UK’s Ayan Capital secures £25m to democratize halal financing
London-based Islamic car financing provider Ayan Capital has secured up to £25 million in Shariah-compliant financing facility to strengthen its foothold in the sector.
Ayan Capital aims to deploy the latest funding – secured from private credit firm Partners for Growth – to accelerate growth and scale tech-led underwriting capabilities, the company said in a statement on Wednesday. The funding is based on Ijara wa Iqtina (lease and ownership) principles.
The company is looking to expand access to halal finance across the UK, targeting £25 million in financing in 2025 and £100 million next year. The company aims to secure a UK banking license in the long-term.
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