The speculative nature of cryptocurrencies has triggered debates among many Muslim scholars. The result of some was that cryptocurrency is religiously permissible.

According to many scholars, It was concluded that cryptocurrency is permissible and halal under Islamic Sharia law. These alone have unlocked the crypto investment market to the global Muslim audience with the increasing number of interested Muslims wanting to use crypto as a form of currency.

This made a global start-up company that was founded a few years ago to issue a gold-backed cryptocurrency and part of the effort is to convince Muslims that investing in cryptocurrencies complies with faith. The global surge of interest in bitcoin, Ethereum, and other cryptocurrencies extends to Southeast Asia and the Gulf which are the main Centre of Islamic finance.

Cryptocurrency is a virtual currency and we can call it a digital asset based on blockchain technology. A decentralized network. Due to this, the cryptocurrency can't be hacked, cheated, or duplicated. The fact that it is safe, efficient, and undeletable makes it a top-notch consideration when analyzing halal transactions.

MARHABA; THE BRIDGE

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Meet Marhaba, the decentralized finance platform that is bringing a world-best shariah decentralized fiancé compliant to the crypto-space backed by blockchain.

Marhaba aims to bridge the gap between the Muslim community and the blockchain world hence it is referred to as a Muslim-also ecosystem.

In the Marhaba ecosystem, the product protocol and crypto-asset are governed primarily by the ethical, inclusive sustainable, and charitable investment principles associated with Islamic affairs

CRYPTO-ASSET DOWNSIDE

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As the current decentralized finance and crypto-space continue to expand, thee are still some limitations to two billion-plus Muslims. Many Muslims are still considering the 'wait and see' mindset due to the volatility of the cryptocurrencies, most Islamic economies have missed out on the benefit of the decentralized finance market because of the low adoption of cryptocurrencies in many Muslim countries.

maOver a billion people have been excluded from using decentralized finance due to reasons related to complexity, faith, and access. There is confirmation from different scholars about the eligibility of crypto-verse to the Islamic faith but there are still some vices that are being frowned against, This is because it was believed that the current Defi protocol platform available creates a halal and ethical ecosystem but some still have outright interest base and others are not shariah-screened. This is why some are still considering their option before engaging in cryptocurrencies.
Another challenge is the lack or lower level of financial literacy. This further makes it impossible for people to want to invest in cryptocurrency. 'Access' also plays its role. Lack of crypto knowledge is preventing a large population of people to involve in crypto.

Complexity is another hard nut to crack in crypto-asset challenges. it is not viewed as a simple ecosystem but rather a complex one. Even though in the years to come, the digital asset is speculated to replace fiat currency, only 3% of the global population understand fully well what it means to invest in crypto. The risk and complexity create a large barrier to market participation, hence scaring away the majority of the world's active population.

MARHABA SOLUTION

Marhaba protocol has introduced a governance model. This is to ensure an ideal set halal and inclusive vision. Marhaba implemented a governance board. This is a group of individuals with both institutional, finance crypto, and shariah background and also ethics to ensure the full development of Islam –also the crypto economy.

The Marhaba governance model is divided into three categories:
Marhaba Governance Board(MGB)
Shariah Compliance Board(SGB)
Marhaba Community of stakeholder(MCS)

Before any product can be released to the Marhaba ecosystem, there has to be an agreement between SGB and MGB. So this makes Marhaba a unique ecosystem suitable for the audience with faith-freak. No haram product is available.
Marhaba built a trusted halal ecosystem making it easy for Muslims to be crypto users.

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The approach of Shariah in Islam to allow matters and dealing in s much as they are not involved in prohibited elements. The shariah Governance Board guides the product offering, operation, governance, marketing, and other critical areas of the Marhaba ecosystem from a shariah perspective

MARHABA DEFI; THE GRASSROOT WEALTH CREATION

The Marhaba Defi foundation can support the decentralized economy activity. Marhaba will help drive the biggest transformation in finance.

Islamic finance offers another two-billion-dollar ecosystem of goods, services, and trade that may benefit from the application of NFTs as a transparent, efficient, and immutable means to exchange real tangible tokens.
The Marhaba ecosystem facilitates reliable, transparent, trustless, peer-to-peer transactions. This grassroots empowerment will push Marhaba Defi's value creation down to the bottom of the income pyramid rather than being influenced only by the elite affluence.

HOTCAKE FOR THOSE CAUTIOUS ABOUT CRYPTO-ASSET

Marhaba ecosystem offers a simple and engaging user experience. They very much focus on customer protection, ethic, transparency, and governance

MRHB DEFI; THE FUTURE

Marhaba's end goal is to support active and decentralized governance of specific parameters and algorithms necessary to maintain a halal ecosystem. This will bring greater benefit to the economy and will create value for the token holder.
Marhaba committee is economically aligned with the token holder for long-term sustained platform growth and ethical value creation via future DAO.

Marhaba provides a future for Muslim-also crypto-verse. To moderate the development risk of MRHB protocol, Marhaba is designed to ensure reputable leadership. All the profit and commission generated from the platform retained and re-invest into new platform features, will enhance the token value together and bring advancement to the ecosystem. There is also team compensation alignment.

MARHABA TOKEN

The Marhaba Defi token(MRHB) is the utility token that offers benefits within the Marhaba ecosystem.

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It serves as the primary payment in the ecosystem and will be used as a governance token in the future. The Shariah Governance Board ensure that all the issuance practice, usage, feature current and future benefit are shariah-screen together with the right attached to it.

WRAP-UP

Marhaba will be able to broaden the crypto-verse horizon with their amazing protocol thus bringing advancement to the decentralized economy. People who are not sure about crypto investment will surely be touched after encountering this amazing ecosystem. The platform is easy to navigate with the help of their App (Sahal wallet).

RESOURCES
MARHABA WEBSITE
MARHABA WHITEPAPER

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