Yes, Ethereum Staking is certified as Shariah Compliant.
Luno’s independent Shariah advisor, a registered Shariah advisory company with the Securities Commission of Malaysia (“SC”), Amanie Advisors (“Amanie”) has thoroughly reviewed Ethereum Staking to ensure Shariah compliance.
Note
The certification only applies for Ethereum (ETH) Staking that is offered by Luno. Customers will experience no changes in ETH staking, all functions will remain as it is.
How does Luno ETH Staking work and what is the Shariah contract?
Customers who own Ether with Luno Malaysia and opt for Luno Ethereum Staking service shall appoint Luno Malaysia as their agent, acting on its behalf to deal with the Custodian and Staking Provider to manage and utilise the customers’ Staked Ether for staking activities which in return, customers are potential to earn potential rewards through an additional of Ether.
The appointment of the Luno Malaysia as the agent via its platform service for the staking activities shall be based on Shariah principle of Wakalah bi Al Istithmar (an investment agency contract)