Yes

>>Bahrain’s central bank has confirmed that Ripple (XRP) adheres to Islamic law (Sharia).

Bahrain’s central bank has confirmed that Ripple (XRP) adheres to Islamic law (Sharia).

crypthub

about 23 hours ago

Sharia Compliance Certification

Ripple has received a Sharia compliance certification from the Central Bank of Bahrain, as documented by the Shariyah Review Bureau. The certification affirms Ripple’s framework aligns with Islamic financial principles, positioning it favorably within the Islamic financial world. This validation is significant for wider acceptance and operational feasibility in Sharia-compliant financial ecosystems.

Expanding Market Access

The certification opens opportunities for Ripple and XRP to engage with banks and financial institutions across regions like the Middle East, North Africa, and Southeast Asia. This access allows XRP to potentially see increased adoption and transactional use within compliant financial systems. Ripple's technology facilitates real-time, low-cost international payments.

Institutional Legitimacy and Impact

The Shariyah Review Bureau, licensed by the Central Bank of Bahrain, adds weight to the certification’s legitimacy. Many financial regulators and banking entities in Islamic countries require Sharia compliance confirmation for digital assets. Ripple’s clearance creates a pathway for partnerships utilizing compliant digital solutions.