The HAQQ association, which oversees Sharia, Islamic Coin first Islamic currency of ethical digital money, signed a partnership with Fambras – Federation of Muslim Associations of Brazil. The partnership will oversee the issuance, maintenance and validation of food certificates, payment settlement, as well as product tracking using smart GPS QR codes, all on the HAQQ blockchain.
Fambras, founded in 1979, operates in the social, humanitarian, religious, economic and diplomatic spheres, aiming at promoting Islam and human development activities. Fambras was a pioneer in the implementation of the Halal concept and system in Brazil, becoming the most important authority in Islam and one of the main models of Halal certification in the world.
The Fambras-Haqq Association alliance will enable both parties to work together on sustainable entrepreneurship, Shariah-compliant practices and payments. Partners will join forces in building more transparent and trusted product journeys for end users by providing ethical, halal-centric and technology-based solutions.
“It is a pleasure to be able to work together in building a Shariah-inspired framework, together, for the world,” commented Fambras President Dr. Mohammed Alzoghbi.
Co-founded by Mohammed AlKaff AlHashmi, with nearly two decades of experience in computer science and engineering, industry 4.0, artificial intelligence, machine learning, industrial automation and IoT, Islamic Coin is working closely with sustainability and high-tech initiatives around the world. Mohammed AlKaff AlHashmi recently presented the platform at the UN's COP27 Conference, to a panel of international luminaries and ESG experts.
Focusing on 1,1 billion Muslim Internet users, as well as followers and supporters of fair and transparent finance, Islamic Currency has already secured the support of leading figures in traditional and Islamic finance and received recognition from the Royal Families in the UAE.
Accordingly, the Advisory Board presents HE Sheikh Khalifa Bin Mohammed bin Khalid AL Nahyan, SH Sheikh Juma bin Maktoum Al Maktoum and HE Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan. The Executive Board includes Hussein Al Meeza, known across MENA and the GCC for his award-winning talent, with over 45 years experience in Islamic banking, finance and insurance, one of the key figures involved in the establishment of Dubai Islamic Bank - the first Full-fledged Islamic bank in the world. The Board's impressive roster also includes Khamis Buharoon AI Shamsi, who served as the former Deputy Director of the Finance Division and Deputy Director of the Internal Audit Division of the Central Bank of the UAE. Wall Street also took notice. The Executive Board also recently welcomed Greg Gigliotti, CEO, Chief Investment Officer and Founding Partner of Xtellus Advisors. A respected fund manager with experience at Goldman Sachs and other global institutions, Mr. Gigliotti managed a portfolio of more than $16 billion during his career.
The Islamic Currency Shariah Board is headed by Sheikh Dr. Nizam Mohammed Saleh Yaquby, recognized by Bloomberg as “The Guardian” of a $2 trillion market for Islamic financial products. Sheikh Yaquby sits on the shariah boards of leading international finance including HSBC, Lloyds TSB and Barclays; France's BNP Paribas and Credit Agricole and Citigroup.
Islamic Currency will be launched on global exchanges soon.