Crowdfunding Platform Qardus Opens Shariah Financing to Small Businesses, Having Raised GBP 320,000 to Date

The first small business Islamic finance platform in the United Kingdom, Qardus, intends to orchestrate the raising of GBP 2.5 million worth of funding through 2022.This Shariah-compliant financing option is available to all business (not only Muslim-owned ones), as long as their operations are socially progressive.

Why it Matters?

Small and medium-sized enterprises that wish to comply with Shariah principles are an underserved market in Britain, as Shariah options of financing are limited. The Muslim population in Britain stands at around 3.3 million, and a significant portion of this population seeks funding for small businesses. Founder of Qardus, Hassan Daher, said that because of the prevalent low interest rate environment, investors are seeking...