Latest news with #YasserS.Dahlawi
Mid East Info
24-03-2025
- Business
- Mid East Info
Riyadh – Madfu Secures Sharia Certification for its BNPL Solution. - Middle East Business News and Information
Madfu, a leading Saudi-based Buy Now, Pay Later (BNPL) solutions provider, has received Sharia certification from Shariyah Review Bureau (SRB), affirming that its BNPL solution offerings comply with Islamic finance principles. This certification reinforces Madfu's commitment to providing Sharia-compliant BNPL solutions, in alignment with the Kingdom's vision of fostering financial inclusivity through innovative fintech services. Madfu operates under the Saudi Central Bank (SAMA) supervision and intends to play a key role in the Kingdom's rapidly growing fintech sector. Designed to alleviate financial pressures on individuals while supporting business growth, Madfu offers a transparent and flexible BNPL model that enables consumers to make purchases with clear and transparent pricing, ensuring no hidden fees or interest in accordance with Sharia principles, with payment plans extending up to six installments. The company's services are structured to benefit both customers and merchants, facilitating seamless transactions that promote financial well-being. Dr. Ahmed Alwosheel, CEO of Madfu, commented, 'Our goal has always been to offer financial solutions that are not only convenient but also sharia-complaint. With the increasing demand for BNPL services in Saudi Arabia, we wanted to ensure that our offerings align with Sharia principles, fostering trust among users. Our engagement with SRB has been instrumental in achieving this, as their extensive experience in Sharia supervision for fintech companies provided us with the necessary certification and assurance.' Shariyah Review Bureau, a global leader in Sharia advisory and audit services, has been at the forefront of facilitating compliance for fintech firms. Its centralized Sharia advisory solutions support technology-driven financial companies, reducing compliance overheads while ensuring adherence to Islamic finance principles. Yasser S. Dahlawi, Founder and CEO of Shariyah Review Bureau, stated, 'The Kingdom of Saudi Arabia is witnessing significant growth in its fintech ecosystem, particularly in digital payment solutions. BNPL models have gained traction as they provide consumers with an accessible and interest-free alternative for managing expenses. We are pleased to support Madfu in its journey to offer a Sharia-compliant BNPL service, reinforcing trust and credibility in the evolving financial landscape.' With the BNPL sector in Saudi Arabia expanding rapidly, Madfu's Sharia certification marks a significant milestone in promoting sharia complaint and interest-free financial solutions. By ensuring compliance with Islamic financial guidelines, Madfu is well-positioned to drive further growth and innovation in the Kingdom's fintech industry.
Zawya
24-03-2025
- Business
- Zawya
Madfu secures Sharia certification for its BNPL solution
Riyadh – Madfu, a leading Saudi-based Buy Now, Pay Later (BNPL) solutions provider, has received Sharia certification from Shariyah Review Bureau (SRB), affirming that its BNPL solution offerings comply with Islamic finance principles. This certification reinforces Madfu's commitment to providing Sharia-compliant BNPL solutions, in alignment with the Kingdom's vision of fostering financial inclusivity through innovative fintech services. Madfu operates under the Saudi Central Bank (SAMA) supervision and intends to play a key role in the Kingdom's rapidly growing fintech sector. Designed to alleviate financial pressures on individuals while supporting business growth, Madfu offers a transparent and flexible BNPL model that enables consumers to make purchases with clear and transparent pricing, ensuring no hidden fees or interest in accordance with Sharia principles, with payment plans extending up to six installments. The company's services are structured to benefit both customers and merchants, facilitating seamless transactions that promote financial well-being. Dr. Ahmed Alwosheel, CEO of Madfu, commented, 'Our goal has always been to offer financial solutions that are not only convenient but also sharia-complaint. With the increasing demand for BNPL services in Saudi Arabia, we wanted to ensure that our offerings align with Sharia principles, fostering trust among users. Our engagement with SRB has been instrumental in achieving this, as their extensive experience in Sharia supervision for fintech companies provided us with the necessary certification and assurance.' Shariyah Review Bureau, a global leader in Sharia advisory and audit services, has been at the forefront of facilitating compliance for fintech firms. Its centralized Sharia advisory solutions support technology-driven financial companies, reducing compliance overheads while ensuring adherence to Islamic finance principles. Yasser S. Dahlawi, Founder and CEO of Shariyah Review Bureau, stated, 'The Kingdom of Saudi Arabia is witnessing significant growth in its fintech ecosystem, particularly in digital payment solutions. BNPL models have gained traction as they provide consumers with an accessible and interest-free alternative for managing expenses. We are pleased to support Madfu in its journey to offer a Sharia-compliant BNPL service, reinforcing trust and credibility in the evolving financial landscape.' With the BNPL sector in Saudi Arabia expanding rapidly, Madfu's Sharia certification marks a significant milestone in promoting sharia complaint and interest-free financial solutions. By ensuring compliance with Islamic financial guidelines, Madfu is well-positioned to drive further growth and innovation in the Kingdom's fintech industry. For more information on Madfu, you can visit their website
Zawya
11-03-2025
- Business
- Zawya
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: For all Shari'a Advisory related queries, you can contact hashim@
