TheCarCrowd's classic car platform achieves Sharia compliance

TheCarCrowd has announced that its alternative investment model has been reviewed and certified as Sharia-compliant by the Shariyah Review Bureau (SRB), marking a significant milestone for the UK-based company. This certification underscores TheCarCrowd's dedication to offering ethical investment opportunities in the burgeoning market of classic cars, ensuring alignment with Islamic finance principles.At the heart of TheCarCrowd's operation is a unique fractional investment platform, focusing on the world of classic cars as passion assets. By acquiring collector cars and offering up to 1,000 shares per vehicle, TheCarCrowd democratizes access to this exclusive asset class, enabling investors globally to hold a stake in rare and appreciating automotive history. The Car Crowd have expertise in deploying private capital into investible classics as well as sourcing rare and collectable cars for global alternative investment platforms. "Receiving Sharia certification from SRB not only diversifies our investor base but also reinforces our commitment to providing inclusive and ethically grounded investment opportunities," said David Spickett, CEO of TheCarCrowd. "Our mission is to connect people with their passion for classic cars, offering a transparent, regulated, and now, Sharia-compliant path to investment."The Shariyah Review Bureau, a leading Sharia advisory firm, has been instrumental in this process, offering comprehensive Islamic financial solutions that align with Shari’a standards. With a distinguished track record in certifying and auditing a wide range of financial products and services, SRB ensures that TheCarCrowd's investment model and operations comply with Sharia law, thereby catering to a broader audience seeking ethical investment opportunities.Yasser S. Dahlawi, CEO of the Shariyah Review Bureau, expressed his enthusiasm for the collaboration, stating, "Our partnership with TheCarCrowd exemplifies our commitment to expanding the scope of Sharia-compliant investment avenues available in the market. It's a pleasure to support TheCarCrowd in aligning their unique collectible business model with Islamic financial principles, further enabling access to ethical investments in the classic car sector."This certification from SRB opens new doors for TheCarCrowd, inviting investors from around the world to explore the lucrative and passionate world of classic car investments within a framework that respects ethical and religious considerations. As TheCarCrowd continues to innovate and expand its platform, the Sharia compliance certification is a testament to its inclusive, ethical approach to investment in one of the world's most timeless asset classes.

Dutch investment pioneer launches Sharia-compliant digital asset fund

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.