Institutional Crypto in the UAE
DUBAI, United Arab Emirates, Dec. 14, 2021 (GLOBE NEWSWIRE) — MRHB (Marhaba) DeFi, the world’s first halal and ethical Decentralized Finance (DeFi) platform, is proud to announce their partnership with UAE-based crypto pioneer Masary Capital to bring DeFi opportunities to both retail and institutional clients in the United Arab Emirates and beyond, for the first time in the Islamic Finance space – a market estimated at around USD 3 trillion globally.
The agreement was signed between Masary CEO, Mr. Khalil Abdullah, and MRHB CEO & Founder, Mr. Naquib Mohammed, in Dubai, UAE, a fast emerging global crypto hub for the sector.
MRHB DeFi will be providing an entire ecosystem of eight innovative and shariah-compliant DeFi products for distribution through Masary Capital’s retail platform that provides easy access to crypto payments, investments, services and global remittance facilities. Together, they will encourage maximum UAE participation in the crypto space for those consumers who are focussed on halal services and opportunities.
“Our pioneering crypto platform will provide a seamless path for our businesses, institutions and consumers to participate. Our partnership with MRHB DeFi is aimed at giving access to the full potential of DeFi to our Islamic customers,” said Masary Capital CEO, Mr. Khalil Abdullah.
Masary Islamic is one of the key product suites of Masary Capital that will be “Powered by MRHB”. Under the leadership of Mr. Khalil, Masary Capital aims to unlock transactional efficiencies of blockchain technology to shape a new financial system that is both highly efficient and productive.
“We are proud that Masary Capital has chosen us to be their preferred DeFi partner,” said MRHB DeFi CEO Naquib Mohammed. “This partnership will drive both retail and crucial institutional growth in the region and support our vision of providing DeFi to over 1 Billion people who find themselves excluded from the cryptosphere due to faith, lack of access and complexity.”
MRHB DeFi has a Shariah Board that vets all tokens and projects before acceptance on their halal-only platform. Users of the platform will have access to an ecosystem of products, including DeFi investments, interest-free financing and blockchain startup launchpads amongst others. All products operate in a completely transparent, decentralized and secure manner while following the ethical principles of Islamic Finance.
An Unprecedented Commitment to Community and Ethics
With a strong first mover advantage, MRHB DeFi has built an active community of more than 70,000 across Twitter, Telegram and more. Approximately 90% of the 1,000 members who participated in MRHB’s two public pre-launch token sales were first-time cryptocurrency investors across the globe – including non-Muslims with a strong interest in a more ethical approach to crypto opportunities.
The MRHB ecosystem avoids business practices, tokens, crypto assets and projects that include any form of gambling, social exploitation, pornography and usury of any kind amongst other prohibitions. Islamic Finance principles in general encourage projects that support asset or utility-backed financing, transparency, sustainability and equitable risk-reward sharing. These principles have universal appeal far beyond the faith-conscious community. The project is also aligned with a number of the Sustainable Development Goals set by the United Nations.
Masary Capital has now joined the host of institutional investors and partners in MRHB DeFi who are on board to bring DeFi innovation to the Islamic finance industry. To date, investors include Sheesha Finance, Blockchain Australia, Mozaic, Contango Digital Assets, NewTribe Capital, Acreditus Partners, EMGS Group, Sinofy Group, Australian Gulf Capital, MKD Capital and a grant from Polygon Technology.
About MRHB DeFi
MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.
About Masary Capital
Masary aims to become a pioneer in providing state-of-the-art seamless blockchain and crypto solutions across all channels of customer interaction and to successfully establish the adoption of crypto-related activities, solutions, payment services and infrastructure in the UAE and GCC.
The innovative and diverse team have key strategic partnerships with industry leaders and is poised to offer the region’s first Emirati-owned crypto super-platform, offering solutions that empower users to harness the investment potential of crypto-assets.
MRHB DeFi Official Channels
Telegram Announcements: https://t.me/marhabadefi_ANN
Telegram (Arabic): https://t.me/mdf_arabic
Telegram (Russian): https://t.me/marhabadefi_russia
Telegram (Turkish): https://t.me/MarhabaDefiTR