Syarah, one of Saudi Arabia’s fastest growing digital automotive platforms, has successfully obtained Sharia certification from Shariyah Review Bureau (SRB) for its financing and vehicle acquisition offerings. The certification confirms that the reviewed offerings of Auto Murabaha, Auto Auction and Used Car Sales, Cash And Financing With Warranty and operational processes have been assessed and found to be in compliance with applicable Sharia rulings and principles.
As part of the engagement, SRB will continue to act as the Sharia advisor and conduct annual Sharia audit to ensure the continued adherence of the certified offering to the Sharia guidelines and controls laid down by the Sharia Board assigned to Syarah.
Syarah has transformed the vehicle purchasing experience in the Kingdom through its fully integrated digital platform, enabling customers to browse, finance, purchase, and receive vehicles through a seamless online process. The platform offers a broad selection of new and used vehicles, financing solutions through licensed financing partners, vehicle inspections, warranty programs, and home delivery services, creating a transparent and customer-centric automotive ecosystem. The certification by SRB reflects Syarah’s commitment to providing customers with solutions that align with Sharia values.
Commenting on the certification, Salah Sharef is the Co-Founder and CEO at Syarah said “At Syarah, we are committed to delivering innovative and customer-focused automotive solutions while ensuring that our financing offerings meet the expectations of customers seeking Sharia compliant products. Partnering with Shariyah Review Bureau reinforces our dedication to maintaining the highest standards of compliance, transparency, and trust.”
Shariyah Review Bureau, is a globally recognized provider of Sharia certification and Sharia assurance services. With more than two decades of experience and a network of internationally recognized scholars from 16 different countries, SRB supports financial institutions, fintechs, investment firms, insurance providers, and corporates across multiple jurisdictions in achieving and maintaining Sharia compliance.
Yasser S. Dahlawi, CEO at SRB added “We are pleased to support Syarah in its commitment to offering Sharia compliant automotive solutions. Our review focused on ensuring that the certified offerings are structured and operated in accordance with established Sharia principles. Through our ongoing Sharia audit program, we will now monitor the business activities.”
