EPIC is HALAL MONEY
Independent Sharia Opinion · Fatwa

The Sharia status of EPIC, examined and ruled upon.

On July 1, 2026, Dr. Mohamed Ali Elgari — a leading scholar in Islamic finance — issued an independent fatwa (Certificate No. GARI-51-2026) on Epic Private Internet Cash (EPIC), referred to in the certificate as EPIC Cash, concluding that it constitutes lawful property (māl) whose ownership, mining, and exchange raise no objection under the Sharia. The signed English and Arabic certificates and their initialed term sheets are published here in full.

The Ruling in Brief

Seven findings, under core Sharia principles

The signed fatwa and initialed term sheet examine EPIC Cash under a series of core Sharia principles. A plain-language summary of each finding follows; the signed documents below are the authoritative text.

مالMāl — Property

Lawful property of recognized value

EPIC unites the elements of property in Islamic law: a permissible benefit is sought from it, it holds monetary value in the custom of the people, it is owned exclusively through the private key, and it is freely tradable and transferable.

ثمنThaman — Currency

Fit to serve as a medium of exchange

Among those who accept it, EPIC bears the attributes of money — a store of value, medium of exchange, and unit of account — and may lawfully circulate as currency within that community.

لا رباNo Ribā — Interest

No yield, interest, or staking

The protocol pays no return for merely holding or locking the coin, and it has no staking mechanism. Reward is paid only for performed validation work — its exchange is free of ribā.

لا غررNo Gharar — Uncertainty

Quantity, ownership, and delivery are certain

The term sheet records that the quantity, the ownership, and the delivery of EPIC are certain: the supply is fixed on an immutable emission schedule that no party can alter and is knowable at any moment, ownership is definite through the private key, and delivery is final. It separately records that every unit is equal to and interchangeable with every other, untainted by transaction history.

لا ميسرNo Maysir — Gambling

Acquired by purchase or work, not chance

Units come into existence only through proof-of-work mining — a lawful gain for a service rendered in recording transactions and securing the ledger — or are acquired by purchase.

ستر المالSitr al-Māl — Privacy

Protection of lawful wealth

Confidential by default, with the holder retaining the ability to disclose his or her own transactions selectively — to a counterparty, an auditor, or an authority — whenever he or she wishes.

زكاةZakāt — Obligation

Zakat is due and payable

As it is property, zakat upon EPIC is obligatory, as upon all other wealth. And the currency may not be used in any transaction the Sharia prohibits: the prohibition attaches to the act, not to the asset itself.

“Accordingly, I am of the opinion that EPIC Cash, as described in the annexed term sheet, is lawful property, and that its ownership, holding, mining, exchange, and use as a medium of exchange, among those who accept it, are transactions in which I find nothing objectionable under the Sharia.”

Dr. Mohamed Ali Elgari · Certificate No. GARI-51-2026 · July 1, 2026
The Signed Documents

Signed certificate and term sheets, reproduced in full

The certificate is issued for the approved documents and instruments only. Published here are the signed scans, reproduced without alteration to the scan image content; the source images were placed losslessly into standard PDF containers so the files open normally.

Fatwa · English

Sharia Accreditation Certificate

Signed by Dr. Mohamed Ali Elgari · Certificate No. GARI-51-2026 · July 1, 2026

Download PDF ↓
Fatwa · Arabic

شهادة اعتماد شرعي

Signed Arabic certificate (scan) · Certificate No. GARI-51-2026 · July 1, 2026

Download PDF ↓
Term Sheet · English

Digital Asset Term Sheet

Annex to the certificate · Initialed on every page · 2 pages

Download PDF ↓
Term Sheet · Arabic

مذكرة شروط الأصل الرقمي

Annex to the certificate · Initialed on every page · 2 pages

Download PDF ↓

Integrity notice: the certificate states that it is issued for the approved documents and instruments only and for a single occasion; any amendment, deletion, or erasure to any word, phrase, or sentence renders it cancelled and of no effect. The signed certificate and initialed term sheets above are the authoritative text of the opinion. Publication does not give any person other than Epicenter Labs Ltd a right to rely on the opinion or any claim against the scholar, and the scholar owes no duty of care to any such person. Readers should consult their own qualified advisers.

Accessibility Transcriptions

Text transcriptions of the signed scans, for screen readers and search. Each transcription is for convenience only; it is not the signed instrument. If a transcription differs from the signed scan, the signed scan controls.

Transcription — Sharia Accreditation Certificate (English)

Accessibility transcription for convenience only. This is not the signed instrument. If this transcription differs from the signed scan, the signed scan controls.

[Calligraphic name mark of the scholar appears at the top of the page.]

This Certificate endorses the mentioned product components only. Proper Implementation thereof is the sole responsibility of the end-user.

Certificate No: GARI-51-2026  ·  Date: 01/07/2026

[Calligraphic basmala:] بسم الله الرحمن الرحيم

SHARIA ACCREDITATION CERTIFICATE
Concerning EPIC Cash (EPIC)

الحمد لله رب العالمين، والصلاة والسلام على أشرف الأنبياء والمرسلين، نبينا محمد وعلى آله وصحبه أجمعين، وبعد:

Praise be to Allah, Lord of the Worlds, and prayers and peace be upon the noblest of the prophets and messengers, our Prophet Muhammad, and upon all his family and companions. To proceed:

Epicenter Labs Limited has requested me, the undersigned, in my capacity as an independent Sharia advisor, to render my opinion on the conformity of EPIC Cash with the provisions of the Islamic Sharia. I have examined the characteristics of this currency as set out in the term sheet annexed to this certificate, which I have initialed, and I have considered the analysis submitted in its support.

Upon that Sharia examination, I find as follows. EPIC Cash is lawful property of recognized value, for the elements of property combine in it: a permissible benefit is sought from it, it holds monetary value in the custom of the people, it is owned exclusively through the private key, and it is freely tradable and transferable. It is fit, for those who accept it, to serve as a medium of exchange, and its exchange in itself is free of riba and of gharar. Its units come into existence only through proof-of-work mining, in consideration of recording the transactions and securing the ledger, which is a lawful gain for a service rendered. It bears no yield-bearing deposit (staking), and it yields neither interest nor return by the mere holding of it. It is distinguished by the preservation of privacy and of confidentiality for whoever desires it, while the holder retains the ability to disclose his transactions of his own will whenever he wishes.

Accordingly, I am of the opinion that EPIC Cash, as described in the annexed term sheet, is lawful property, and that its ownership, holding, mining, exchange, and use as a medium of exchange, among those who accept it, are transactions in which I find nothing objectionable under the Sharia.

As it is property, zakat is obligatory upon it; accordingly, zakat upon EPIC Cash is due and payable, as upon all other property. This currency may not be used in any transaction that the Sharia prohibits, for the prohibition attaches to the prohibited act and not to the asset itself. This opinion rests upon the facts set out in the annexed term sheet.

والله سبحانه وتعالى أعلم وأحكم،،، وصلى الله على نبينا محمد وعلى آله وصحبه وسلم

And Allah, glorified and exalted, knows best and is most wise. May the blessings and peace of Allah be upon our Prophet Muhammad and upon his family and companions.

[Signature]

Dr. Mohamed Ali Elgari

Annex — EPIC Cash: Digital Asset Term Sheet (initialed).

Notice: This certificate is issued for the approved documents and instruments only, and for a single occasion. Should any amendment, deletion, or erasure occur to any word, phrase, or sentence in either of them, this certificate is deemed cancelled and of no effect.

Transcription — شهادة اعتماد شرعي (Arabic certificate)

Accessibility transcription for convenience only. This is not the signed instrument. If this transcription differs from the signed scan, the signed scan controls.

[Calligraphic name mark of the scholar appears at the top of the page. Header in English:] This Certificate endorses the mentioned product components only. Proper Implementation thereof is the sole responsibility of the end-user. — Certificate No: GARI-51-2026 · Date: 01/07/2026

بسم الله الرحمن الرحيم

شهادة اعتماد شرعي
بشأن عملة (أبيك كاش) EPIC Cash

الحمد لله رب العالمين والصلاة والسلام على أشرف الأنبياء والمرسلين نبينا محمد وعلى آله وصحبه أجمعين. وبعد:-

أنا الموقع أدناه، بصفتي مستشاراً شرعياً مستقلاً، طلبت مني شركة Epicenter Labs Limited بيانَ رأيي في مدى موافقة عملة (أبيك كاش) EPIC Cash لأحكام الشريعة الإسلامية. وقد نظرتُ في خصائص هذه العملة كما هي مبيَّنة في مذكرة الشروط المرفقة بهذه الفتوى، التي وقَّعتُ عليها بالأحرف الأولى، ونظرت في التحليل المقدَّم في تأييدها.

وبناءً على هذا الفحص، ظهر لي ما يلي: إنَّ عملة (أبيك كاش) EPIC Cash مالٌ متقوِّمٌ له قيمة معتبرة، لاجتماع عناصر المالية فيه إذ فيه منفعة مباحة تقصد ولها قيمة مالية في عرف الناس وتُملك حصراً بالمفتاح الخاص، وهي قابلة للتداول والانتقال بحرية. وهي تصلح لمن يقبلها ان تكون وسيطاً للتبادل، وتبادلُها بحد ذاته خالٍ من الربا ومن الغرر. ولا تُستحدَث وحداتها إلا عن طريق التعدين القائم على إثبات العمل، وذلك عوضاً عن قيد المعاملات وتأمين السجل، وهو كسبٌ مشروع مقابل خدمة مقدّمة. وليس فيها إيداعٌ بعائد (staking)، كما أنها لا تدرُّ فائدةً ولا عائداً بمجرد حيازتها، وتمتاز بحفظ الخصوصية وتحقيق السرية لمن أراد ذلك مع قدرته على الإفصاح عن معاملته بإرادته متى شاء.

وعليه، فإنِّي أرى أنَّ عملة (أبيك كاش) EPIC Cash، بالوصف المبيَّن في مذكرة الشروط المرفقة، مالٌ مشروع، وأنَّ تملُّكها وحيازتها وتعدينها وتبادلها واستعمالها وسيطاً للتبادل (بين من يقبلها) معاملات لا أرى فيها ما يعترض عليه من الناحية الشرعية.

وبحكم كونه مالاً فإن الزكاة واجبة فيه ولذا تكون الزكاة في (أبيك كاش) EPIC Cash واجبة الدفع كما في سائر الأموال. ولا يجوز استعمال هذه العملة في أيِّ معاملة محرَّمة شرعاً، حيث أن التحريم متعلِّقٌ بالفعل المحرَّم لا بالأصل ذاته. ويقوم هذا الرأي على الوقائع المبيَّنة في مذكرة الشروط المرفقة.

والله سبحانه وتعالى أعلم وأحكم،،،

وصلى الله على نبينا محمد وعلى آله وصحبه وسلم.

[التوقيع]

فضيلة الشيخ الدكتور محمد علي القري

(المرفق مذكرة شروط الأصل الرقمي (EPIC Cash) موقعة بالأحرف الأولى)

تنبيه: ((تعتبر هذه الشهادة للمستندات والوثائق المعتمدة فقط ولمرة واحدة وفي حال جرى أي تعديل أو حذف أو كشط لأي كلمة أو عبارة أو جملة في أي منهما تعتبر ملغية وغير سارية المفعول))

Transcription — Digital Asset Term Sheet (English)

Accessibility transcription for convenience only. This is not the signed instrument. If this transcription differs from the signed scan, the signed scan controls.

EPIC CASH — DIGITAL ASSET TERM SHEET
Summary of the Asset and Its Conformity with Core Sharia Precepts

This term sheet summarizes the principal characteristics of EPIC Cash and its conformity with the core precepts of the Sharia.

Requesting Party: Epicenter Labs Ltd
Submitted for review by: Dr. Mohamed Ali Elgari
Date: July 1, 2026

I. Asset Characteristics

AssetEPIC Cash (ticker: EPIC).
ProtocolMimbleWimble.
NatureA decentralized, peer-to-peer digital cash protocol. EPIC performs the three functions of money: store of value, medium of exchange, and unit of account. It is borderless and permissionless.
IssuanceNo issuer. Every unit is mined into existence. The network is fair-launched, and the supply begins at zero.
ConsensusProof-of-work. New units are awarded only to the miner who first validates a block and thereby secures the ledger.
SupplyA fixed maximum of 21,000,000 EPIC, reached in the year 2140, on a decreasingly inflationary emission schedule. The supply at any point is known and cannot be increased by any party. Divisible to eight decimal places.
StakingNone. EPIC has no proof-of-stake mechanism. The protocol provides no means to lock or stake coin for a return.
Yield or interestNone. The protocol pays no yield, return, or interest to a holder for holding or locking coin. A reward is paid only for performed validation work.
PrivacyConfidential by default: transaction amounts are concealed and dealings are not publicly linked. The protocol permits the holder to disclose his own transactions selectively, to a counterparty, an auditor, or an authority.
FungibilityEvery unit is equal to and interchangeable with every other, untainted by transaction history.
Ownership and controlEach holder controls his units exclusively through a private key. Only the key-holder can transfer the associated units.
Code and governanceDecentralized. No central party controls the protocol or can alter its monetary rules. The code is immutable; recorded transactions cannot be reversed, and the supply cannot be inflated.

II. Conformity with Core Sharia Precepts

Mal (property)EPIC is lawful property of recognized value, exclusively owned and transferable.
Thaman (currency)EPIC bears the attributes of money and serves as a medium of exchange within the community that adopts it.
No riba (interest)EPIC pays no yield on holding or locking, and has no staking. A reward is paid for performed work alone.
No gharar (contractual uncertainty)The quantity, the ownership, and the delivery of EPIC are certain.
No maysir (gambling)EPIC is acquired by purchase or by performed work, not by chance.
Acquisition by miningA lawful reward for a rendered service.
PrivacyProtection of lawful wealth (sitr al-mal): confidential by default, yet capable of selective disclosure.

[Each of the two pages bears a page number and the scholar's initials.]

Transcription — مذكرة شروط الأصل الرقمي (Arabic term sheet)

Accessibility transcription for convenience only. This is not the signed instrument. If this transcription differs from the signed scan, the signed scan controls.

مذكرة شروط الأصل الرقمي —(أبيك كاش) EPIC Cash
ملخص الأصل ومدى موافقته للمبادئ الأساسية للشريعة

تُلخّص ورقة الشروط هذه الخصائص الرئيسية لعملة (أبيك كاش) EPIC Cash ومدى موافقتها للمبادئ الأساسية للشريعة.

الجهة الطالبة: Epicenter Labs Ltd
مقدَّمة للمراجعة من قِبَل: الدكتور محمد علي القري
التاريخ: 1 يوليو 2026

أولاً: خصائص الأصل

الأصل(أبيك كاش) EPIC Cash (الرمز: EPIC).
البروتوكول(ميمبل ويمبل) MimbleWimble.
الطبيعةبروتوكول نقدٍ رقمي لامركزي يعمل بنظام الند للند. تؤدّي عملة EPIC وظائف النقد الثلاث: مستودعٌ للقيمة، ووسيطٌ للتبادل، ووحدةٌ للحساب. وهي عابرةٌ للحدود ولا تتطلّب إذناً.
الإصدارلا مُصدِر لها. تُستحدَث كل وحدةٍ بالتعدين. وقد أُطلقت الشبكة إطلاقاً عادلاً، ويبدأ المعروض من الصفر.
آلية التوافقإثبات العمل. ولا تُمنَح الوحدات الجديدة إلا للمُعدِّن الذي يتحقّق أولاً من الكتلة فيؤمّن بذلك السجل.
المعروضحدٌّ أقصى ثابتٌ قدره 21,000,000 EPIC، يُبلَغ في عام 2140، وفق جدول إصدارٍ تتناقص فيه نسبة التضخّم. والمعروض معلومٌ في أي وقت ولا يمكن لأي طرفٍ زيادته. وهي قابلةٌ للتجزئة إلى ثمان خاناتٍ عشرية.
الإيداع بعائد (Staking)لا يوجد. ليس في EPIC آلية إثبات حصّة، ولا يوفّر البروتوكول أي وسيلةٍ لحجز العملة أو إيداعها مقابل عائد.
العائد أو الفائدةلا يوجد. لا يدفع البروتوكول أي عائدٍ أو رِبحٍ أو فائدةٍ للحائز مقابل حيازة العملة أو حجزها. وإنما تُدفع المكافأة مقابل أداء خدمة التحقّق فقط.
الخصوصيةسرّيةٌ بشكل تلقائي: مبالغ المعاملات مخفية ولا تُربط التعاملات علناً. ويتيح البروتوكول للحائز أن يُفصِح عن معاملاته على نحوٍ انتقائي، لطرفٍ مقابلٍ أو مُدقِّقٍ أو جهةٍ معينة.
التماثل وقابلية الإحلالكل وحدةٍ مشاعة ومساويةٌ لغيرها وقابلةٌ للتبادل مع غيرها، غير متأثّرةٍ بالمعاملات السابقة.
الملكية والسيطرةيتحكّم كل حائز في وحداته حصراً عبر مفتاحٍ خاص. ولا يستطيع نقل تلك الوحدات إلا حائز المفتاح.
الشفرة والحوكمةلامركزية. لا يسيطر أي طرفٍ مركزي على البروتوكول ولا يستطيع تغيير قواعده النقدية. والشفرة غير قابلةٍ للتعديل؛ فلا يمكن عكس المعاملات المسجَّلة، ولا يمكن تضخيم المعروض.

ثانياً: الموافقة للمبادئ الأساسية للشريعة

المالEPIC مالٌ متقوِّمٌ ذو قيمةٍ معتبرة، مملوكٌ ملكيةً خالصة وقابلٌ للنقل.
الثمن (النقد)تحمل EPIC صفات النقد وتعمل وسيطاً للتبادل في المجموعة التي يقبلها.
انتفاء الربالا تدفع EPIC عائداً على الحيازة أو الحجز، وليس فيها إيداعٌ بعائد. وإنما تُدفع المكافأة مقابل العمل المؤدَّى وحده.
انتفاء الغررالكمية والملكية والتسليم في EPIC أمورٌ متيقَّنة.
انتفاء الميسرتُكتسَب EPIC بالشراء أو بالعمل المؤدَّى، وليس بالصدفة.
الاكتساب بالتعدينمكافأةٌ مشروعة في مقابل خدمةٍ مقدمة.
الخصوصيةحفظ المال المشروع (سَتْر المال): سرّيةٌ بصورةٍ تلقائية، مع القدرة على الإفصاح الانتقائي.

[تحمل كل صفحة من الصفحتين رقم الصفحة والتوقيع بالأحرف الأولى.]

The Scholar

Dr. Mohamed Ali Elgari

Dr. Mohamed Ali Elgari is a leading scholar in Islamic finance. He is a former Professor of Islamic Economics and former Director of the Centre for Research in Islamic Economics at King Abdulaziz University, and holds a PhD in Economics from the University of California. He is a member of AAOIFI’s Shari’ah Board and of the Sharia board of the Dow Jones Islamic Market Index, and an expert to the Islamic Fiqh Academy of the Organisation of Islamic Cooperation. Over a career spanning four decades, he has advised Islamic financial institutions worldwide and served on numerous Sharia boards.

He rendered this fatwa in his capacity as an independent Sharia advisor, on the basis of the annexed term sheet, which he examined and initialed on every page.

Important Notices

The scope of this opinion

The fatwa published on this site is the independent scholarly opinion of Dr. Mohamed Ali Elgari, rendered at the request of Epicenter Labs Ltd on the basis of the facts set out in the annexed term sheet. It endorses the mentioned product components only; proper implementation thereof is the sole responsibility of the end user.

The opinion was rendered solely on the facts stated in the annexed term sheet, which the scholar assumed to be accurate and complete, and the scholar has no obligation to update it for later changes in fact, market practice, or the Sharia. Epicenter Labs Ltd is the addressee of the opinion; no other person acquires a right to rely on it or any claim against the scholar, and the scholar owes no duty of care to any such person. The opinion does not guarantee any regulatory, commercial, or other outcome, nor the marketability or commercial success of EPIC.

The certificate is issued for the approved documents and instruments and for a single occasion. Should any amendment, deletion, or erasure occur to any word, phrase, or sentence in either document, the certificate is deemed cancelled and of no effect.

The plain-language summaries on this page are provided for convenience only. Where anything on this page and the signed fatwa differ, the fatwa governs.

Document integrity: the signed certificate and initialed term sheets are published as scans, and the certificate provides that any amendment, deletion, or erasure of any word renders it void. SHA-256 hashes of the published files, for confirming that a downloaded copy matches the version published here — English certificate: 1ef726f92244ad715a81d2a01d9af9ed1ea3035ea41b4669829889b9f0489719; Arabic certificate: 3ea3b0665976a037306ded59741193da420357976561d0c0c41e009739f58d0a; English term sheet: 94cde74755fe6c180e7b157036146566578db824f63370660f8f1bf8f7bcdd79; Arabic term sheet: d58c30661a60f8948d02223ea8d5a68643b8f548dbf4865e1ca7e6803e557ae4. The files alone do not independently authenticate their origin or signatures.

Nothing on this website constitutes investment, financial, legal, or tax advice, or an offer or solicitation of any kind. Digital assets are volatile; acquiring them involves risk. Anyone considering a transaction in EPIC should conduct their own due diligence and, where appropriate, consult their own advisors.