Dubai, UAE — World-first halal decentralized finance (DeFi) platform MRHB (Marhaba) DeFi has announced a partnership with crypto pioneer Masary Capital that will see the launch of crypto retail and institutional investment solutions in the United Arab Emirates and beyond. MRHB is the first DeFi ecosystem platform offering for the Islamic Finance space — a global market worth around USD 3 trillion.
Signees of the agreement included MRHB CEO and Founder Naquib Mohammed and Masary CEO HE Khalil Abdullah. The project will take place in Dubai, one of the sector’s fastest emerging crypto hubs.
The platform provided by MRHB DeFi will include a full-featured ecosystem of eight shariah-compliant DeFi products. Masary Capital, a provider of easy-to-access crypto investments, payments global remittance facilities and other services, will be utilizing MRHB’s products and solutions on their platform. The partnership is aimed at encouraging UAE citizens focused on halal-only services and opportunities to participate in the crypto space.
Masary Capital has said they will provide a place for businesses, institutions and consumers to come together and access DeFi’s full potential for Islamic customers. Their Masary Islamic platform is “Powered by MRHB” suite of products. Masary aims to shape an efficient and productive new financial system by unlocking the transactional efficiencies of blockchain technology.
“We are excited to work together with Masary Capital as their preferred DeFi partner,” said MRHB DeFi CEO Mr. Naquib Mohammed. “Our collaboration will foster retail and institutional growth in the region and support Marhaba’s vision of bringing DeFi to more than one billion people excluded from cryptocurrency finance options due to faith, complexity and lack of access.”
All tokens and projects on the MRHB DeFi platform are halal, vetted by a Shariah Board. Products include interest-free financing, DeFi investments, blockchain startup launchpads and more. All products follow the ethical principles of Islamic Finance, and are completely transparent, secure and decentralized.
A Strong Project and Community Devoted to Fostering Ethical Finance
MRHB DeFi has a strong first-mover advantage, with an already-existing community of more than 70,000 members across Twitter, Telegram and other social media platforms. They opened two pre-launch token sales to their general community, attracting more than 1,000 people around the world who were mostly first-time cryptocurrency investors — including non-Muslims looking for ethical crypto opportunities.
As everything in the MRHB ecosystem is halal, they avoid all business practices, crypto assets, tokens and projects that include any form of social exploitation, usury, gambling and pornography, amongst other prohibitions. In general, Islamic Finance encourages principles that have universal appeal extending beyond the faith-conscious community, such as transparency, sustainability, asset or utility-backed financing and equitable risk-reward sharing. MRHB’s platform is also aligned with many of the United Nations Sustainable Development Goals.
A number of other partners and institutional investors are also collaborating with MRHB DeFi to bring DeFi to the Islamic Finance space. Investors to date include: Mozaic, Australian Gulf Capital, Sinofy Group, Sheesha Finance, NewTribe Capital, Blockchain Australia, Acreditus Partners, Contango Digital Assets, EMGS Group, MKD Capital and a grant from Polygon Technology.
About MRHB DeFi
MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.
About Masary Capital
Masary aims to become a pioneer in providing state-of-the-art seamless blockchain and crypto solutions across all channels of customer interaction and to successfully establish the adoption of crypto-related activities, solutions, payment services and infrastructure in the UAE and GCC.
The innovative and diverse team have key strategic partnerships with industry leaders and is poised to offer the region’s first Emirati-owned crypto super-platform, offering solutions that empower users to harness the investment potential of crypto-assets.
MRHB DeFi Official Channels