How We Help Clients
The Sharia compliant payment solution model entails dealing with varying entities ranging from small, midmarket, and large merchants to varying banking and economic segments. Naturally, operating costs, regulatory mandates, digital disruption, and compliance management are a huge concern. To add to that the heated pressure of Sharia compliance. It is here we help payment solution companies profoundly augment their performance by outsourcing the Sharia certification and all external Sharia assurance levers.
How We Help Clients
Our work with large scale services companies that offers payment gateway (as well as world-class credit cards) has helped us develop deep expertise in Sharia compliant payment solutions. We tailor our offerings to the needs of our clients to help them solve complex challenges and reshape their operating models, by using the following services:
- Setting-up and managing Sharia Supervisory Board – An effective board of Sharia scholars has a better understanding of how Sharia compliance can create value for payment solutions and their customers. They also examine market challenges and product design and offer guidance in terms of Islamic principles and how they can create investment value for the payment gateways.
- Designing Solutions – Whether its reviewing merchant transactions, designing a gateway or assessing terminal suppliers Sharia assessment of credit facilities, we help review the most important commercial capabilities and help improve the design with hybrid models of Sharia modalities and classic levers of traditional solutions.
- External Sharia Assurance – We understand the Sharia compliance control environment and can help test payment gateway processes tailored to the risks facing the employed Sharia modalities, the fee structure and the business environment. Thereby providing Sharia assurance on products, transactions and controls with a single reporting standard. This attestation helps ensure that information provided to your stakeholders is reliable and presents a fair picture of Sharia compliance