UK: StrideUp, a London-based Islamic financial services provider, has closed its first public securitization transaction – a GBP308 million (US$405.51 million) deal aiming to reconnect Islamic home finance with mainstream capital markets.
Named Meridian Funding 2025-1, the deal is the first Shariah compliant securitization transaction backed by home purchase plans that has been issued since 2018. The funds raised are from institutional investors who have committed to purchasing certificates backed by StrideUp’s portfolio of Halal home finance contracts.
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