Beehive Sharia Processing
Beehive operates an Islamic Window and is regulated by the Dubai Financial Services Authority under license number F003177
Sharia
Compliant Investment at Beehive
Beehive has worked with prominent Islamic legal advisors, and Islamic finance industry experts to develop a structure that allows us to process investments in a Sharia compliant way. All businesses applying for finance are meticulously checked to ensure that the business activity and use of funds comply with the principles of Sharia. If the business activity and use of funds comply, Beehive identifies the request as “Sharia Processing” and Islamic investors are able to place bids on the marketplace. Any finance requests that do not comply with the principles of Sharia are processed as a conventional finance structure, restricting Islamic investors from bidding on the request.
Islamic investors select to only invest in Sharia processing finance requests
Business activity and use of funds are checked to ensure compliance with Sharia
Beehive is certified as a Sharia-compliant P2P finance platform by the Shariyah Review Bureau (SRB)
The Eiger Trading Platform is confirmed as Sharia compliant by Sheikh Dr Mohamed Ali Elgari
Shariyah Review Bureau Certified
The world recognised and respected, Shariyah Review Bureau (SRB), together with their team of esteemed Sharia scholars, have reviewed and certified the “Sharia Processing” in terms of operational processes, documentation, business activity and relationship management. The certification makes Beehive the first P2P platform in the world to independently confirm its processes are compliant with Sharia principles. For more information on SRB, please visit www.shariyah.com
Beehiveʼs ShariaSupervisory Board
Beehive has a Sharia Supervisory Board (SSB) that opines on all Beehiveʼs products and any amendments that are made to existing products. The SSB comprises of three experienced scholars:
Dr. Salah Fahad
Mufti Irshad
Sh. Muhammad Ahmad
Islamic investors can benefit from P2P finance and have complete confidence their values are respected
P2P & Islamic Finance
Peer-to-peer finance (P2P) aims to build a community of investors and businesses where risks are shared and capital is channelled into real economic activity that benefits the community. Essentially, P2P follows the basic Islamic principle of sharing risk for profit rather than the model used by banks which is transferring risk for profit. Islamic finance complies with the principles of Sharia (Islamic Law); money must be used in a productive way and generating return on your money must be through legitimate and ethical trade or investment which includes an element of risk.
Commodity Murabaha
Business issues Promise to Purchase for commodities
The Investors issues a purchase offer which the commodity supplier accepts and ownership of the commodities are transferred
The Investors issue a Murabaha which the business accepts and ownership of the commodities are transferred from the Investors to the Business. Payment of cost price plus agreed profit is deferred and split into monthly installments
Once the Business has acquired the commodities, they are able to instantly monetise the value of the commodities through Eiger Trading Platform.
Got More Questions?
Annual Audit and Review
Client Monies Account and Comingling
All Beehiveʼs Sharia funds are comingled with Beehiveʼs conventional funds in the Client Monies account. However, we note that if you choose to invest only in Sharia requests then as an investor, you will only see the Sharia-compliant requests.
No interest is received on Beehiveʼs client monies account.
