Kinesis Money - Transacting in Gold and Silver

[nadiac3]

Assalumu Alaikum, I just had a question about whether holding some of my money with services such as Kinesis Money that allows you to transact with gold and silver digitally would be considered halal. Would this even be a good option? I'm quite new to the world of finance and investing. Any advice would be appreciated.

 

[angeshekinahh]

@nadiac3 Aleykum selam,
halal is no coincidence. It must be intended and planned.

I would not trust a non-Muslim company, when it comes to finance.
There are rules to follow, when you want to deal with gold and silver.

If you just want to save your money in gold, I know a Muslim company in Germany, which offers a sharia-compliant gold savings plan.

 

[nadiac3]

@angeshekinahh Thank you for your advice, would you happen to know the name of this company ?

 

[angeshekinahh]

@nadiac3 inspiregold.de

 

[sw1shf1sh]

@nadiac3 Kinesis is Sharia compliant!

https://kinesis-money.medium.com/kinesis-currencies-now-sharia-law-compliant-a2cb4e4d5bb0

 

[sw1shf1sh]

@nadiac3 Kinesis is Sharia compliant!

https://kinesis-money.medium.com/kinesis-currencies-now-sharia-law-compliant-a2cb4e4d5bb0

 

[nadiac3]

@sw1shf1sh wow thank you for this information

 

[massyb]

@nadiac3 I’ve had dealings and know for a fact that laws were broken. CEO has misinformed on numerous occasions…. Company didn’t have its own bank account, couldn’t obtain one and so payments were made via another. The whole facade is bs and I advise that u don’t invest and if u are u pull your funds.