EFCO Limited Collaborates with Bahrain’s Shariyah Review Bureau for Islamic Financing Products in New Zealand

New Zealand-based financial services company EFCO Limited (EFCO) has received Shariah certification from Shariyah Review Bureau (SRB), which is a Bahrain-based Shariah advisory firm licensed by the Central Bank of Bahrain, according to media reports.

EFCO is integrating Shariah compliance into its assets and debt-based products. The collaboration will allow SRB to oversee and supervise the Shariah-compliant aspect of EFCO’s asset financing and personal loans.

According to media reports, there is currently no enterprise in New Zealand that provides dedicated Shariah-compliant finance offerings, despite the country having a Muslim population of over 62,000.

In response to the announcement of assigning SRB as EFCO’s Shariah advisor, Mahmood Raza, M...