- Madfu has obtained Sharia Certification from Shariyah Review Bureau, ensuring that its financial services comply with Sharia principles.
- Madfu focuses on providing Buy Now Pay Later (BNPL) solutions for the travel, tourism, and entertainment sectors, allowing customers to easily purchase services and products with deferred payments.
- Dr. Ahmed Alwosheel, the CEO of the company, confirmed that the goal is to offer convenient financial solutions that are also Sharia-compliant.
Madfu, a Saudi startup providing Buy Now Pay Later (BNPL) solutions, announces obtaining Sharia Certification from Shariyah Review Bureau
Madfu, a Saudi-based startup specializing in providing Buy Now Pay Later (BNPL) solutions, has announced that it has received Sharia Certification from Shariyah Review Bureau. This recognition aligns with the company’s efforts to offer financial solutions in compliance with Islamic law.
Founded in 2023, Madfu focuses on providing BNPL services for key sectors such as travel, tourism, and entertainment. Through this service, the company enables customers to purchase products or services now and pay for them later, enhancing individuals’ ability to access various services easily.
Madfu aims to meet the needs of both the Saudi and global markets concerning Islamic finance, ensuring that all of its financial operations comply with Sharia laws and standards. By obtaining the Sharia Certification, the company reaffirms its commitment to providing safe and reliable financial solutions to customers while maintaining the highest service standards.
Dr. Ahmed Alwosheel, CEO of Madfu, commented, “Our goal has always been to provide financial solutions that are not only convenient but also Sharia-compliant. With the growing demand for Buy Now Pay Later (BNPL) services in Saudi Arabia, we wanted to ensure that our offerings align with Sharia principles, enhancing trust among users. Our partnership with Shariyah Review Bureau (SRB) has been instrumental in achieving this, as their extensive experience in Sharia supervision for fintech companies provided us with the necessary certification and assurance.”
