Tabby, a leading ‘Buy Now Pay Later’ solution provider secures Sharia approval

Sep 6, 2021 - Tabby, one of the leading Buy Now Pay Later provider in the region signs up with Shariyah Review Bureau to ensure its payment solutions offered in the Kingdom of Saudi Arabia are congruent to the principles of Shariah.   

tabby's deferred payments solution which is offered to online and offline stores and merchants in Saudi Arabia and the UAE, make shopping more rewarding by empowering people with the flexibility and free-dom to get what they want now, and pay later without interest or fees. Since its inception last year, it has partnered up with over +3,000 global brands and small businesses, to gain loyal customers by offering easy and flexible payments online and in-store. tabby founders aim to empower customers to benefit from the flexible buy now pay later scheme online as well as in-store,” With a strong presence in UAE & Saudi Ara-bia, we are continuing to expand our services to the rest of the GCC countries" said Abdulaziz Saja the General Manager of Tabby, KSA, ”Our solution integrates seamlessly with reputable merchant stores al-lowing their customers to shop conveniently with interest-free instalments. And as we rely on Shariah prin-ciples as our reference and guide to commit to our mission and values, we had our instalment plan inde-pendently certified by Shariyah Review Bureau with yearly Shariah audit in place to ensure ongoing Shariah compliance" he added.  

Regulated by Central Bank of Bahrain, Shariyah Review Bureau has been providing Shariah advisory and Sharia audit services to institutions from multiple industries. Their Shariah advisory and audit services add valuable expertise and Shariah assurance to non-banking institutions, software solution providers and fintech firms.   

Yasser S. Dahlawi Founder and CEO of Shariyah Review Bureau said "These past few years we have seen 'Buy now Pay Later' services emerging in the region with an objective to serve the consumer base by en-couraging them to shop online while not paying interest or use credit-cards. The pandemic has certainly brought new financial products in line with consumers buying behaviour. We are delighted to be supervis-ing tabby’s BNPL offering in light of Shariah principles and rulings. Through securing Shariah certification, they re-affirm assurance to their end-users and investors of Shariah compliance."  

Copyright Press Releases 2021

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