Manama: Mahmood Rafique, Editor: Zamzam crypto currency, the first crypto currency compatible with Islamic law in the world, said that it had achieved more than 1.3 billion dollars in trading since its launch last November until the end of February this year.
The value of these trades came through currency trading through three global platforms, and on the third of this March, the currency was listed in two new global platforms (AAX- DIGIFINEX) which results in being listened in five international platforms since its establishment, that is, only 3 months ago.
“We are pleased to announce that we have reached more than 1.3 billion dollars in value of trades during the past three months, while the market value of Zamzam has reached to 100 million dollars, while the value of some other Arab crypto currencies did not exceed 70 thousand dollars, despite their presence for more than a year in the market, and all these numbers we achieved despite the critical global situation as a result of the pandemic, and we are now witnessing international tension due to some global conflicts, but we are confident that we will overcome this crisis,” Hamed Fakhro, Member of the Board of Directors and Chief Executive Officer of the crypto currency, said.
“We were able to enter the club of the top three thousand currencies in the world, despite the presence of more than twenty thousand new currencies per month. Their head, Shaikh Nizam Yaqubi, gave a lot of confidence to this Islamic crypto currency, through which we intend to create a global financial institution that deals within the scope of Islamic law, and to be one of the financial institutions that provide new financial services and products to the Islamic world.”
Hamed Fakhro stressed that the currency is currently leading the Arab and Islamic digital platforms and currencies, by achieving a very advanced position, as in the latest update of the Global Currency and Platforms Index (COINMARKETCAP) ,Zamzam achieved the 2918th position, beating global platforms that trade in millions of dollars daily, and that “Zamzam” It was able to achieve transactions that exceeded most of the Arab platforms and currencies combined, despite its recent existence, and that the crypto currency community exceeded 30,000 people in its various digital clubs.
“ The coin was launched on November 24, last year and during the first day of the coin offering it had surpassed by 10 million dollars, as it was able to hit nearly $15 million on the first day of trading , and that the average daily trading value of the currency currently ranges between five million to 10 million dollars per day , while the worst trading was recorded at about two million dollars per day, making it in the ranking of the top 200 most traded currencies around the world.”
“The world, if demand continues in the same way, it is possible to reach advanced ranks in this list very quickly within three years, as the currency’s trading numbers are very close to the rest of the world currencies.”
“This currency is the first currency that is compatible with Islamic law and the second Arab currency. It is particularly important to know that this currency is fully compatible with Islamic law. It has a Sharia supervisory body like the one found in Islamic banks, and it has special rules and laws that are compatible with Sharia. “Many investors from Arab and Islamic countries point out the necessity of having an Islamic formula for all the projects that are invested in, not to mention the investment of Islamic banks that it is necessary to invest in Sharia-compliant matters, which encouraged them to take that step, and the need to develop an Islamic option for these institutions.”
