Algorand (ALGO)'s CEO Steve Kokinos, has issued a new announcement and declared that its services are fully compliant with sharia.

“I am pleased to hear of this certification by the Algorand Foundation and SRB to ensure that the Algorand network is available to be used by all. Our vision at Algorand has always been inclusivity. With the rapid growth of the Islamic financial markets, I am excited that forward-thinking Islamic enterprises will now be able to realize new business opportunities on a platform that is congruent to their finance guidelines."

Algorand was able to obtain a special certificate to show that the services it offered were in compliance with Sharia.

Considering the importance of the Middle East market in particular, the company management explained that people in these countries can easily use Algorand. In collaboration with Shariyah Review Bureau in Bahrain, Algorand will check whether the platform is Sharia-compliant.