It’s hard to think of a more important secondary source of capital in the world than the recent developments in Peer to Peer financing. At its best, the P2P is communicating power to the people, connecting businesses to societies, and allowing enterprises to create informed financial decisions. In the past decade, better technology and an open financial landscape has led to a revolution in how financing transactions are created, invested, and distributed. And given our mission to make Sharia Advisory services accessible and useful everywhere, we want to help ensure that this innovation leads and benefits the world of Islamic finance.
That’s why we’re working with Beehive P2P Ltd, in their new effort as a regulated entity at DFSA (Dubai Financial Service Authority) to empower financial innovation at the intersection of Sharia compliance and technology. We’re tackling this in three ways: by setting up a dedicated Sharia Board comprising of 3 scholars to meet DFSA’s regulatory requirements; by providing helpful Sharia review analysis in the hands of Beehive’s product development team; and through periodical Sharia Audits designed to ensure implementation of Sharia guidelines on some of the biggest opportunities that exist for Beehive’s Islamic Platform today.
We have worked with Beehive’s brilliant technology and platform that is spectacularly empowering the world of Islamic investment and businesses. We see their work as a global effort, with demand for their services in the GCC, Asia, Europe and beyond.
As the financing landscape continues to evolve, we believe we can create a more informed world of enterprises if technologists and financial institutes work together—and we at SRB are excited to be part of the effort.