Key points: 

• Religious Ruling: Prominent scholar Mufti Muhammad Taqi Usmani issued a fatwa declaring digital currency trading impermissible (haram). 

• Broad Scope: The Mufti Taqi Usmani crypto fatwa covers all digital assets, including standard cryptocurrencies, tokens, and stablecoins like USDT. 

• Legal Definition: According to the decree, digital currencies do not meet the foundational Islamic criteria to be classified as real wealth or property. 

• Market Influence: Although the ruling is a religious opinion rather than a state law, it will likely impact Muslim investors across Pakistan. 

ISLAMABAD – Pakistan’s leading Islamic scholar, Mufti Muhammad Taqi Usmani, has issued a definitive religious decree regarding digital asset trading. Published by scholars affiliated with Darul Uloom Karachi, the formal declaration clarifies that cryptocurrency operations are impermissible under Islamic jurisprudence. Therefore, practicing Muslims are advised to avoid buying, selling, or investing in these virtual markets. 

The ruling takes a strict stance on the fundamental nature of decentralized digital networks. Specifically, the decree concludes that digital assets lack physical backing, intrinsic utility, or state authorization. For this reason, they fail to meet the Islamic legal definition of true wealth (mal). Consequently, any financial transactions involving these assets are considered void from a religious perspective.

Total Ban Covers Tokens and Stablecoins 

Furthermore, the declaration stresses that changing the names or branding of digital assets does not alter their religious status. The Mufti Taqi Usmani crypto fatwa explicitly groups all virtual assets into a single financial category. This means the restriction applies uniformly across the entire Web3 ecosystem. 

“Cryptocurrency is known by different names, including virtual currency, token, and stablecoin. In all these forms, cryptocurrency is not considered wealth, and therefore it is not permissible,” the official statement clarifies. 

As a result, the scope of this fatwa extends far beyond mainstream decentralized coins like Bitcoin and Ethereum. It explicitly restricts the use of blockchain-based utility tokens and dollar-pegged stablecoins such as Tether (USDT). 

Overview of the Religious Decree 

Institutional Backing and Public Impact 

The formal document carries multiple official endorsements from respected senior scholars at Darul Uloom Karachi. While this fatwa functions strictly as a religious guidance framework rather than a government-enforced law, its societal impact remains massive. 

Because Mufti Taqi Usmani is highly respected globally in Islamic banking and finance circles, his opinions carry immense weight. Consequently, this declaration is expected to significantly shape public sentiment and curb crypto adoption rates among retail investors in Pakistan. 

What is the main message of the Mufti Taqi Usmani crypto fatwa? 

The fatwa states that cryptocurrency trading is impermissible (haram) under Islamic law because digital currencies do not qualify as real wealth or property. 

Does this ruling also apply to stablecoins like USDT? 

Yes. The decree explicitly mentions stablecoins and tokens, stating that changing the terminology or tying a coin to a fiat currency does not change its religious ruling. 

Is cryptocurrency now illegal in Pakistan because of this fatwa? 

No. A fatwa is a formal religious opinion and legal advisory for Muslims. It is not a state law enacted by the government of Pakistan, though it strongly influences public financial choices. 

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LAHORE – Most students look to pursue further education after completing their 2-year term in A-levels or Intermediate in Pakistan. Therefore, searching for top universities in Pakistan that offer a brighter future remains their top priority. Pakistan’s newest university, the National Institute of Technology, NIT, prides itself as Pakistan’s first American-style university “Powered by Arizona State University”, ASU.

The courses in NIT are in accordance with the academic framework of the ASU. The NIT faculty has also been given access to ASU’s teaching resources. By far, the greatest privilege students are set to receive in NIT is an opportunity to study 1 year at ASU.

On the eve of the U.S. 250^th Independence Day, the U.S. Consul General Stetson Sanders said that under the program, 250 students are set to receive scholarships and support over the course of 10 years. He described the scholarship as a meaningful investment in Pakistan’s future. Sanders said it would promote talent, innovation, and educational opportunity.

He added, “I couldn’t imagine a better place to celebrate this historic occasion,” wishing the audience a Happy Independence Day and a Happy Freedom 250 celebration.

A proud moment for Upfront.

Right, Mr. Haris Sarfraz Ali, Left, Mr. Mohtasim Kamran, Center, Mr. Stetson Sanders

Our Editor-in-Chief, Haris Sarfraz, and CEO Mohtasim Kamran attended the prestigious NIT celebration and had the privilege of an exclusive meetup with U.S. Consul General Stetson Sanders.

The event also marked the announcement of $5 million in fully funded four-year scholarships, highlighting a shared commitment to empowering future leaders through education and innovation.

Upfront Executives and the Consul General exchanged warm greetings before the event concluded with applause from the audience as participants celebrated the growing educational partnership between Pakistan and the United States.

LAHORE – Punjab Education Minister Rana Sikandar Hayat has come under criticism after remarks he made about government school teachers during a university convocation were widely viewed as disrespectful.

Addressing the convocation ceremony at Bahauddin Zakariya University in Multan on June 24, the minister claimed that government school teachers take ceiling fans with them when they leave their schools.

The remarks sparked criticism on social media, with many users accusing the minister of unfairly generalising an entire profession and overlooking the challenges faced by teachers in the public education sector.

Several educators argued that furniture and equipment are often transferred between schools under official departmental directives, particularly during school mergers, staff transfers or administrative changes, and said the minister had ignored this context.

The comments prompted calls from some social media users for an apology, while others demanded the minister’s resignation.

Critics also said the remarks reflected a lack of understanding of the issues confronting government schools, including inadequate infrastructure, poor security and shortages of basic facilities.