Pioneering Platform in Qatar Brings Tokenization to Islamic Finance

Qatar’s Blade Labs has launched a blockchain-based platform for tokenized Murabaha contracts, supporting Sharia-compliant finance.

This platform enables lenders to expand their customer base while adhering to Islamic finance principles. Tokenizing Murabaha contracts allows fractional ownership, making Sharia-compliant financing more accessible and efficient.

Non-financial institutions, like car dealerships, can also offer in-house financing options, helping them manage liquidity and provide customer financing solutions. For Islamic financial institutions, tokenized contracts open new revenue streams, optimize operations, and enhance capital efficiency. Blade Labs, part of Qatar FinTech Hub’s 2024 Cohort, aims to impact Islamic finance locally and globally.

Clever Robot News Desk 28^th October 2024