TheCarCrowd is delighted to announce that its alternative investment model has been reviewed and certified as Sharia compliant by the Shariyah Review Bureau (SRB), marking a significant milestone for the UK-based company. This certification underscores TheCarCrowd’s dedication to offering ethical investment opportunities in the burgeoning market of classic cars, ensuring alignment with Islamic finance principles.
At the heart of TheCarCrowd’s operation is a unique fractional investment platform, focusing on the world of classic cars as passion assets. By acquiring collector cars and offering up to 1,000 shares per vehicle, TheCarCrowd democratizes access to this exclusive asset class, enabling investors globally to hold a stake in rare and appreciating automotive history. The Car Crowd have expertise in deploying private capital into investible classics as well as sourcing rare and collectable cars for global alternative investment platforms. “Receiving Sharia certification from SRB not only diversifies our investor base but also reinforces our commitment to providing inclusive and ethically grounded investment opportunities,” said David Spickett, CEO of TheCarCrowd. “Our mission is to connect people with their passion for classic cars, offering a transparent, regulated, and now, Sharia-compliant path to investment.”
The Shariyah Review Bureau, a leading Sharia advisory firm, has been instrumental in this process, offering comprehensive Islamic financial solutions that align with Shari’a standards. With a distinguished track record in certifying and auditing a wide range of financial products and services, SRB ensures that TheCarCrowd’s investment model and operations comply with Sharia law, thereby catering to a broader audience seeking ethical investment opportunities.
Yasser S. Dahlawi, CEO of the Shariyah Review Bureau, expressed his enthusiasm for the collaboration, stating, “Our partnership with TheCarCrowd exemplifies our commitment to expanding the scope of Sharia-compliant investment avenues available in the market. It’s a pleasure to support TheCarCrowd in aligning their unique collectible business model with Islamic financial principles, further enabling access to ethical investments in the classic car sector.”
This certification from SRB opens new doors for TheCarCrowd, inviting investors from around the world to explore the lucrative and passionate world of classic car investments within a framework that respects ethical and religious considerations. As TheCarCrowd continues to innovate and expand its platform, the Sharia compliance certification is a testament to its inclusive, ethical approach to investment in one of the world’s most timeless asset classes.
