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Yasser S Dahlawi

Kazakhstan firm enlists SRB for Sharia certification

MANAMA, October 19, 2020

Kazakhstan based Mudarabah Capital has announced the engagement of Shariyah Review Bureau to certify and supervise its investment opportunities.

This is the first such Sharia compliant offering by Mudarabah Capital and one of the first in the country, a company statement said.

“We are excited to offer our investment in a Sharia compliant manner and present access to what the government tenders framework provides. In particular, the Islamic offering enables us to translate our historic record of investment into an even more favourable opportunity given the investment will be transacted using the Islamic Mudaraba modality,” said General Director Ruslan Burkanov at Mudarabah Capital.

“We expect our Sharia compliant program to stimulate further direct investment into our offering by Islamic investors by presenting a pathway of access to a powerful opportunity which complies with Sharia principles for a more diverse array of investors, including small, large family-offices and businesses,” he added.

“Investing and bidding transaction on behalf of nearly $6 million entities to date, Mudarabah Capital’s latest initiative will provide Kazakhstani investors the opportunity to directly invest in government tenders for the first time in a Sharia compliant manner. Investors are looking for innovative platforms and Sharia compliant opportunities," said Timur Rustemov, Chief Executive Officer at Mudarabah Capital.

 "Our company is addressing this dynamic landscape and provides access to the benefits of government tender with value creation for the first time." “By having an organization with the knowledge and experience and the ability to help us attain and comply with Sharia principles, we are certain that our investors will get the Sharia assurance they seek,” he added.

Advising and supervising on the establishment and operation of Mudarabah Capital’s offering is Shariyah Review Bureau one of the leading Sharia advisory firm with an international panel of 31 scholars from 16 countries. In recent years, local growth in Kazakhstan seems to be booming for Sharia compliant offerings as Shariyah Review Bureau has seen more and more companies approaching them to evaluate products and transactions.

“With an extensive track record of serving clients around the world, and having been successfully engaged by banks and financing companies within Kazakhstan since 2015, we are now seeking to move forward and help more institutions transform their products and investments in light of Sharia principles and fill the demand in the investment market,” said Yasser S Dahlawi, CEO at Shariyah Review Bureau.  

“Our firm is looking forward to now auditing and supervising Mudarabah Capital’s investment program.” “By leveraging our scholarly resources and experience in financial transactions, we think that more Islamic investment offerings will help bring growth and innovation to the industry here in Kazakhstan,” Yasser added. – TradeArabia News Service




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