MRHB DeFi Partners With Masary Capital to Launch Halal Retail and Institutional Crypto in the UAE

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DUBAI, Unit­ed Arab Emi­rates, Dec. 14, 2021 (GLOBE NEWSWIRE) — MRHB (Marha­ba) DeFi, the world’s first halal and eth­i­cal Decen­tral­ized Finance (DeFi) plat­form, is proud to announce their part­ner­ship with UAE-based cryp­to pio­neer Masary Cap­i­tal to bring DeFi oppor­tu­ni­ties to both retail and insti­tu­tion­al clients in the Unit­ed Arab Emi­rates and beyond, for the first time in the Islam­ic Finance space — a mar­ket esti­mat­ed at around USD 3 tril­lion globally.

The agree­ment was signed between Masary CEO, Mr. Khalil Abdul­lah, and MRHB CEO & Founder, Mr. Naquib Mohammed, in Dubai, UAE, a fast emerg­ing glob­al cryp­to hub for the sector.

MRHB DeFi will be pro­vid­ing an entire ecosys­tem of eight inno­v­a­tive and shari­ah-com­pli­ant DeFi prod­ucts for dis­tri­b­u­tion through Masary Capital’s retail plat­form that pro­vides easy access to cryp­to pay­ments, invest­ments, ser­vices and glob­al remit­tance facil­i­ties. Togeth­er, they will encour­age max­i­mum UAE par­tic­i­pa­tion in the cryp­to space for those con­sumers who are focussed on halal ser­vices and opportunities.

“Our pio­neer­ing cryp­to plat­form will pro­vide a seam­less path for our busi­ness­es, insti­tu­tions and con­sumers to par­tic­i­pate. Our part­ner­ship with MRHB DeFi is aimed at giv­ing access to the full poten­tial of DeFi to our Islam­ic cus­tomers,” said Masary Cap­i­tal CEO, Mr. Khalil Abdul­lah.

Masary Islam­ic is one of the key prod­uct suites of Masary Cap­i­tal that will be “Pow­ered by MRHB”. Under the lead­er­ship of Mr. Khalil, Masary Cap­i­tal aims to unlock trans­ac­tion­al effi­cien­cies of blockchain tech­nol­o­gy to shape a new finan­cial sys­tem that is both high­ly effi­cient and productive.

“We are proud that Masary Cap­i­tal has cho­sen us to be their pre­ferred DeFi part­ner,” said MRHB DeFi CEO Naquib Mohammed. “This part­ner­ship will dri­ve both retail and cru­cial insti­tu­tion­al growth in the region and sup­port our vision of pro­vid­ing DeFi to over 1 Bil­lion peo­ple who find them­selves exclud­ed from the cryp­tos­phere due to faith, lack of access and complexity.”

MRHB DeFi has a Shari­ah Board that vets all tokens and projects before accep­tance on their halal-only plat­form. Users of the plat­form will have access to an ecosys­tem of prod­ucts, includ­ing DeFi invest­ments, inter­est-free financ­ing and blockchain start­up launch­pads amongst oth­ers. All prod­ucts oper­ate in a com­plete­ly trans­par­ent, decen­tral­ized and secure man­ner while fol­low­ing the eth­i­cal prin­ci­ples of Islam­ic Finance.

An Unprece­dent­ed Com­mit­ment to Com­mu­ni­ty and Ethics

With a strong first mover advan­tage, MRHB DeFi has built an active com­mu­ni­ty of more than 70,000 across Twit­ter, Telegram and more. Approx­i­mate­ly 90% of the 1,000 mem­bers who par­tic­i­pat­ed in MRHB’s two pub­lic pre-launch token sales were first-time cryp­tocur­ren­cy investors across the globe — includ­ing non-Mus­lims with a strong inter­est in a more eth­i­cal approach to cryp­to opportunities.

The MRHB ecosys­tem avoids busi­ness prac­tices, tokens, cryp­to assets and projects that include any form of gam­bling, social exploita­tion, pornog­ra­phy and usury of any kind amongst oth­er pro­hi­bi­tions. Islam­ic Finance prin­ci­ples in gen­er­al encour­age projects that sup­port asset or util­i­ty-backed financ­ing, trans­paren­cy, sus­tain­abil­i­ty and equi­table risk-reward shar­ing. These prin­ci­ples have uni­ver­sal appeal far beyond the faith-con­scious com­mu­ni­ty. The project is also aligned with a num­ber of the Sus­tain­able Devel­op­ment Goals set by the Unit­ed Nations.

Masary Cap­i­tal has now joined the host of insti­tu­tion­al investors and part­ners in MRHB DeFi who are on board to bring DeFi inno­va­tion to the Islam­ic finance indus­try. To date, investors include Shee­sha Finance, Blockchain Aus­tralia, Moza­ic, Con­tan­go Dig­i­tal Assets, NewTribe Cap­i­tal, Acred­i­tus Part­ners, EMGS Group, Sino­fy Group, Aus­tralian Gulf Cap­i­tal, 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.

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