Forus, a Saudi peer-to-peer lending marketplace announces collaboration with Shariyah Review Bureau
June 15, 2021 - Forus, a Saudi based financial technology platform for financial services, today assigns Shariyah Review Bureau to supervise its Shari’a compliance affairs related to its debt crowd-funding activity.
Forus is a P2P lending marketplace that bridges the gap in SME financing. Through its platform it enables investors to invest in a marketplace of alternative loans targeted towards small and medium businesses. Nosaibah Alrajhi, Chief Executive Officer of Forus said, “Access to finance is one of the biggest obstacles facing the development of SMEs. Platform like Forus are able to conveniently provide financing, bridging the corporate's working capital needs and the investors who are looking for diversification.”
“At Forus we have successfully augmented technological capabilities by developing faster ways of connecting financier with SME’s whilst complying with the requirements and obligations stipulated under the regulations of Saudi Central Bank and SAMA" he added.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Press Release