarter of the world’s population, hold just 1 percent of bitcoins – or £1.04 bln ($1.39 bln) – then £26 mln ($34.6 mln) in Zakat contributions is due,” Mr Guney told the Hackney Gazette, financially-able Muslims being obliged to donate 2.5% of their wealth during Ramadan.

The mosque had crypto-currency users who are obliged to give away 2.5pc of their wealth to charity during the 30-day Muslim festival. Known as Zakat, or Zakah, the annual donation is compulsory for all but the very poorest Muslims.

The Dalston mosque, hopes to raise £10,000 in crypto-currency donations over Ramadan. Erkin Guney, the chairman of the board of trustees, told the Gazette: “We are hoping to bring the attention to the Muslim world we need support. I’ve grown up around here and I have watched the community grow and the challenges it’s faced with – it’s a struggle, with housing, food, the cost of funerals and government changes. We are trying to appeal to a wider audience with the new money. It’s big in the Islamic world, and we have set up a platform for wealthier Muslims outside our community to support and donate to our mosque.”

Gurmit Singh, the Combo Innovation founder has advised the mosque on how to receive, store and sell crypto-currency safely.

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