Mnaara.com, a London-based fintech startup that offers investors access to global private funds while adhering to Islamic finance principles, has completed a USD 500,000 pre-seed round funded by investors from the United Kingdom, the United States, the Middle East, and Singapore.
Mnaara’s all-digital investment platform, scheduled for release later this year, will provide users with equitable access to international private markets that adhere to Shariah.
In addition to earning money from interest, the funds adhere to stringent Shariah screening guidelines that restrict and control unethical activities in Islamic finance, such as gambling, tobacco, alcohol, and arms sales. Financial best practices are also adhered to when using financial derivatives and excessive leverage.
Read More: Shariah-compliant investment platform Mnaara raises pre-seed funds
