Tuesday, 02 January 2024 12:17 GMT

Manama ATME And Shariyah Review Board Collaborate To Advance Tokenization In Islamic Finance


(MENAFN- Mid-East Info) -p

The partnership agreement was signed during Fintech Forward 2025 by Alaa Al-Shuwaikh, Chief Risk Officer of ATME and Raafat Al Shalabi, Assistant General Manager of Shariyah Review Board. Through this partnership,ATME will leverage its regulated platform to facilitate capital raising through real-world asset tokenization for companies engaged in Sharia compliant finance.[fa1] Meanwhile, SRB will extend its Sharia advisory, certification, and Sharia audit expertise to ensure that projects conducted on the ATME platform adhere to rulings governing Islamic finance.

On the occasion, Alaa Al-Shuwaikh, Chief Risk Officer at ATME, remarked,“Our collaboration with SRB adds a critical layer of Sharia credibility to ATME's platform. As we introduce new models of portfolio diversification and capital formation through tokenization, aligning with Islamic financial principles is essential to address the requirements of regional investors and businesses. This initiative allows us to expand with offerings that resonate with the values of these markets.”

Shariyah Review Bureau, licensed and regulated by the Central Bank of Bahrain, is one of the region's most trusted Sharia advisory firms. With over 20 years of experience, it provides Sharia Supervisory Board and audit services to banks, insurers, asset managers, fintech startups, and blockchain projects, ensuring alignment with AAOIFI standards and global best practices.

Raafat Al Shalabi, Assistant General Manager at Shariyah Review Bureau, added,“SRB has long supported innovation that respects the boundaries of Sharia. This collaboration with ATME stems from our progressive approach to digital Islamic finance using Real World Asset (RWA) Tokenization and our desire to shape a Sharia-compliant future for blockchain-based financial products. Working together, we seek to foster a more ethical and accessible ecosystem for investors seeking Sharia assurance in tokenized assets.”

As the Islamic finance sector explores new frontiers in the digital economy, this cooperative agreement signals a timely convergence of Sharia-driven finance and blockchain innovation, advancing efforts towards a more inclusive and ethically grounded financial landscape.

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