Saudi Arabia-based fintech platform MONEYMOON achieves Sharia certification, redefining peer-to-peer financing with innovative, Islamic-compliant solutions.
MONEYMOON earns Sharia certification for its P2P financing platform, empowering Saudi Arabia with innovative, Islamic-compliant financial solutions
SAUDI ARABIA, November 26, 2024 /EINPresswire.com/ -- Saudi Arabia based, MONEYMOON, a new peer-to-peer financing fintech platform in the region, is proud to announce receiving Sharia certification, from Shariyah Review Bureau (SRB). The platform innovatively simplifies the borrowing and financing experience, enabling individuals to engage in financial transactions that are compliant with Islamic finance principles.
The fintech industry in Saudi Arabia is burgeoning, with a substantial growth trajectory supported by Vision 2030 and the Financial Sector Development Program's emphasis on financial sector innovation. MONEYMOON creatively addresses a crucial gap in the market by offering a peer-to-peer financing framework that empowers individuals with immediate, hassle-free financial solutions and low-risk investment. This platform uniquely combines high-end technological innovation with financial inclusivity, aligning perfectly with the Kingdom's strategic objectives.
Abdulmajeed Alaskar, CEO & Founder of MONEYMOON, expressed his enthusiasm about the certification, "Our collaboration with Shariyah Review Bureau is a pivotal step towards aligning our operations with Sharia standards. This recognition reassures our users of the integrity and compliance of our financial solutions, allowing them to transact with confidence and ease."
Shariyah Review Bureau, regulated by the Central Bank of Bahrain and a stalwart in the Islamic financial advisory arena, brings to the table a wealth of experience and an extensive portfolio of compliance and certification services. This partnership underscores SRB's dedication to fostering innovations that contribute positively to the Islamic financial ecosystem.
Yasser S. Dahlawi, CEO of Shariyah Review Bureau, commented on the collaboration, "We are delighted to certify MONEYMOON, a P2P financing platform that joins the Sharia compliant fintech landscape in Saudi Arabia. Our ongoing efforts to ensure Sharia compliance will continue to support MONEYMOON's commitment to providing innovative financial services as it scales the market."
With this Sharia certification, MONEYMOON is set to redefine the financial transactions landscape, making Islamic compliant financing more accessible to individuals across Saudi Arabia and potentially beyond.
For more information on MONEYMOON, you can address to Abdulmajeed@moneymoon.sa. For all Shari’a Advisory related queries, you can contact hashim@shariyah.com
Mohammed Bashir
Shariyah Review Bureau
+973 1721 5898
email us here
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