Riyadh – Mubasher: Kazakhstan based Mudarabah Capital announced the engagement of Shariyah Review Bureau (SRB) to certify and supervise its investment opportunities.
This is the first-of-a-kind Sharia-compliant offering by Mudarabah Capital and one of the first in the country, according to a press release on Monday.
“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,” said Mudarabah Capital’s general director, Ruslan Burkanov.
Mudarabah Capital’s Sharia-compliant programme is expected to stimulate further direct investment into the company’s offering by Islamic investors, Burkanov noted.
Investing and bidding transaction on behalf of nearly $6 million entities so far, Mudarabah Capital’s latest initiative will offer 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. Our company is addressing this dynamic landscape and provides access to the benefits of government tender with value creation for the first time," remarked CEO at Mudarabah Capital, Timur Rustemov.
In recent years, local growth in Kazakhstan seems to be booming for Sharia-compliant offerings as SRB has witnessed 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 SRB CEO, Yasser S. Dahlawi.
