Dutch investment pioneer launches Sharia-compliant digital asset fund

Adgully Bureau |

Netherlands-based investment firm, The Growth Capital, has partnered with Shariyah Review Bureau (SRB) as its Sharia advisor to oversee its investment activities in digital assets, particularly cryptocurrencies, through the TGC Trading Fund.

Established with the aim of providing faith-centered investors the opportunity to invest in digital assets, The Growth Capital views digital assets as catalysts for revolutionary changes in global finances. Omid Rahimi, CEO, emphasized the company's commitment to leveraging its full licensing in the Netherlands to bring about positive transformations in the financial investment community. Obtaining Sharia compliance certification is a significant milestone for The Growth Capital, enabling the company to offer the Muslim community exposure to digital assets with regulatory adherence and Sharia assurance.

In the Netherlands, cryptocurrency transactions are permitted, and there are minimal barriers for virtual asset service providers (VASPs) entering the market. The Growth Capital has proactively established a fund dedicated to investing solely in Sharia-compliant cryptocurrencies, employing a long-term appreciation strategy. Omid Rahimi highlighted the collaboration with SRB, citing their extensive experience working with asset managers, blockchain, and fintech companies as a strategic move to focus on private Islamic investors and provide them exposure to Sharia-compliant digital assets.

SRB, renowned for its end-to-end Sharia advisory solutions, offers centralized services for Sharia supervision, functionality, and swift product certification. This approach not only streamlines the process for global Islamic financial establishments and fintech startups but also reduces overheads associated with Sharia scholarly tasks. Yasser S. Dahlawi, Founder and CEO of SRB, acknowledged the growing trend in the investment community towards alternative investments in the digitized asset class, emphasizing how SRB's Sharia assessment of the assets, controls and audit services align with the unique nature of non-traditional products. Dahlawi concluded by expressing how their collaboration with The Growth Capital supports the firm in maintaining focus on critical investment functions while ensuring ongoing Sharia compliance