12 Oct 2025
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When Binance rolled out its new Sharia Earn platform on July 11, 2025, the crypto world got a glimpse of an unlikely marriage: high‑tech finance meeting age‑old Islamic law. The launch event unfolded in Dubai, United Arab Emirates, and was later highlighted in a Binance Square Webinar on July 14, where CEO Richard Teng called it the company’s "most meaningful product yet."
Background: Islamic Finance Meets Crypto
Islamic finance, a $4 trillion‑plus industry, has long avoided crypto because of worries over riba (interest) and gharar (excessive uncertainty). Yet the demand for halal investment avenues has been simmering. In Southeast Asia alone, more than 200 million Muslims expressed interest in digital assets last year, according to a survey by the Islamic Development Bank.
Enter Amanie Advisors, a Malaysia‑based Sharia advisory firm. After a rigorous review involving dozens of scholars, the firm gave its seal of approval to Binance’s new staking model, which relies on a Wakala agreement – an agent‑principal structure that sidesteps interest while allowing profit‑sharing.
Details of the Sharia Earn Launch
The product, officially named Sharia Earn, offers staking for three major tokens: Binance Coin (BNB), Ethereum (ETH) and Solana (SOL). Expected annual returns sit between 5 % and 8 %, a figure that mirrors conventional halal savings accounts in the region. The platform went live the same day it was announced, with users able to opt‑in through a dedicated dashboard that highlights compliance status for each token.
Sharia Earn LaunchDubai was celebrated with a live webcast, where Teng said, "Today we are proud to introduce a staking solution that respects the values of Muslim investors worldwide. Transparency and shared prosperity are at the heart of both Islamic finance and our mission at Binance."
Within 48 hours, more than 50,000 accounts had activated Sharia Earn, according to data from Crowdfund Insider. Early adopters span seven countries – Afghanistan, Bangladesh, Egypt, Indonesia, Pakistan, Saudi Arabia, and the United Arab Emirates – where local regulators have signaled tentative support for the initiative.
- Launch date: July 11, 2025
- Supported tokens: BNB, ETH, SOL
- Annual return estimate: 5‑8 %
- Initial markets: 7 Muslim‑majority countries
- Certification: Amanie Advisors
Reactions from Binance and the Muslim Community
Richard Teng’s comments were echoed by community leaders. Sheikh Dr. Yusuf Al‑Qaradawi, a senior Sharia scholar based in Cairo, praised the effort, noting that "the product adheres to the core tenets of Islamic finance while opening a new frontier for halal digital assets."
Meanwhile, Binance’s public‑relations chief, Lina Hassan, stressed that the company will continue working with regional regulators to ensure ongoing compliance across differing interpretations of Sharia law.
Market Impact and Analyst Views
Industry analysts see the launch as a potential catalyst for a broader shift. Bloomberg’s crypto desk estimated that a successful halal staking product could unlock up to $30 billion in previously untapped digital asset capital over the next three years. "If Binance can prove the model works, we’ll likely see rivals like Coinbase and Kraken chase the same niche," said fintech commentator Mara Patel of The Financial Times.
However, skeptics caution that crypto volatility remains a risk. A recent report by the International Islamic Financial Market warned that price swings could jeopardize the perceived stability of halal returns, urging continuous oversight by qualified Sharia boards.
Future Outlook and Challenges
Binance says it plans to expand Sharia Earn beyond the initial three tokens, adding stablecoins that meet halal criteria after further audits. Partnerships with Islamic banks in Malaysia and Saudi Arabia are already under discussion, aiming to create a bridge between traditional banking deposits and crypto staking.
Regulatory clarity will be key. While the United Arab Emirates has a relatively crypto‑friendly stance, other markets like Saudi Arabia are still drafting specific guidelines for digital assets under Sharia law. Binance’s ability to navigate these differing regulatory landscapes will determine whether Sharia Earn can scale globally.
In the meantime, the company is rolling out educational webinars in Arabic, Urdu and Bahasa Indonesia to help potential users understand the mechanics and risks involved. The hope is that informed participation will build trust and keep the product aligned with both financial and religious expectations.
Frequently Asked Questions
How does Sharia Earn differ from regular crypto staking?
Sharia Earn uses a Wakala (agency) model rather than paying interest, meaning profits are shared between Binance and the user in a way that complies with Islamic law. The platform also screens the underlying projects to ensure they operate in halal‑permitted sectors.
Which countries can currently access Sharia Earn?
At launch, the service is available to residents of Afghanistan, Bangladesh, Egypt, Indonesia, Pakistan, Saudi Arabia and the United Arab Emirates. Binance says it will roll out to additional Muslim‑majority markets later this year.
What returns can users expect?
The platform markets an annualised return of roughly 5 % to 8 %, depending on the token and market conditions. These figures are comparable to conventional Islamic savings accounts but come with the volatility inherent to crypto assets.
Is the product fully Sharia‑compliant?
Yes. The staking model was vetted and certified by Amanie Advisors, which consulted a panel of scholars across Malaysia, Saudi Arabia and the Gulf region to confirm compliance.
What are the main risks involved?
Besides the usual crypto price swings, users must consider regulatory risk – some jurisdictions may later restrict or tax crypto staking. Additionally, differing interpretations of Sharia law could affect the product’s acceptability in certain markets.
Manish Mistry
October 12, 2025From a regulatory standpoint the introduction of a Wakala‑based staking model represents a nuanced reinterpretation of profit‑sharing mechanisms that have long been prohibited under classical riba doctrines.