Sunday, August 1, 2021
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News FlashUK commodity Murabahah platform certified Shariah compliant

UK commodity Murabahah platform certified Shariah compliant

Tullett Prebon’s Fusion Islamic Finance platform has been certified Shariah compliant, confirming the Shariah integrity of its solution.

The commodity Murabahah platform was reviewed and ascertained to be compliant with Islamic principles by UK-based Shariah advisory firm Yasaar.

The platform uses connectivity for integration, straight-through processing, and single-screen access that offers simpler and quicker access to a large variety of commodities. Customers can also connect from third-party data platforms.

Tullett Prebon is part of TP ICAP Group, the world’s largest interdealer broker, which entered the Islamic fintech vertical of trading and investment with its commodity Murabahah platform earlier in February. It joins a space long dominated by well-established names including Eiger Trading, DDCap Group, Bursa Suq Al Sila and Able Ace.

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