High-tech farming to reshape Islamic Investments
US based FreshBox Farms aspires to provide sustainable and quality based high-tech Islamic leasing investment solutions for the Middle Eastern and Asian markets and announces the appointment of Shariyah Review Bureau (SRB) for managing its Sharia compliance
Headquartered in Massachusetts, FreshBox, an entrepreneurial company that develops digitally controlled farming innovations, will offer corporate customers and high-net worth individuals, Sharia-compliant leasing plans and individually tailored investment packages. Commenting on the launch, CEO of FreshBox Farms, Sonia Lo says, “Our high-tech growing containers are the world’s undisputed leader of sustainable agricultural production. One key factor for this achievement has been our focus on continuously improving our high-tech growing protocols. Our precision-farming technology uses big data analysis for every single plant, allowing us to optimize the consumption of variable-rate applications such as water, seeding and fertilizers. Our 320 sq ft (29 sq m) containers use less than 1/2500th the water of conventional agriculture and produce the equivalent yield of up to 20 acres of farmland.”
Speaking about the need for offering Islamic financial investments she adds, “we listen carefully to our customers everywhere in the world with the goal of creating life-long relationships. It is in this context of understanding our customers’ needs that we have decided to offer Sharia compliant investment packages to customers and investors globally. Our investment will offer specialized opportunities regarding Islamic leasing and Sharia compliant unit deals.”
On the assignment of SRB, Sonia comments, “SRB is ranked as one of the most valuable Sharia Advisory brands in the Islamic financial world. With an impressive international portfolio of clients they deliver exceptional and consistent Sharia Consultation and Certification experience irrespective of country or platform. As our trusted Sharia Advisor we look forward to working with them and assisting customers achieve their Islamic financial goals.”
Agri-tech innovations can transform the lives of millions around the world, especially in areas where traditional approaches have fallen short. New digital technologies like those of FreshBox Farms make growing crops more efficient, productive and profitable. By deploying real-time sensory data on soil, water, light and other factors FreshBox allows the growing of more produce with dramatically fewer resources – significantly improving the performance of the organization.
Replying on the appointment, Yasser S. Dahlawi, CEO at SRB states, “We believe that ethically-sustainable investments that comply with Sharia are a key factor for success in today’s emerging world of finance. And the techno-farming segment is perhaps the fastest growing sustainable sector in the agricultural world.” “We expect the digital data innovations of FreshBox and the availability of more elaborate data sets on water and other factors will promote further improvements in precision-farming technology.” He further adds, “we are thrilled to partner with them and are very upbeat about supporting their expansion plans in offering Islamic leasing investment opportunities to customers around the world. At SRB we have been addressing Sharia compliant mandates in the areas of banking, insurance, real-estate, capital markets, and asset management. We understand the industry and its requirements very comprehensively and our team of consultants and global scholars will ensure that we work on FreshBox’s mandates very efficiently.”
Saif T. Shawqi, Assistant Business Developer overseeing the Agricultural and Food Security practice at SRB, states “SRB is positioned to help individuals, corporate firms, businesses of all sizes, governments, and leading ag-tech pioneers like FreshBox Farms seize the opportunities and respond to challenges of global economies. It is through working with international clients that we have successfully build a strong organization — global in reach, with outstanding professionals, capabilities, quality controls, relationship management and scholarly resources at the scale required to do big things. With more than 27 scholars working with us from around the world and a core team of Sharia experts and Consultants we will continue to deliver the same high-quality customer experience across the Sharia compliant business of FreshBox Farms. ”