Tamra Capital Collaborated with Shariyah Review Bureau

Tamra Capital Collaborated with Shariyah Review Bureau
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Tamra Capital, a Saudi financial technology company authorized by the Capital Market Authority, will use robo-advisory technology to give customers affordable and practical access to the world’s financial markets. It collaborates with the Shariyah Review Bureau (SRB) to guarantee that all its business practices, legal agreements, and investment products adhere to Shariah.

As a starting point, Tamra Capital will concentrate on giving goal-based investment options by using global Exchange Traded Funds (ETFs) to provide investment portfolios that are balanced, diversified, and across various asset classes and markets.

Tamra Capital has already made its online debut, and the community has shown a lot of enthusiasm for it. It has the means to promote aspirations as a short-term geographic focus as it prepares to launch a trading mobile app early next year.

Salauldean Jamal Khashoggi, Managing Director of Tamra Capital, stated, “We want to tap the gap we see in the local and regional market where conventional vehicles and other robo-advisory platforms are offering expensive and non-compliant products. Through Tamra Capital’s platform, we will be able to provide ‘faith-centric’ customers cost-effective and convenient opportunities to invest in Sharia-compliant ETFs that cover different asset classes and markets. We wanted all our partnerships to capitalize on their reputation, credibility, and strength. Hence we did not compromise when seeking to partner up with a reputable and esteemed Sharia advisory firm.” He added, “We stand to gain with our engagement with SRB’s who will review all our legal documents, provide ongoing consultation, and conduct periodical audits to provide assurance to our customers and investors.”

The Shariyah Review Bureau offers fully integrated, strategically implemented Sharia advisory solutions that enable Sharia oversight, performance, and faster product licensing. FinTech companies that wish to concentrate on customers who are religious now have an appealing and simple choice. Through its outsourced services, SRB meets this need while keeping the expense of Shariah overheads for these fintechs to a minimum. The start-ups can gain from SRB’s broad exposure to the financial market as well.

Yasser S. Dahlawi, CEO of Shariyah Review Bureau, commented, “Our appointment by Tamra Capital reflects a growing interest in the region to facilitate investment strategies using robo-advisory services; a practice that we see will shape the asset management sector in the coming years. Unlike traditional investing platforms, robo-advisors automate the investing process by relying on algorithms and other data to build and manage customer portfolios. Being the first fintech in the Kingdom, we are excited to partner with them for Sharia advisory, certification and Audit services.”

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