The کرپٹو کرنسی: پاکستانی اقتصادی نظام پر اثرات فقہ اسلامی کی روشنی میں تجزیاتی مطالعہ

Abstract

Cryptocurrency has emerged as a disruptive financial innovation, influencing global economies and financial systems, including Pakistan’s. This study critically examines the impact of cryptocurrency on Pakistan’s economic system through an analytical lens grounded in Islamic jurisprudence. The research explores the potential benefits and challenges associated with digital currencies, particularly their implications for financial stability, monetary policy, and regulatory frameworks in Pakistan.

The study delves into the economic aspects of cryptocurrency, analyzing its role in fostering financial inclusion, cross-border trade, and investment opportunities while addressing concerns related to volatility, illicit transactions, and economic uncertainty. A key focus is placed on the regulatory measures taken by the Pakistani government and the State Bank of Pakistan (SBP) regarding cryptocurrency adoption, prohibition, and legal ambiguities.

From an Islamic jurisprudential perspective, the study investigates the legitimacy of cryptocurrencies under Shariah law, addressing key concerns such as gharar (excessive uncertainty), riba (usury), and maisir (gambling). Classical Islamic financial principles are juxtaposed with contemporary fatwas and scholarly opinions to determine whether cryptocurrencies align with Islamic economic ethics. The study also examines potential models for Shariah-compliant digital currencies and blockchain-based financial solutions.

By employing a qualitative analytical methodology, the research integrates economic data, legal frameworks, and Islamic jurisprudential principles to provide a balanced perspective on the feasibility and ethical considerations of cryptocurrency in Pakistan. The findings aim to contribute to academic discourse and inform policymakers, scholars, and financial experts about the evolving intersection of digital finance and Islamic economic principles.

Keyword: Cryptocurrency, Pakistan’s Economy, Islamic Finance and Cryptocurrency , Regulatory Challenges and Government Policies, Legal Status of Cryptocurrency in Islamic Jurisprudence.