Tayyab partners with Shariyah Review Bureau for its Digital Bank Card offerings

May 5, 2021 - Kazakhstan based Fintech start-up Tayyab today announced the launch of their digital Sharia compliant debit cards. It has assigned Shariyah Review Bureau to ensure the underlying modality, its workings and overall structure are in compliance to Shari’a. 

The appetite for Islamic finance products and the support of Kazakhstan government continues to grow, despite the global pandemic challenges. Figures indicate a growth in the volume of non-cash payments in the regions of several  Kazakhstan states. Commenting on the launch, Tayyab's Product Manager Mr. Daniyar Uspanov said “We have a tradition of pro-actively listening to our customers and the Islamic consumer is demanding efficient ways to bank. The Government's initiative to promote Islamic finance has been steadily creating awareness, and our surveys indicate that there is a growing demand for Shari’a-conscious consumers. This is why today we are announcing the launch of Tayyab debit cards. We believe this will provide a combination of benefits, convenience and services that many of our customers have always wanted but with a Shari’a compliant assurance."  

Tayyab, being an Islamic mobile only financial app, allows its customers to issue Islamic Debit cards, facilitate payment and transfers seamlessly from its interface. It positions itself as a lifestyle application providing its users features like prayer timings, adhan notifications, qibla compass, zakat calculator, and local map assistance to halal eateries, ATM and mosques nearby.Speaking on the newly assigned Sharia Advisor, Daniyar added “Shariyah Review Bureau is a respectable Shari'a Advisory firm who has been working with all sectors of the financial landscape in several capacities. We wanted to strengthen the trust of our stakeholders in our offerings and reaching out to them to supervise all affairs of sharia compliance was a natural step."