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Algorand Foundation Announces Sharia Certification for Islamic Financial Markets Inclusivity

Algorand Foundation Announces Sharia Certification for Islamic Financial Markets Inclusivity

The Algorand Foundation, the organization that oversees the Algorand blockchain platform delivering speed and scalability for frictionless finance, today announced that the network is certified for Sharia compliant financing.

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the public, permissionless, and open source Algorand blockchain to create an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.

Recognizing the importance that the Islamic financial markets bring to the global economy, the foundation enlisted the Shariya Review Bureau (SRB) as an independent Sharia Advisor to ensure the network complies with the critical procedures of Sharia compliant financing..

“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,” said Steve Kokinos, CEO of Algorand.  “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’s ecosystem has been growing substantially since launching in June of 2019. With the Sharia certification, Algorand is open to Islamic institutions using the platform for economic exchange and beyond.   While each decentralized application built on Algorand will need to be evaluated and vetted for Sharia compliance financing, the Algorand Foundation is retaining the expertise of SRB and is committed to remaining Sharia compliant as new innovation is rolled out on the platform for the financial markets.

Headquartered in Bahrain and licensed by the Central Bank of Bahrain, the Shariyah Review Bureau (“SRB”) has been serving the Islamic financial markets for well over 14 years. With scholars spanning 19 countries its Sharia certification and Sharia audit services are recognized globally. Apart from serving Islamic banks, Takaful firms, asset management institutions it has also been actively engaged with fin-techs like Beehive, Stellar, Raqamyah and Wethaq across variant asset classes. From certifying technologies used in P2P lending, to digitally monetizing undeveloped oil reserves, tokenizing revenue shares of digital assets in luxury hotel real-estates and approving ‘smart contracts’ under the disruptive settlement framework of a Sukuk platform. SRB has been helping entities unlock a new perspective on the future of technology using Islamic financial modalities.

“We are thrilled by technical achievement of the Algorand blockchain and a future of truly scalable and secure blockchain that will serve as a platform for Islamic financial markets to enter the newly emerging borderless economy.,” said Yasser S. Dahlawi, Founder and CEO of SRB. “We are now ready to help institutions seeking to build Islamic transactions on the network have access to expertise required for attaining Sharia compliance in their business facilities.” Yasser added, “High quality Sharia supervisory services are critical to our business and we stand ready to support the future ambitions of the users of Algorand in the Islamic financial market.”

Al Etihad insurance to deliver high impact Sharia compliant products

Al Etihad insurance to deliver high impact Sharia compliant products

One of Saudi Arabia’s largest insurance company, Al-Etihad Cooperative Insurance Company (Al Etihad), with a paid-up capital of SAR 400 million, announced the assignment of Shariyah Review Bureau, which provides an array of Sharia certification and Sharia audit services to the insurance, banking asset management industries.

The new assignment enables Al Etihad to focus its resources and expertise on the rapidly-growing Sharia compliant insurance sector of the Kingdom. “We continue to witness exceptional opportunities in all classes of insurance  with new players across broadening business areas of the Kingdom’s geographical exposure,” says Hussam Abdul Aziz Al Kannas, Chief Executive Officer at Al Ethiad. “Our clients are rapidly transitioning into national players in the Kingdom and Sharia compliance is of paramount importance to our customer base.” “This is the right time to invest in Sharia supervisory infrastructure to address the challenges posed by this dynamic growth,” he adds. ” That’s why we have decided to tie-up with the country’s leading Sharia Advisory firm to ensure we are hundred percent focused on delivering cooperative insurance solutions in compliance with Sharia.”

“The focus on Sharia compliance is a great opportunity to accelerate the growth of our insurance business,” noted Ahmad Omar, Chief Financial Officer at Al Etihad. “We understand how to build and maintain all classes of insurance policies but can benefit from a strategic partner that can help navigate our developments in light of Sharia principles.  SRB has a lot of experience in the cooperative insurance and Takaful sector and can really help us successfully pursue our ambitious goals.”

Whether a company requires product based certifications, full Sharia Board service, on premise Sharia audit solution, or simply wishes to outsource the Sharia compliance management and hosting of their entire review, certification, consultation and Sharia audit functions; Shariyah Review Bureau’s services are designed to accommodate any of these scenarios. Furthermore, leveraging SRB’s scholarly network covering 19 countries, companies gain extensive insight in scholarly resources, ensuring they have the important information on Sharia design and practices when they need it.

“More and more institutions are outsourcing their Sharia Board and Sharia audit processes to us as it helps them lower costs, improve performances and focus on core business competencies,” said Yasser S. Dahlawi, CEO at SRB. “This is because our services are designed to offer greater budget flexibility without any compromise on quality while mitigating the shortage of skill and Sharia expertise in the relevant domain.” Yasser added: “We are delighted to be working with Al Etihad and to help lead their insurance development effort in the Kingdom. We look forward to developing as well as strengthening the Sharia compliance make-up of their products, investments and systems.”

Saudi based Peer-to-Peer Funding Platform Raqamyah signs with Shariyah Review Bureau

Saudi based Peer-to-Peer Funding Platform Raqamyah signs with Shariyah Review Bureau

Raqamyah, the Kingdom’s Peer to Peer funding platform, announced the assignment of Shariyah Review Bureau, to manage the Sharia compliance affairs of its crowd-funding technology.

Ammar Bakheet, Founding Partner and Chief Executive Officer of Raqamyah, said, “It is high-time for the  Kingdom’s financial sector to explore opportunities offered by fin-tech firms to serve the SME’s segment.” “At Raqamyah we are proactively looking to augment our capabilities in developing faster ways of connecting funders with SME’s and also enact the spectrum of SAMA’s regulations in the Kingdom.”

Speaking about Sharia compliance Mr. Ammar added, “For us, Sharia compliance is instrumental in achieving success. This proposition can help enhance Islamic values by challenging the way a financial transaction is formulated, and providing Sharia assurance to our stakeholders.”

Mr. Ammar further stated, “We are delighted to have a globally recognized Sharia advisory firm like Shariyah Review Bureau (SRB) managing our Sharia compliance affairs. Their addition is expected to significantly enhance our capabilities in positioning our fin-tech firm for further growth. We expect SRB to complement and enhance our existing Sharia control functions, allowing us to provide superior Islamic financial services to our customers.”

Shariyah Review Bureau, founded in 2004 in the Kingdom of Saudi Arabia and licensed by Central Bank of Bahrain in 2007 provides Sharia advisory services from setting up Sharia Boards to Sharia certification and Sharia audits to over 100 financial institutions including fin-tech firms. “We believe in bringing a well-balanced approach of examination, verification and testing in our Sharia compliance management so as to operate in an increasingly complex Islamic financial environment” said Yasser S. Dahlawi, CEO and Founder of SRB.

Speaking on the engagement with Raqamyah, Yasser commented, “Being assigned by Raqamyah allows us to become the preeminent choice of Sharia Advisor for P2P firms seeking to offer its crowd-funding opportunities in the Kingdom.”

Yasser ended by stating, “Our Sharia advisory services are well positioned to address the critical and complex Sharia control requirements needed by fin-tech firms to offer Sharia compliant versions of their products and also meet the robust expectations of the regulated Islamic industry in which we operate.”

Lendo integrates Sharia supervisory services of Shariyah Review Bureau

Lendo integrates Sharia supervisory services of Shariyah Review Bureau

Saudia-based Lendo which is seeking to provide peer to peer financing in compliance to Shariah today announced that it has engaged Shariyah Review Bureau (“SRB”) to help support its Shariah supervisory function by overseeing its offerings, crowdfunding structures and operations.

Lendo committed to operating with the highest degree of commitment to Sharia compliance and engaging a top-tier independent Shariah advisory firm that the stakeholders can trust its peer to peer activities are in compliance to the principles of Shariah. “We are committed to maintaining Shariah oversight and controls of our Islamic transactions” said Osama Al Raee, Co-Founder & CEO of Lendo. “A Sharia supervisory review and audit on our product, services and operations by a well-known local Sharia advisory company will allow us to confirm the efficiency of our Sharia control processes for management bodies, investors and customers. We expect Shariyah Review Bureau to contribute to the further optimization and improvement in Sharia supervisory oversight and help us optimize our Sharia risk management system based on their experience with similar firms.”

Lendo  has been working to acquire it license in SAMA’s sandbox regulation while continuing to focus on developing peer to peer funding practices in light of Shariah compliance. “Today, fin-tech firms have a growing need to support Sharia supervisory programs, onboard new Sharia audit partners, and improve Sharia compliance,” said Mohammed Jawabri, Founder & COO at Lendo. Commenting on the newly assigned Shariah advisory firm he stated, “their services are designed to help us optimize the Sharia compliance function for our P2P offering while significantly reducing the burden on our internal Sharia supervisory resources. Given their experience and track-record in serving fin-tech firms they will also support us with industry-leading insights from a Sharia compliance perspective, providing Lendo  with comprehensive and scalable options to meet its needs now and in the future.”

SRB is regulated by the Central Bank of Bahrain and has become a global leader in professional Shariah advisory and Shariah audit services, serving clients from the banking to asset management to insurance and fin-tech industry. SRB is considered as one of the most respected Shariah advisory firms in the region. “Creating long-term relationships with the stakeholders of our clients has always been at the core of our business” said Yasser S. Dahlawi, Founder and CEO of SRB. “we will work with Lendo  to improve their Sharia compliance processes, review Sharia oversight procedures for P2P financing, tighten Sharia transactional controls and eliminate any potential for future non-compliant leakage.” Yasser added, “another area of focus will be to evaluate and optimize existing Sharia control procedures and business processes to ensure they supply well-grounded Sharia structural guarantees of implementation for their respective peer to peer control tasks.

Elite Icon Trust (EIT) to digitalize global real estate opportunities with Sharia compliance in AIFC

Elite Icon Trust (EIT) to digitalize global real estate opportunities with Sharia compliance in AIFC

Elite Icon Trust (EIT) to digitalize global real estate opportunities with Sharia compliance in AIFC.

Liechtenstein based company Elite Icon Trust is seeking to pioneer a Sharia compliant Global Real Estate Digitalization program.  It assigned Shariyah Review Bureau (SRB), a Middle-Eastern Sharia advisory firm regulated by the Central Bank of Bahrain, to review its project and business activities in light of Sharia principles. After receiving their approval, Elite Icon Trust is now preparing to scale-up its business by securing an operating license  “EIT DIGITAL ASSETS Ltd” at Astana International Financial Centre (AIFC); a financial hub in Nur-Sultan, Kazakhstan.

AIFC jurisdiction is based on U.K. Law & is a symbol of modern Kazakhstan. The China Development Bank along with reputable Chinese international corporations are located in the AIFC as Kazakhstan is the Central Asia’s buckle of China’s Belt and Road Initiative.

EIT Founder & CEO of EIT Digital Assets Ltd Marius Jedlickij said: “EIT intends to disrupt the global real estate market, starting with luxury hotel rooms. We wanted to cater to the evolving need of Islamic investors in this age of digitization and hence created a Blockchain platform whereby through a clever use of smart contracts, the investor is entitled to room revenue sharing arrangement from luxury hotel rooms which are in different geographical locations”

Commenting on the leadership of AIFC, Marius added, “We would like to share our sincerest appreciation to CEO  Mr. Nurlan Kussainov. It is under such professional team management AIFC is rapidly becoming a safe and prosperous Financial Hub of Central Asia.’’

EIT Digital Assets Ltd COO & Co-Partner Mr. Altay Dostanov said: “Our major aim is Real Estate Digitalization in light of Sharia principles, thus more important is to connect Young Technology minded Talented Brains to the mutual benefits and our Targets achievement.

Shariyah Review Bureau (SRB) which has been very active in supporting Fintechs in Shariah compliance, foresees much development to follow in all sectors of Finance. Digitization of platforms which use Blockchain and smart contracts, help eliminate costs tied to third-party involvement, speeds up the process and adds to the overall efficiency of the business model.

“Sharia Supervisory services have become more critical, requiring an increasing amount of committed resources, improved availability and enhanced product structuring expertise,” said Yasser S. Dahlawi, Founder and CEO of SRB. He points to its year-over-year growth as evidence of this growing trend in Sharia Board outsourcing. In just three years, SRB has tripled its customer base, and is now widely considered as the largest Sharia Advisory institute services company in the Kingdom of Saudi Arabia and Bahrain. The company serves more than tens of thousands of transactions ranging from mid-market investment companies to the top insurance and asset management firms. Yasser adds “Our goal is to be a Sharia advisory leader for financial institutions seeking to maintain and offer Islamic financial investments, which means excelling in meeting the needs of our clients like Elite Icon Trust.

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Extra to deliver more value with Sharia compliant Financing Products

Extra to deliver more value with Sharia compliant Financing Products

United Electronics Company (“Extra”) is Saudi’s largest consumer electronics retail firm and its wholly-owned consumer finance unit – United Company For Financial Services (Tas’heel Finance) was licensed by the Saudi Arabian Monetary Authority (SAMA) to provide consumer finance services in the Kingdom.

Tas’heel Finance today announced Shariyah Review Bureau (“SRB”) as its Sharia Advisor to help setup and supervise its products that comply with Sharia principles.

“Placing our customers first has been our core belief, and is a living reality at Extra” said Mohammed Galal, MD & CEO of Extra. “Today, Extra is on its way to opening a consumer financing arm so as to provide holistic solutions to customers to enrich their lives and fulfill their aspirations by providing a variety of tailor-made Sharia compliant financing options.”

Engaging a Sharia Advisor will allow Tas’heel Finance to include advanced Sharia compliance products and increase the ongoing supervision and Sharia compliance assurance for its customers. Commenting on the assignment of a global Sharia advisory firm, United Company For Financial Services (Tas’heel Finance) CEO, Muzaffer Hamid stated, “This engagement with the Shariyah Review Bureau adds yet another impetus to our vision.” “They have been serving nearly 37% of the Financing companies in the Kingdom of Saudi Arabia, and this has helped them acquire immense knowledge and experience in the financing domain.” Muzaffer added that “Our arrangement will now help us garner a deeper and thorough understanding of Sharia compliant requirements in financing instruments and help us drive larger strategic initiatives for our faith based customers.’’

SRB has spent over a decade providing some of the most successful financing institutions, family businesses and investment firms with trusted Sharia advice ranging from product structuring to real-estate funds, equity deals, structured investments, insurance and financing transactions.  SRB has all the characteristics financial institutions seeking to offer Sharia compliant products are looking for an international scale of Sharia scholarly expertise, a dedicated team of Sharia consultants and Sharia auditors, a proactive Sharia supervisory approach, a licensed entity regulated by the Central Bank of Bahrain, and a DNA that puts perfection at the heart of its Sharia advisory chain.

Yasser S. Dahlawi, Founder and CEO of SRB is excited about the addition of Tas’heel Finance as yet another Finance Company in its clientele base. “Tas’heel Finance is seeking to create a niche for itself by building a customer centric approach to lending and offering digital solutions to its customers. With Sharia certified products they now have the opportunity to enable their customers and the community at large to grow and realize their dreams.”

“Our engagement with Tas’heel Finance further strengthens our market presence in the Kingdom and reflects the significant demand from institutions for our dedicated Sharia advisory solutions” added Yasser.

SAICO to increase customer engagement with Sharia Compliance Offerings

SAICO to increase customer engagement with Sharia Compliance Offerings

A leading insurance provider, Saudi Arabian Insurance Company (SAICO), today signed the Sharia advisory agreement with Shariyah Review Bureau to strengthen and grow its core insurance business in light of Sharia principles. The arrangement is targeted at certifying and maintaining  products, investments and insurance growth opportunities in compliance to Sharia in the year 2019 and beyond.

SAICO is on upward journey path and is exploring new avenues of growth in the Kingdom’s insurance sector. “This is an exciting time for SAICO, as we launch into our next phase of growth,” said Hasan Abdullah Bin Dorar, Chief Executive Officer and President at SAICO. “Over the years we have built a fabulous portfolio of insurance offerings, and we now have a constructive opportunity to combine these with Sharia compliant solutions to address the value based business needs of our customers.” The appointment of Shariyah Review Bureau to head up the Sharia compliance management of SAICO’s business in Saudi Arabia, is a reflection of the company’s commitment to its growth journey. Hasan added, “We expect Sharia compliance to supplement our growth and we will continue to explore new opportunities in the Kingdom that fit our strategy and proven track record.”

“SAICO continues to grow and now we are planning to grow strategically using Sharia compliant products as our experience shows that this is the real need of our customers,” said Mohan J. Varghese, CFO, SAICO. “This is why we are drawing connections with SRB to address our Sharia compliance administration thereby giving us an competitive edge in offering Sharia compliant insurance. We will also continue to work closely with our customers to ensure we are providing optimum support for their growing needs.”

The rapid development in the Cooperative Insurance sector has made the outsourcing of Sharia certification and Sharia audit today much more accessible for both small and large insurance firms. Shariyah Review Bureau’s experience shows that large institutions concentrate on inner Sharia resources and cost reduction, while small firms require access to quicker scholarly resources or specialized expertise so as to move faster and acquire new opportunities. SRB sets up tailor-made Sharia advisory solutions for insurance companies giving them  efficiency and better understanding of Sharia compliance management.

There are two main objectives for outsourcing Sharia Board services, first is affordability and second is the quality of service. Speaking on this Yasser S. Dahlawi, CEO and Founder of SRB said “Outsourcing Sharia Board and Sharia audit services actually reduces operating costs on Islamic insurance firms as they do not have to invest in scholars, review officers, Sharia auditors and headcount since we take care of all these functions thereby allowing them to focus on their core competencies. At the same time, the insurance firms get local access to global Sharia expertise through our platform.”

“We remain committed to continuing to provide the highest level of Sharia advisory services to our clients and we are looking forward to reviewing SAICO’s products, investments and operations that will help them provide business continuity with Sharia compliance.”

MedGulf enhances transformational strategy with Sharia Review Bureau

MedGulf enhances transformational strategy with Sharia Review Bureau

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) today announced a multi-year agreement with Shariyah Review Bureau (SRB) for its Sharia audit services as part of its Sharia compliant transformation strategy.

Under the agreement, SRB will review and audit MeGulf’s cooperative Health, Motor, Property and other insurance and reinsurance products along with its investments and operations that enhance the quality and controls of the company in light of its Sharia Board’s guidelines. SRB will use its industry-leading Sharia  audit practices to help MedGulf establish more standardized Sharia controls and reduce non-compliance exposure. “MedGulf has been working hard to enhance its insurance processes, from product development, coverage facilities, employee support, administration, service quality, and customer satisfaction” said Dr. Tarek Al-Naeem, MedGulf’s Chief Executive Officer “We have had an equal level of focus on improving Sharia compliance at both the product and operational level but to truly enable MedGulf’s transformation, we are independently seeking to leverage on leading Sharia audit practices.”

“This is why we selected SRB because of its track record for delivering large Sharia audit projects in the Kingdom that deliver meaningful business outcomes for the insurance companies.”

“As part of their scope they will also be strengthening the Sharia controls required to manage our equity in light of Sharia financial thresholds. We expect this to increase our degree of confidence in scaling-up as MedGulf seeks to grow vertically in the Kingdom. This approach will help drive success while providing our stakeholders an independent assurance of true Sharia compliance at MedGulf,” Dr. Tarek added.

Sharia audit services provided by organizations like Shariyah Review Bureau helps improve the management of Sharia compliance and scalability. With more and more firms assigning independent Sharia assurance the trends of Sharia audit services are likely to grow to new heights in the future.  Yasser S. Dahlawi, Founder and CEO of Shariyah Review Bureau said, “Helping MedGulf achieve its strategic transformation goals in light of Sharia compliance is an important area of focus for SRB.” “We’re delighted to be chosen by MedGulf to support the firm in its drive to enhance Sharia compliance using international best-disciplines through our Sharia audit practice.”

Commenting on the Sharia audit service Yasser added “It has taken us a lot of time and resources to continuously upgrade our Sharia audit assurance service.” “We have worked for years to create a comprehensive service which caters to different pillars of the insurance companies.”

Ebdaa Bank to introduce the next horizon of Sharia compliant products with Shariyah Review

Ebdaa Bank to introduce the next horizon of Sharia compliant products with Shariyah Review

Ebdaa Bank for Microfinance; a microfinance institution licensed by the Central Bank of Bahrain to provide Credit opportunities to Limited-income people and Micro-Business owners, today announced that it has signed with Shariyah Review Bureau to setup the Sharia Supervisory Board, certify and supervise its upcoming Sharia compliant Products, and provide on-going advice and support to enhance the bank’s ability to adopt the best sharia compliant processes and procedures. The innovative products will comprise high quality financing characteristics in line with Ebdaa’s vision to boost socio-economic development of communities in the Kingdom of Bahrain in a shariah complaint manner.

“There is an increasing demand by our customers for micro-products that express personal faith values,” said Khaled Al Gazawi, CEO of Ebdaa Bank. “That’s why at Ebdaa, we have decided to offer wide-ranging funding opportunities compliant with faith based aspirations. Moving forward, a stronger attention will be given to designing Sharia-Compliant products that responds to the aspirations of our clients. Furthermore, a deeper look at the current processes and procedures to match this forward thinking will be our focus in the coming few months”  added Khaled.

“Here in the Kingdom of Bahrain, Sharia compliant products and services has gone mainstream, and today more and more customers are looking to pursue positive change with Islamic financial modalities,” said Ghaith Al-Munem, Operations Manager, Ebdaa Bank.  Commenting on the new products, he added “We will work with Shariyah Review Bureau (SRB), a leading Sharia Advisory firm licensed by the Central Bank of Bahrain, to implement a set of aspirational Islamic financial principles that underpins the framework for integrating Sharia compliant factors into our products financing criteria and operating practices. These guidelines will not only be aligned with Sharia principles but also the goals and values of Ebdaa’s poverty alleviation vision.”

For over thirteen years, Shariyah Review Bureau’s business has been winning and deepening relationships with institutions around the world through its value-focused conversations. As the Kingdom’s only Sharia Advisory firm licensed by the CBB, it has been focusing on innovation in Sharia advisory and Sharia audit solutions. This approach has helped the firm succeed by building a scholarly platform that covers over 17 countries and helps optimize Sharia Supervisory Board services and also help create meaningful solutions for its clients.

“We have strong relationships with institutional investors, Islamic banks and Takaful firms, and we are committed to building deeper impact with those relationships,” said Yasser S. Dahlawi, CEO of Shariyah Review Bureau. “Ebdaa’s poverty alleviation objectives appealed to us because of their focus on social inclusion. By supporting low-income families, empowering and assisting Bahraini women and youth, they provide opportunities to turn ideas into micro-projects which trigger real economic activities” said Yasser.

Speaking on the new engagement Yasser added, “We are delighted to welcome a microfinance bank like Ebdaa  to our clientele base,”

Mauritius Trade Fund to grow with Sharia-compliant offering

Mauritius Trade Fund to grow with Sharia-compliant offering

Skybound Capital, a global wealth management business, is in the process of launching a Sharia-compliant trade finance Fund and has assigned Shariyah Review Bureau (SRB) as the Sharia Advisor for its Islamic Trade Finance Fund. The agreement will see SRB provide technical Sharia consultation, certification and operation monitoring through Sharia audit.

The new Fund is expected to facilitate trade in various jurisdictions and penetrate new markets while attracting Sharia-compliant investors from the Middle East. The Fund facility will comply with the regulatory standards of Mauritius. Skybound has over 30 years of experience in providing a diverse and unique range of investment products for family offices, private clients, advisors and institutions. “We are very pleased to be offering our investors Sharia-complaint financing opportunities while helping to provide more affordable and reliable opportunities to trading business in the Asian countries,” said Lee Dalley, Director of Skybound.  “The Fund will be co-managed by Saudi Arabia  based Derayah Financial, and will be supported by dedicated analysts of 12-strong trade finance team run by South Africa based experts of Skybound.”  Lee added “Given the strategic importance of the Middle East, we are delighted to be working with SRB which has an extensive geographic footprint and over a decade of heritage in providing Sharia advisory services to institutions in the region. With the right Sharia Advisory institute, we feel very confident about our long term Sharia-compliant business development perspectives.”

Shariyah Review Bureau is a Middle East based Sharia advisory firm specializing in providing Sharia supervisory solutions and support services that investment companies, banks and fintech entities can leverage to get their offerings certified and tap Islamic financial markets. Speaking on the industrious revolution SRB is seeking to inspire, Yasser S. Dahlawi, CEO and Founder of SRB added: “Shariyah Review Bureau has successfully certified hundreds of products and funds and supervised thousands of transactions to establish itself as a key player in the Sharia Advisory landscape, while at the same time growing its scholarly capabilities for investors, whether institutional or wholesale.” He added, “I am excited about the future and the role our services will play in helping Sharia-complaint offerings like Skybound Capital’s move from strength to strength and keenly look forward to further building upon recent successes.”

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