GLOBAL: Blade Labs has secured Shariah approval for its platform and is engaging regulators across the GCC as well as in Malaysia as part of its robust expansion plan to bring Halal blockchain-based financial services to key Islamic financial markets. The Ujrah-based framework covers the digitalization and ‘smartization’ of Islamic financial services and products – offered by Blade Labs’ ZeroH platform – which covers, but is not limited to, Murabahah and commodity Murabahah financing, hire purchase agreements as well as Musharakah structures.
Concurrently, the Doha-based fintech start-up is awaiting regulatory licenses from Qatar and the UAE, Co-Founder and CEO Sami Mian tells IFN Fintech, adding that it is also in discussion with regulators in Bahrain and Malaysia to pilot new projects in the respective jurisdictions. The start-up is expecting to launch a pilot through Qatar Financial Centre’s Digital Assets Lab this month, with an announcement with a local Islamic bank and auto company due “relatively soon”.
