Shariyah Review Bureau (SRB), a leading Shari’a Advisory firm, announced that it has been assigned by SCS Farmland Ltd (SCS) headquartered in the UK to supervise the Shari’a Compliance process of its upcoming SCS Farmland Investment Program. Recognized for their extensive expertise in assisting clients from around the world to create and govern Shari’a Certified transactions, Funds, and businesses, SRB will work with SCS, to structure their agricultural farmland in light of Islamic guidelines and develop a Shari’a compliant investment in farmland.
Mr. Yasser Dahlawi, CEO at SRB, commenting on the Agricultural businesses said Given that the countries around the world still face a fundamental dilemma in food security we hope that SCS’s agricultural deal will play a key role in capturing bigger agricultural opportunities using Islamic financial modalities thereby pushing global food production to the next stage of development.” “Such Farm land Investments are probably the next big thing for leading Islamic financial institutions looking for commercially viable and new high-potential products. We believe that Islamic markets can learn from this experience and design agricultural land investments concentrated within their own localities thereby creating sustainable economic growth.”
Commenting on the role of SRB, he added “Shariyah Review Bureau specializes in helping clients with Shari’a Compliance in their ideas and businesses. Upon detailed study we will mark the structuring directives & set the guidelines along with parameters and accordingly certify the SCS Farmland Investment Program compliance to Shari’a principles. Upon launch SRB will supervise the transactions and conduct an annual Shari’a audit on all activities of the Program in accord to AAOIFI Standards. “We are delighted to be the Shari’a Advisors for the first of its kind Shari’a compliant Farm investment from Argentina and we hope that Farm Investing deal generates a wealth of interest and investment to flourish in the Agricultural areas of the Islamic Business World”, Mr. Yasser added.
Commenting on the launch, Mr. Stefan Raywood, Project Manager at SCS, said that “In the last decade agriculture has become an increasingly prominent asset class in the financial world due to its stability, lack of correlation with other asset classes, and anti-inflationary tendencies. And given the rapid development of Shari’a compliant products worldwide leaves no doubt that many prospects for exciting growth exist in all sectors of the economy. And this has made us very eager on exploring the tremendous opportunity in the domain of international farmland.” “
He also mentioned that “Farming is a detailed day to day business and to further operate it in light of Shari’a modalities requires a strong scholarly operator with unlimited support and Global Accreditation. And given Shariyah Review Bureau’s international footprint in the world of Islamic businesses we believe they will be a perfect match for us to attain and manage Shari’a compliance.”
