Shariah Experts LTD has Issued The World's First NFT-Based Halal Certification on SouqNFT

LONDON - April 30, 2022 - PRLog -- Shariah Experts Ltd. has become the world's first halal advisory firm to issue shariah compliance certificates on blockchain in the form of non-fungible tokens (NFTs).

The halal NFT certificates are minted and issued by the firm on Souq NFT, which is powered by MRHB DeFi, an ethical decentralised finance (DeFi) platform. Singapore-based gold crypto platform Cache.Gold has become the first receiver of the halal certification in the form of NFT.

Shariah Experts is a London-based halal advisory firm founded in 2020 with the vision to achieve shared prosperity for the Muslim world through technological advancements and Industrial Revolution (IR) 4.0 advancements. It aims to guide Web3 projects in the light of halal principles and Islamic rulings. Shariah Experts' scope includes not only cryptocurrencies, NFTs, decentralized finance (DeFi), and metaverse, but also fintech, traditional Islamic finance, banking, capital markets (sukuk), Takaful, social finance (zakat, waqf, Islamic charity), wealth management and financial planning.

The company is headed by world-renowned Shariah scholars Dr. Farrukh Habib and Mufti Billal Omarjee, who have over 15 years of combined experience. Both scholars have deep and vast experience in the crypto verse and blockchain projects.

"Shariah Experts believe that tokenization of certificates in the form of NFTs can bring more transparency and auditability; hence more confidence and trust which is much needed in the halal industry. NFTs can help prevent forgery and cumbersome authentication methods and slow verification processes," said Dr Habib, Co-founder of Shariah Experts. He further added. "Other methods are prone to multiple points of failure along the way, such as loss or destruction of a paper or digital certificate. NFTs are a more streamlined and permanent solution."

These immutable NFTs are the first of their kind that holds records of shariah compliance that are publicly verifiable on a blockchain, providing newfound transparency to the halal certification sector. These NFTs will allow companies to show definitive proof that their business practices and products are certified halal, which means they are ethical according to Islamic jurisprudence principles.

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