{"id":48478,"date":"2018-11-15T20:59:44","date_gmt":"2018-11-15T20:59:44","guid":{"rendered":"https:\/\/english.thesunrisetoday.com\/?p=48478"},"modified":"2018-11-15T21:01:10","modified_gmt":"2018-11-15T21:01:10","slug":"cryptocurrency-can-be-used-among-islamic-countries","status":"publish","type":"post","link":"https:\/\/english.thesunrisetoday.com\/index.php\/cryptocurrency-can-be-used-among-islamic-countries\/","title":{"rendered":"&#8216;Cryptocurrency can be used among Islamic countries&#8217;"},"content":{"rendered":"<p style=\"text-align: justify;\"><img loading=\"lazy\" class=\"alignleft wp-image-7132\" src=\"https:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2017\/11\/Bitcoin.jpg\" alt=\"\" width=\"801\" height=\"510\" \/>A common cryptocurrency system should be formed for use among Islamic states, said Erol Yarar, chairman of the International Business Forum (IBF).<\/p>\n<p style=\"text-align: justify;\">&#8220;The U.S. dollar is beyond a common currency, it has become a sanctioning tool,&#8221; Yarar told Anadolu Agency. He stated that the U.S. keeps down money transfers, imposes sanctions on the international market, and causes crises in countries by using the dollar.<\/p>\n<p style=\"text-align: justify;\">&#8220;In IBF, this year, we will discuss the term &#8216;monetary pluralism&#8217; to create a fairer and healthier trade environment,&#8221; he said. In this frame, the IBF will discuss using blockchain technology and cryptocurrencies for financial technologies, he added.<\/p>\n<blockquote class=\"alignleft quote-simple \"><p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script> <!-- Automatic size Responsive --> <ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-1234237307185872\" data-ad-slot=\"7381563475\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins> <script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p><\/blockquote>\n<p style=\"text-align: justify;\">Yarar noted: &#8220;We will make a cryptocurrency system, that will be used for international trade among Islamic countries, a current issue.&#8221; The common cryptocurrency can be used for pricing of goods by business-people, exchange markets, and countries, he said.<\/p>\n<p style=\"text-align: justify;\">Cryptocurrencies use the blockchain technology to record transactions &#8212; any movement of money, goods or secure data &#8212; like a traditional ledger. He also stressed a fund like IMF needs to be established among Islamic countries.<\/p>\n<p style=\"text-align: justify;\">The fund, based on non-interest finance principles, will help countries facing an economic crisis, he added. The fund&#8217;s name can be &#8216;international Islamic cooperation fund&#8217;, he said.<\/p>\n<p style=\"text-align: justify;\">The 22nd International Business Forum (IBF) Congress will take place on Nov. 20. The 17th Independent Industrialists and Businessmen Association (MUSIAD) Expo will be held between Nov. 21-24 in Istanbul. The IBF, established in 1995, provides a trustworthy global business network, especially for Muslim business-people.<\/p>\n<div id=\"fb-root\"><\/div>\r\n<script>(function(d, s, id) {\r\n  var js, fjs = d.getElementsByTagName(s)[0];\r\n  if (d.getElementById(id)) return;\r\n  js = d.createElement(s); js.id = id;\r\n  js.src = \"\/\/connect.facebook.net\/en_GB\/all.js#xfbml=1\";\r\n  fjs.parentNode.insertBefore(js, fjs);\r\n}(document, \"script\", \"facebook-jssdk\"));<\/script>\r\n <fb:comments href=\"https:\/\/english.thesunrisetoday.com\/index.php\/cryptocurrency-can-be-used-among-islamic-countries\/\" font=\"arial\" num_posts=\"\" width=\"\" height=\"\" colorscheme=\"light\"  style=\"background:#FFFFFF;padding-top:0px;\r\npadding-right:0px;\r\npadding-bottom:0px;\r\npadding-left:0px;\r\nmargin-top:0px;\r\nmargin-right:0px;\r\nmargin-bottom:0px;\r\nmargin-left:0px;\r\n\"><\/fb:comments>","protected":false},"excerpt":{"rendered":"<p>A common cryptocurrency system should be formed for use among Islamic states, said Erol Yarar, chairman of the International Business Forum (IBF). &#8220;The U.S. dollar is beyond a common currency, it has become a sanctioning tool,&#8221; Yarar told Anadolu Agency. He stated that the U.S. keeps down money transfers, imposes sanctions on the international market, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":7132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,1],"tags":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/48478"}],"collection":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/comments?post=48478"}],"version-history":[{"count":1,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/48478\/revisions"}],"predecessor-version":[{"id":48479,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/48478\/revisions\/48479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media\/7132"}],"wp:attachment":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media?parent=48478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/categories?post=48478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/tags?post=48478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}