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Fintech startup Yielders becomes first to receive Sharia Compliance Certification in UK
UK-based fintech startup Yielders announced that it has successfully completed independent Sharia Certification that was conducted by UKIFC and overseen by prominent scholars in the fintech sector.
Yielders is compliant with FCA regulation and is possessing the experience of reaching across diverse communities. The company provides the opportunity to the public to invest as low as £100 towards buying a share of a crowdfunded property. Becoming the first fully Sharia Certified fintech company in the country, Yielders’ platform investors can be assured that every pound is ethically invested.
“We are delighted to be the first UK fintech company to be Sharia certified. 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 recognized as doing so in a responsible and ethical way that will allow us to reach potential investors for whom this is important too,” Irfan Khan, founder of Yielders and a leading fintech expert, told in a blog post.
The Sharia compliance process was managed completely by UK IFC who undertook their own internal reviews and engaged the scholars as independent experts. The certification has placed Yielders firmly at the cutting-edge of Islamic fintech sector.
“I wish Irfan and his team the best of success in their endeavor, for their sake and for all those who wish to organize their finances and investment according to genuine principles of risk-sharing,” Tarek El Diwany, Islamic Finance Author of “The Problem With Interest” commented.
The fintech firm is focused and committed to generating a return, and they only offer pre-funded investments to the retail crowd.