The IMF highlights potential pain points for Islamic-compliant CBDCs in a new report.
by the International Monetary Fund. The unintended impact of a CBDC may be felt particularly acute in the Islamic banking system.
CBDC design is complicated by prohibitions in Islamic law on usury and speculation. This strongly impacts liquidity management: The prohibition on speculation also “implies that CBDC cannot be used for foreign exchange derivatives transactions.” Meanwhile:
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