Islamic coin, Shariah-compliant cryptocurrency for the Muslim community and the rest of the world, got a boost with the entry of a renowned banker from the United Arab Emirates and member of the Dubai ruling family.
The Khaleej Times has reported that Maryam bint Suhail bin Obaid Al Maktoum, a member of Dubai’s ruling family, has joined Islamic Coin as an advisor to help with the platform’s mission to empower the world’s 1.1 billion Muslim community “with a robust financial instrument for the digital age.”
“It is a great pleasure to be part of the team and work together on building new financial tools that will lead the way to an even greater, fairer Muslim world and beyond,” the Khaleej Times quoted her as saying.
She said known in the region for her patronage of the arts, architecture, and sports. She holds a degree in business administration and is an active participant in major engineering projects operated by the Al Maktoum family.
Islamic Coin is a native currency of Haqq, a community-run network, dedicated to empowering an ethics-first Shariah-compliant financial ecosystem. The digital money has a finite total supply and 10 percent of each issuance is automatically dedicated for philanthropic purposes. It also includes the Evergreen Fund dedicated to funding ethical, Shariah-compliant start-ups.
Meanwhile, Husein Mohammad Salem Al Meeza, an award-winning banking and insurance veteran in the six-nation Gulf Cooperation Council has joined the Islamic Coin’s executive board.
“Islamic Coin seeks to build value and deliver future-proof solutions, which will offer seamless digital transactions, riding high on innovations and supporting philanthropic causes,” Al Meeza said.
Islamic Coin’s Shariah board, as Fatwa issuer, includes Dr. Nizam Saleh Yakuby, Dr. Mohamed Zoeir and Dr. Essam Khalaf Al-Enezi, as members.
“It’s a pleasure to be part of this amazing team and I look forward to building ethics-first financial instruments that will empower Muslims throughout the world,” he said.
Al Meeza started his career in 1975 when he joined the world’s first Islamic Bank, Dubai Islamic Bank and went on to work there for 27 years in several key roles, including the executive director of the DIB’s corporate banking division.
He was a founder of Emaar Properties, Emaar Financial Services, and Amlak Finance, where he held positions both as a board member and the chairman of the executive committee.
He was also a founder of Dubai Islamic Insurance and Reinsurance, known as Aman, where he was the managing director and chief executive officer. He was also among the pioneers of Al Salam Bank in Bahrain in 2005, which has branches in Sudan and Algeria.