Is Mirror Protocol (MIR) Halal or Haram?
Last screened: April 2026 · Reviewed against AAOIFI Shariah Standards
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HARAM — Mirror Protocol
Synthetic stock protocol — creates tokens that mirror real-world stock prices
Screening Criteria
- Technology innovation ✅
- Synthetic stocks without ownership ❌
- Margin collateral required ❌
- Interest on collateral ❌
- Derivatives without real asset delivery ❌
Scholar’s Note
Mirror Protocol creates synthetic tokens that track real stock prices without actual ownership of the underlying assets. This is a derivative instrument — subject to strict Islamic finance restrictions. Combined with collateral interest mechanics, Mirror Protocol is classified as haram.
⚠ This screening is for educational purposes only. For a binding religious ruling (fatwa), please consult a qualified Islamic scholar (mufti) familiar with your specific circumstances.
Our Screening Methodology
We screen every cryptocurrency against 5 criteria derived from AAOIFI Shariah Standards and scholarly consensus:
- ✓ No Riba — No interest-bearing mechanisms or yield that resembles usury
- ✓ No Gharar — No excessive uncertainty or deception in the token’s structure
- ✓ No Maysir — No gambling mechanics or purely speculative mechanisms
- ✓ Genuine Utility — The asset serves a real economic or technological purpose
- ✓ Halal Business — The underlying project does not facilitate haram activities
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