Melbourne, Australia, Oct 1, 2021 — DeFi had a wildly successful run in 2020, having surged more than 400% with a total value locked (TVL) of over $50 billion. As DeFi continues to grow, MRHB DeFi has an opportunity to lead the charge into the Muslim world.
With almost 2 billion adherents to Islam, there is a strong demand for an ethical, inclusive, halal DeFi protocol that can promise an equitable and just way of doing business in a decentralized space.
Fresh to the MRHB DeFi family of investors is NewTribe Capital, a Venture Capital Private Equity Group. NewTribe Capital shares MRHB’s views on the value of ethics-based investing. With an “Invest in People” mentality, Dhaval Parikh, a Partner at NewTribe Capital explained, NewTribe prioritizes investing in relationships, not mere deal making.
Alongside NewTribe are Dubai-based Acreditus Partners, UAE-based Sheesha Finance and EMGS Group, a team that wants a set of core, moral values ingrained into DeFi services, that MRHB will provide, that ensures shariah-compliant fair business practices.
Through these strategic investments and partnerships, the Marhaba network grows and gains access to more capital, network and other resources to work towards its vision.
Acreditus offers Marhaba new corridors tapping into angel capital and unique expertise. Additionally, Sheesha has backing from Alphabit, Galaxy Digital and partnerships with TeraBlock, Base Protocol, Zignaly Plasma Finance and Royale Finance, among others, strengthening Marhaba’s access to a more diverse and rich network in the space. Lastly, EMGS lends its vast access to local expertise on a global level to connect with different investors and projects.
Halal-DeFi is still a new marketplace with neither the size nor buzz to overtake current DeFi big leagues. Marhaba’s collective partnerships, with NewTribe being the seventh, highlights the demand for ethical protocols in decentralised finance.
For now, with strategic investment partnerships with groups like NewTribe, Acreditus, Sheesha and EMGS, Marhaba has the potential to grow and reach out across the global market, potentially becoming the progenitor to the first, Halal-DeFi ecosystem in the world.
About MRHB DeFi
MRHB DeFi is a halal, decentralised 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.
Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Shariah into those tenets of blockchain to render a suite of offerings. It is a complete DeFi ecosystem whose products, protocols and crypto-assets are governed primarily by the ethical, inclusive, sustainable and charitable investment principles associated with the Islamic faith or ‘Islamic Finance’ (‘IF’ as it is commonly known).
The diverse team is comprised of 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.
Read more about MRHB DeFi’s Shariah Concept Paper, Lite and White Paper here.
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NewTribe Capital Official Channels