Sharia assurance for the lending hub's P2P model
Riyadh – The Lending Hub, a pioneering peer-to-peer crowdfunding platform, announces that its business model has been reviewed and certified as Sharia-compliant by Shariyah Review Bureau (SRB). This certification marks a significant milestone in The Lending Hub's commitment to providing Islamic-compliant financial solutions for finance applicants and investors in Saudi Arabia.
The peer-to-peer lending industry in Saudi Arabia is experiencing rapid growth, driven by the Kingdom's Vision 2030 and the Financial Sector Development Program's focus on fintech innovation. With increased demand for alternative financing solutions, The Lending Hub addresses a crucial market need by facilitating financial transactions in a Sharia-compliant manner, connecting investors and finance applicants in a seamless and secure manner. The platform offers financing solutions that simplify access to capital while providing investors with a transparent, risk-conscious investment channel. Commenting on the certification, Fahad Al Mudaiheem, CEO of The Lending Hub, stated, 'Receiving Sharia certification from SRB is a critical achievement for us. This validation strengthens our mission to provide financial solutions that align with Islamic finance principles, ensuring trust, integrity, and compliance for all our users.' With this Sharia certification, The Lending Hub is set to redefine the crowdfunding and alternative financing landscape in Saudi Arabia. The platform's compliance with Islamic financial guidelines ensures that investors and finance applicants can engage with confidence, knowing that their financial transactions adhere to Sharia principles.
Shariyah Review Bureau, regulated by the Central Bank of Bahrain, is a global leader in Sharia advisory and certification services. The firm has built a strong reputation for enabling financial institutions and fintech companies to navigate and maintain compliance with Islamic finance standards. Speaking about the certification, Yasser S. Dahlawi, CEO of Shariyah Review Bureau, remarked, 'We are pleased to certify The Lending Hub's P2P financing model as Sharia-compliant. As the fintech ecosystem continues to evolve, we are dedicated to supporting companies like The Lending Hub in ensuring their solutions adhere to Islamic financial principles while fostering financial innovation.'
For more information you can visit The Lending Hub's website: https://www.thelendinghub.sa/
For all Shari'a Advisory related queries, you can contact hashim@shariyah.com
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