The Shariah Digital Asset Standards Institute (SDASI, “the Institute”) is an independent accreditation and standards body for Shariah-compliant digital assets. It sets the standards, accredits the advisory firms that apply them, and publishes open-source reference smart contracts without charge. The Institute is in active development; this page describes what exists at present and what is being constituted.
Mission
To develop transparent, practical, and globally relevant standards for Shariah-compliant digital assets, and to accredit the firms competent to apply them.
Vision
A digital asset economy in which Islamic finance principles may be applied with clarity, consistency, and trust.
What the Institute does — and does not do
- The Institute accredits advisory firms. It does not itself rule on individual tokens. Determinations of permissibility are issued by qualified persons at accredited firms, within a defined scope.
- The Institute develops standards. It does not operate a ruling service. For a personal determination, consult a qualified mufti or recognized authority. See the guidance for individual readers.
- The Institute’s automated engine advises. It does not determine. It produces a preliminary, advisory assessment; qualified persons review every submission.
- The Institute’s reference contracts are published without charge. They are open-source and independently audited, available to all, whether or not a party engages the Institute’s paid services.
Current stage
The Institute is in its foundational phase (Phase 1 of the roadmap). Accurate representation of this stage is part of how a body concerned with compliance establishes its credibility. At present, the Institute is:
- Constituting the governance bodies and drafting their charters
- Building the scholar and expert network
- Drafting the foundational standards (SDAS-100, 200, 300) for public consultation
- Defining the accreditation programme, the reference-contract library, and monitoring
- Completing the entity’s legal registration
The Institute’s legal registration is in progress. The jurisdiction will be stated here on confirmation. The Institute is not yet an established, registered entity, and will not represent itself as one.
Governance (being constituted)
The Institute is designed to operate through three bodies. Their seats are not yet filled; the following describes their intended remit and the standards governing their composition:
- Shariah Advisory Committee — scholars with expertise in Islamic commercial law and contemporary finance.
- Technical Review Committee — protocol engineers, auditors, and smart-contract specialists.
- Standards Board — senior practitioners from Islamic finance and digital asset markets.
Every member will adhere to published ethics and independence policies, with conflict-of-interest disclosures maintained per review. Members will be published on this page as each appointment is confirmed; the Institute will not state or imply any name before it is confirmed for publication.
For the arrangements that keep the Institute’s functions independent, and that protect the integrity of its funding:
Founding principles
- Standards should be transparent and developed through public consultation.
- Shariah analysis should proceed from an accurate understanding of the technology.
- Determinations should be scoped, evidence-based, and time-bound.
- Guidance must evolve with protocol design and market practice.
- A body that adjudicates upon riba may not be sustained by riba; the integrity of funding is a first-order concern.
Team
The Institute is building its network of scholars, researchers, and technical experts. To join the network, or to express interest in accreditation, please contact us.