Advanced! Conglomerate Chairul Tanjung Predicts There Will Be Sharia Cryptocurrencies In The Future

Senior entrepreneur Chairul Tanjung (Photo: Doc. Antara)

JAKARTA - Senior entrepreneur who is also one of the richest people in Indonesia Chairul Tanjung (CT) believes that sharia economic principles are quite relevant to the latest technological developments.

One of the highlights is the development of cryptocurrencies. According to him, the Islamic finance industry has a good opportunity to enter this sector.

“Now there is a digital transformation, there are cryptocurrencies, blockchain and so on. Now, it can actually become sharia," he said at the MUI People's Congress on Sunday, December 13.

However, CT assesses that there are a number of aspects that crypto instruments need to fulfill in order to comply with Islamic economic principles.

“Cryptocurrencies that do not have an underlying are illegal. However, if there is an underlying it can be halal, because crypto is not a product but a technology,” he said.

CT then provides a fairly relevant picture in the development of Islamic financial instruments in the 4.0 era with products that have been released by the government.

"Now what is possible is that sukuk can be cryptocurrencies," he added.

Therefore, CT encourages the government together with stakeholders and all Indonesian people to be able to think more openly in order to capture economic opportunities but remain within the halal corridor.

“This is our homework going forward to be able to change the traditional mindset. Because, if the conventional has gone far to develop like cryptocurrency but the sharia is still traditional, it will never meet (be able to compete),” concluded Chairul Tanjung.