Bitcoin and Islamic Finance (version 3∗) Jan A. Bergstra Informatics Institute, by a cascading application of the mechanism of fractional reserve banking. People often wonder whether or not bitcoin complies with Shariah Law. Islamic banking has a lot more rules that apply to profit sharing, loss. Keywords: Islamic Banking, Islamic Finance, Bitcoin, virtual currency. 1. Introduction of conventional banks operating in the same jurisdictions. ( Abedifar.
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