Collective fiqh body
Assembly of Muslim Jurists of America (AMJA)
مجمع فقهاء الشريعة بأمريكا
AMJA
A North American fiqh council whose resident fatwa committee issues rulings on contemporary financial questions for Western Muslims — including detailed positions on cryptocurrency, conventional mortgages, forex leverage, and stock screening.
Areas of expertise
Notable work
- AMJA Resident Fatwa Committee resolutions on cryptocurrency (2018, updated 2022)
Cited in these rulings
Are forex overnight swap fees riba?
Overnight swap fees on standard forex accounts are charged or credited based on the interest rate differential between two currencies. This is riba al-nasi'ah (interest from deferment) — impermissible by consensus.
Is Bitcoin halal?
Scholarly opinion is split. A growing majority of contemporary scholars permit Bitcoin as a form of digital property (mal). A vocal minority — including parts of the Turkish and Egyptian fatwa councils — consider it impermissible due to volatility (gharar) and lack of intrinsic backing.
Are crypto futures and perpetuals halal?
Crypto futures and perpetual swaps are impermissible by near-consensus among scholars who have ruled on the question. They involve excessive leverage, funding rate interest, and sale of what one does not possess.
Is crypto staking halal?
Proof-of-stake validator rewards are debated. Scholars who view staking as compensation for performing a service (validation) permit it. Scholars who view it as a return on locked capital treat it as riba.
Are binary options halal?
Binary options are impermissible by consensus. They are pure all-or-nothing bets on a price outcome — the textbook structure of maysir (gambling).