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How do you research on token?

Dear Reader,

As more and more token are offered also with Islamic label please find some thoughts on some very basic data checks (suggestions from the readers welcome:

Token check list:

Pre-minted yes/no - if the tokens are already "minted" that means that all proceeds are going to the *central* promoter. Decentralised finance would be a misnomer, e.g. bitcoin genesis blockchain - the pre-minted token number was around 50 out of 20 million - thereafter miners were rewarded with the new bitoins. Now many issue token numbers of a billion or more. None of those has a chance to become the next bitcoin. Pre-minted token are the antithesis.

Intense online/offline marketing - press releases, repeated text, pick part of the press release text into " " and then google search how often it is cross-posted with unchanged wording. Bad sign.

This goes along with the question: Is there real third party write-ups in the web? Awards and Sponsorships do not count as they are bought for money like ads.

Due Diligence on team members:
type in Google: "Name" AND scam OR corruption OR Rüsvet OR bakshish OR fraud OR pyramid OR crime OR court OR shit

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Should Muslims invest in Crypto? Are they halal?

More and more Muslims consider investing in Crypto Currencies and participating in so-called Initial Coin Offerings (ICO). What is the background aside from the poster child bitcoin?

There are two main types of Crypo:

Security Token - Crypto which has some rights or assets attached. Regulators tend to require a prospectus and deem it akin to a security. It's value follows the rights and assets attached and need careful analysis. As Security Tokes are offered online, they may or may not be subjected to a regulator, and any misrepresentations could not be prosecuted. Fraud is frequent.

Utility Token - Crypto which has no rights or assets whatsoever attached to it. Regulators mostly leave it to the people taking the view that no disclosures are required if something is essential without any value. Analysis about the price can only be derived from market psychology. Fundamental values are not given. It is a kind of gift to the issuer from a regulatory point of view and thus no need to protect anybody out there. There is no material countervalue from a secular legal point of view.

Sharia point of view:

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Islamic Stock Screener - open source

Dear All,

as salamu alaikum,

as part of my book project I developed a simple tool for Islamic stock screening. What does it do?

- data pull from Google Finance and MarketWatch
- Calculating cash and debt compliance criteria versus 220days average market cap
- Zakat calculation per share for the zakatable asset approach, if held for investment

***Telegram Group for discussion on Islamic stock screening:

***Live Google Sheet:


The tool is under a GLP-3.0 License and be used and amended privately with no charge. Users are encouraged to verify and improve the tool for mutual sharing. No warranties given. Feedback directly or via Telegram group highly welcomed. Is your market avalaible, or do you desire a screening for your market?

Other Screening tools are:

Halal Investors:
Zoya Finance:

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Join me on Patreon

Dear reader,

If you appreciate, then now you have the chance to become a part of it:

Become a Patron!

Your support is most welcome!

Best regards,

Michael Gassner

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20 years of Islamic banking in Bosnia and Herzegovina

With the establishment of BBI Bank in the year 2000, a new era of business in the banking sector in Bosnia and Herzegovina has begun. For the first time, Bosnian citizens were given the opportunity to choose a different way of banking. Twenty years later, this is one of the most stable and fastest growing banks in Bosnia and Herzegovina.

The Bank was founded by The Islamic Development Bank (IsDB) as the largest shareholder with more than 45 percent ownership, Dubai Islamic Bank (DIB) with a share of 27.27 percent, and Abu Dhabi Islamic Bank (ADIB) with 27.27 percent. In order to harmonise its business with Islamic rules, regulation and principles, a Sharia Committee was established with domestic and world renowned experts in the field of Sharia law.

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Ramadan Karim!

Dear Readers,

Ramadan Karim to all of you.

May your fasting be accepted!

Best regards,

Michael Gassner

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Samstag, 20.2.21, 21:00 - Tutorial - zielbasierte Vermögensaufteilung, Aktien, Sukuk, Immobilien, Renten und Vorsicht vor Betrug

m Dritten Teil der Vortragsserie stelle ich Euch/Ihnen vor, wie und warum Vermögen aufgeteilt wird, warum es wichtig ist dabei die Ziel zu berücksichtigen, welche Finanzprodukte hierfür in Frage kommen und welche religiösen Fragen von halal, haram und Charakterentwicklung sich stellen.
Geld (Euro, Gold, Silber, Crypto?), Unternehmen (Crowdfunding, Aktien), Immobilien und Kreditversicherung, Staatliche Rentenversicherung und Vorsicht vor Finanzbetrug.

Der Vortrag ist im Browser über den folgenden Link zu verfolgen oder mit besserem Bild in der MS Team App.

Am Samstag, den 20.2.21 um 21:00:

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Arabic: Sustainable Development Key Performance Indicators (SD-KPIs)

Sustainable Development Key Performance Indicators (SD-KPIs) are three particularly material environmental, social and governance (ESG) indicators for the expected business development of 68 different sectors.

The copyrighted SD-KPI Standard 2016-2021 was published by SD-M® on behalf of the the Federal Ministry for the Environment (BMU) and with support of the Sustainability Accounting Standards Board (SASB). A Japanese, Chinese and Arabic translation is also available:

According to the BaFin Guidance Notice on Dealing with Sustainability Risks, ESG risks should be strategically considered, e.g. by means of SD-KPI Standard 2016-2021. The Guidelines (German) to the Sustainability Code of the German Council for Sustainable Development recommend the SD-KPI Standards for materiality analysis.

The Big Six® are the six most important challenges for sustainable development in 21st century:

climate change
freshwater scarcity and pollution
deforestation and desertification
absolute poverty
loss of biodiversity
population growth and migration

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Deutscher Vortrag: Islam & Finanzplanung - Freitag, 12.2.21 - 21:00

Tutorial Islamische Finanzplanung

Der Vortrag spricht sowohl über den Mindset zum Thema Vermögen und Planung als auch über den Erwerb (Arbeitnehmer, Unternehmer), Bewahrung (Budget, Absicherung) sowie Ausgeben (Spenden, Nachlassplanung, Stiftung) des Vermögens.

Ein Beispiel für eine Musterfamilie wird ebenso vorgestellt.

Das Thema deckt das 2. Kapitel des Buchprojektes ab.

Der Besprechung über Ihren Computer oder eine mobile App beitreten

Die Seite zum Buch:

Das Meeting findet via MS Team statt .- die App kann kostenlos runtergeladen werden - funktioniert aber auch einfach im Browser:

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Islamic equity screening and Zakat calculation

Mark your calendar: You can join the meeting on Saturday, 6th February 2021, 15:00 CET

How far we get if we aim to screen stocks ourselves at home for Sharia compliance? Via MS Team meeting I present basic considerations of the screening criteria and Zakat issues, and then show with shared screen how it could be done in Google Sheets with a DIY attitude. This lecture was intended for German Muslim stock market investors in mind, who wished to understand, what commercial screening tools ruled out for them. And the overall work is part of a book project on Islamic finance for consumers.

In regard to Zakat - a full analysis would go to far - two approaches are taken, which are the most prevalent. By all means seek the advice of your school of thought and trusted scholar.

The commercial providers will be named, too. Surely more convenient. Nevertheless going through a Google Sheet once step by step is a good exercise for getting comfortable with the criteria and methods as such.

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Online Lecture Islamic wealth management Part 1: Tuesday 26th Jan 2021 - 7 pm GMT/UK

Hosted and moderated by Kristiane Backer, Michael Gassner is speaking on Islamic wealth management in three lectures - based on his upcoming book in German about Islam, Finance and Prosperity ( )

Please register:

Part 1 will discuss the issues with debt, interest and inequality - why does interest prohibition does make sense? What is wrong with today's tax rules, banking rules and monetary policy in a nutshell? Rather than going into various explanation, Michael argues that exponential growth of debt is the core of the problem. The poor getting poor and the rich richer? He explains how debt and interest really shifts wealth.

Latest bulletin of the Islamic Organisation for Food Security for download

Please download the bulleting from the link below.


Director-General of IOFS H. E. Yerlan A. Baidaulet

“As we all know that 2020 has been an unprecedented and challenging period that has affected
all parts of the world especially the OIC region with the COVID-19 pandemic and its subsequent
drawbacks. The global food systems have been tested by both environmental and biological
factors that reflect the urgent need for a more resilient, strong and powerful food system
that can bear the responsibility at national, regional, and international level. The first and
immediate global reaction to COVID19 was having in place all the measures for an appropriate
lockdown and closing borders to protect all countries from the spread of the pandemic. Such
action affects the flow of food supplies, disturbs the food chain and leaves farmers facing
challenges without support.

«According to the WFP and an estimated 265 million people could be pushed to the brink of
starvation by the end of this year. The food we need should be nutritional, safe, Halal and
enough for everybody.”

The Islamic Development Bank and The International Islamic Trade Finance Corporation hold a webinar on AgriTech & Digital Supply Chain

The International Islamic Trade Finance Corporation (ITFC) and the Islamic Development Bank (IsDB) jointly held a live webinar entitled "The Role of AgriTech in Food Security & Sustainability" to discuss sustainable climate-smart agricultural technologies for achieving food and nutrition security. The webinar highlighted the most promising AgriTech solutions to enhance efficiencies of agricultural value chains at the national, regional and global level. The webinar, which was presented in English and included French, Arabic and Russian interpretations, featured panel discussions and presentations by industry experts in the field of Agriculture, AgriTech and Trade Finance. The ITFC will provide technical assistance to farmers and associated agribusinesses to build their capacities to use the digital tools to enhance agricultural productivity. The 2nd webinar, entitled "Digital Supply Chain" will be held on the 25th of November 2020.

Bank Negara: Mismatch in green funding demand, supply decelerates sustainable projects

Malaysia’s pledge to minimise its greenhouse gas emissions by 2030 is facing challenges in terms of a mismatch in demand and supply of fundings. Bank Negara Malaysia (BNM) assistant governor Fraziali Ismail said that considerable funding gaps remain in sustainable projects, despite the roll out of green financing schemes. Fraziali emphasised that there is a need to find a way to bridge the language and information gap between scientists, government and financiers. He also emphasised the role of the financial sector, particularly that of the capital market, in driving Malaysia’s sustainable development through the sukuk market.

Abu Dhabi Islamic Bank launches #UAE's first virtual banking sales platform

Abu Dhabi Islamic Bank (ADIB) has launched a remote sales platform allowing customers to converse with the bank and apply for personal finance, covered cards, takaful, and other banking products without having to leave their homes. A first of its kind in the UAE, the platform is equipped with virtual banking tools, including online application and electronic signature services. The platform also integrates virtual communications tools, including video conferencing and real-time screen sharing, to boost collaboration between customers and sales representatives. ADIB has seen a significant surge in customer demand for its digital banking services in 2020. Around 94% of ADIB’s banking transactions are conducted digitally and 65% of customer updates are made through the bank’s digital channels. In addition, 50% of new ADIB customers have opened their accounts digitally.

#Indonesia gains heft in Islamic banking with 3-way merger

The Indonesian government announced that it would merge the syariah units of three state-owned lenders to create the country’s seventh-largest bank. Pending approval by regulators, the syariah units of Bank Rakyat Indonesia, Bank Mandiri and Bank Negara Indonesia will join forces by February to form a lender with roughly 215 trillion rupiah (S$19.8 billion) in assets. The move is part of an ongoing effort among Indonesian officials to capture a bigger slice of the market of religiously observant Muslims.

“Abu Dhabi Islamic” launches a platform for banking – economic –...

Abu Dhabi Islamic Bank launched a sales platform that allows customers to communicate remotely with the bank and apply for personal finance products, covered cards, takaful products and other banking solutions without having to leave their homes. This platform is the first of its kind in the UAE, and it is equipped with a set of virtual banking tools, including an electronic application and electronic signature services. Since its launch, more than half of the bank’s card sales are executed via the platform remotely.

Featuring Over 2,000 Participants from 90 Countries, Seventh Annual G20 Interfaith Forum Concludes with Strong Focus on COVID, Inequalities and Climate Change

The seventh annual G20 Interfaith Forum concluded its meetings on Saturday after five days of sessions that addressed the COVID-19 emergencies, climate change, social, racial, and economic disparities, environmental challenges, the preservation and safeguarding of sacred sites, and other pressing issues. Originally intended to be held in the Kingdom of Saudi Arabia, host of the 2020 G20 Summit, the conference was conducted virtually in response to the global pandemic. Attendance exceeded 2,000 participants from more than 90 countries. The crisis posed by the COVID-19 pandemic played a central role in the discussions at the Forum. The discussions offered vivid testimony to the need for the world's political leaders to include religious actors in policymaking processes including notably the November 2020 G20 Leaders' Summit in Riyadh. Formal recommendations resulting from the Forum will be shared with G20 leadership in the coming weeks.

Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities

Cryptocurrency adoption and investments remain low in Muslim countries as people are still unsure of its compliance with Islamic law. At the SCxSC Fintech Conference 2020 last week, shariah expert Datuk Dr. Mohd Daud Bakar said that investors need more time to understand cryptocurrency from the shariah perspective. In Malaysia, the SC Shariah Advisory Council has declared that it is permissible for Muslims to invest in and trade cryptocurrencies, including bitcoin, on government-registered crypto exchanges. Bakar explained that cryptocurrency is not regarded as legal tender, but it is a legit commodity that can be exchanged within the market, as long as it is not backed by “ribawi items,” like gold and silver. Bakar added that the Securities Commission of Malaysia has also made it possible for companies to issue coins as a method of raising capital, subject to certain restrictions through its fatwa resolution.

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