An East London mosque decided to accept cryptocurrency for donations to the poor during the Ramadan holy period, despite the concerns of many of the world’s Islamic leaders. The digital money flowed in.
Shacklewell Lane Mosque began accepting digital coins as donations, or “Sadaqah,” in early May, partnering with London-based blockchain startup Combo Innovation, which specializes in Islamic finance, according to British newspaper i.
During the 30 days of Ramadan, the mosque received 24 donations from across the world worth almost 14,000 British pounds. Meanwhile, cash donations in the period amounted to only 3,460 pounds, said the mosque’s chairman, Erkin Guney.
“Many people at the mosque were initially skeptical about us accepting this new money, but the fact we received four times more in cryptocurrency donations shows how important it is to be open to these new digital currencies,” he added. Read more here.