Crowdfunding platform becomes Sharia-certified

Crowdfunding platform becomes Sharia-certified

Crowdfunding property investment platform Yielders has secured full Sharia certification from the UK Islamic Finance Council (UKIFC).

Launched in April 2016, Yielders specialises in pre-funded investment opportunities with pre-defined rental incomes, enabling investors the chance to start earning returns almost immediately.

The London-based platform now claims to have become the first fully Sharia-certified fintech company in the UK, following lengthy internal reviews by the UKIFC.

Irfan Khan, co-founder at Yielders, said: “While it says much about our business ethos and ethics, it also demonstrates our place as a dynamic player in the UK Islamic finance sector.

“We are dedicated to what we do and to be recognised as doing so in a responsible and ethical way that will allow us to reach potential investors for whom this is important too.”

In November, Al Rayan Bank revealed there may be a gap in the market for Sharia-compliant peer-to-peer lenders.

Tarek El Diwany, author of Islamic finance title ‘The Problem with Interest’, added: “In the field of real estate, the development of a widely available equity-based financing model has been a prized objective of Islamic financial professionals for at least three decades.

“In recent years, developments in communications technology and financial innovation have made this objective more attainable, by lowering barriers to entry and making the process of origination and fund aggregation more cost efficient.

“All of this makes it a very exciting time to be involved in the fintech field, in the real estate sector and beyond.”

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