Mudaraba

Mudaraba (مضاربة) is a Saudi Arabian fintech platform that lets small and medium-sized enterprises raise financing by issuing Sharia-compliant debt instruments (Sukuk structured under a Mudaraba profit-sharing contract) to a pool of investors, rather than borrowing from a bank. Investors can back vetted business projects with a minimum ticket of 1,000 Saudi riyals per investment. The platform operates under a license from Saudi Arabia's Capital Market Authority (CMA), granted under the CMA's Financial Technology Experimental Permit (sandbox) program, with approval dated May 5, 2020. Sharia compliance is overseen by Dar Al-Assurance, an external advisory body the company describes as drawing on around 35 scholars globally. The operating company is registered under Saudi company law with commercial registration number 1010560120 and is based on Al-Olaya Street in Riyadh. In addition to its website, Mudaraba publishes an iOS app on the Apple App Store.