UAE's Jingle Pay becomes first Money Service Business with Shariah certification

June 24, 2021 - Jingle Pay, a UAE homegrown money service business, has become the first to offer its customers a world-first hybrid model where customers can choose to open an Islamic account or opt for a conventional alternative. Both accounts require no minimum balances, are fee-free, and can be opened via the Jingle Pay mobile application through a convenient digital onboarding journey.

To ensure its products are fully aligned with Sharia principles, Jingle Pay had assigned Shariyah Review Bureau (SRB) to comprehensively review its Islamic products and services. The successful completion of this review signifies Jingle Pay’s intent and commitment to offer Sharia-certified products to the market.

Amir Fardghassemi, the Co-Founder and CEO of Jingle Pay said “We are very proud to receive this Sharia Certificate, and to be able to use the opportunity we have to simultaneously address financial exclusion and offer Sharia compliant products to the communities we serve. This certification provides the highest assurance of the compliance of our products and services with Islamic principles to our end-users.  We will continue to work together with SRB as we build, develop and rapidly expand in the region.”