Saudi based fintech, IBDA Real Estate platform facilitating listing and investment opportunity in real-estate properties receives Shari’a certification from Shariyah Review Bureau (SRB) for its offerings.
Waleed albawardi – Founder & CEO at IBDA Real Estate platform said “IBDA Real Estate platform provides a groundbreaking platform allowing property owners to list their properties for sale or opt for a unique usufruct right sale. Owners can now sell either a portion or the entirety of their property to a group of buyers or choose to retain ownership while selling the usufruct rights for immediate liquidity. This dual-service approach caters to the diverse financial needs of property owners and investors, setting a new standard for secure and Shari’a-compliant real estate investments in the thriving Saudi Arabian market.”
The real estate market in Saudi Arabia has witnessed significant interest from investors seeking lucrative shari’a compliant opportunities. IBDA are playing a pivotal role in reshaping the landscape of real estate investments, providing secure, transparent, and Shari’a-compliant solutions that align with the values and principles of investors in the region. Commenting on Sharia compliance, Waleed albawardi said “We wanted to work with a Sharia advisory firm that had considerable experience working real-estate investments and fintechs that automated the end-to-end process. Shariyah Review Bureau fit our requirements easily due to their diverse clientele experience and provided the legal comfort as they are regulated by the Central Bank of Bahrain.”
Headquartered in Bahrain and licensed by the Central Bank of Bahrain, Shariyah Review Bureau has been serving the Islamic financial markets for more than 19 years. With scholars spanning 19 countries its Sharia certification and Sharia audit services are recognized globally. Apart from serving Islamic banks, Takaful firms, asset management institutions it has also been actively engaged with fin-techs, blockchains and crypto-operators; certifying technologies, P2P lending services, tokenization of assets and reviewing ‘smart contracts’ for platforms offering digital sukuk.
On this occasion, Yasser S. Dahlawi, CEO of SRB stated, “Such digitised initiatives work towards the convenience of both the real-estate owners and the retail-investors who are looking for perpetual returns. The Shari’a certification and audit adds value to the offerings, and we look forward to working with the IBDA’s team helping them maintain Sharia compliance and confidence for all its stakeholders.”