First Sharia Compliant Peer
to Peer Platform receives DFSA regulation
Beehive P2P Ltd recently announced the regulation of its Sharia compliant peer to peer finance platform by the Dubai Financial Services Authority (DFSA). As part of the regulatory requirements, it has appointed Shariyah Review Bureau (SRB) to supervise the Sharia Supervisory Board, Certification and Sharia Audit functions for its P2P Islamic platform.
“Beehive’s deepening commitment to the Middle Eastern region relies on our people and proprietary technological platform. Obtaining DFSA regulation of our Sharia compliant P2P financing model is a primary example of the investment made by Beehive to provide regional clients with locally relevant Islamic investment opportunities while effectively facilitating financing to SMEs,” said Craig Moore, Founder and CEO, Beehive. “Islamic financing is a core component of our business and is ideal for small and medium sized businesses that want to secure fast and affordable finance in compliance with their faith. We are confident that the new regulation by the DFSA and partnership with SRB, will enhance our Sharia processes and maximize our Sharia compliance visibility.”...Keep Reading