Mubasher: Bahrain-based CoinMENA has appointed Shariyah Review Bureau (SRB) as an outsourcing facility to manage and supervise the Sharia certification and Sharia audit services for its digital asset platform.
Created to help investors at both the retail and institutional level identify business opportunities for digital assets like Bitcoin, Ethereum, and Ripple, CoinMENA aims to meet the investors standards for long-lasting returns by allowing them to buy, sell, and hold digital diversified Sharia-compliant assets, according to a statement by SRB.
“Getting certified as Sharia-compliant is another milestone in CoinMENA’s dedication to client excellence and becoming the leading blockchain and digital assets company in the MENA region”, said Dina Samaan, cofounder and chief operating officer at CoinMENA.
“Seeking the Sharia certification and working with the Shariyah Review Bureau, which has extensive experience working with fintech firms, allows us to increase our focus on the private Islamic investors’ space by offering them a universe of stable Sharia-compliant digital assets with the potential of growth and low volatility,” she added.
Meanwhile, the Founder and CEO of SRB, Yasser Dahlawi, said: “Our experience shows that overall compliance savings resulting from outsourcing Sharia Board and Sharia audit services equate to 33-35% compared with the cost of doing the same function in-house.”
“We see a whole new league of opportunities arising in the world of Islamic fintech and digital trading,” the CEO stated.