Key Takeaways
- Sheesha Finance will make an strategic investment in MRHB DeFi for an undisclosed amount.
- MRHB DeFi intends to serve global Muslim community within a Shariah-compliant framework.
- It will enable the global Muslim community to take advantage of the booming DeFi sector while still adhering to the key tenets of their faith.
The first halal decentralised finance platform Marhaba DeFi joins forces with the leading DeFi mutual fund Sheesha Finance to promote Islamic Finance business practices.
According to the latest deal, Sheesha Finance will make an strategic investment in Marhaba DeFi for an undisclosed amount.
Additionaly, both the DeFi players will collaborate alongside mutually beneficial initiatives that align with and promote Islamic Finance business practices.
In June, Sheesha Finance partnered with blockchain venture fund Draper Goren Holm to focus on helping advanced and original blockchain projects overcome obstacles and reach their milestones.
Sheesha Finance is an early investor and supporter of Marhaba DeFi. The DeFi mutual fund is highly bullish on the future potential of the faith-based DeFi project. It believes that MRHB has got first-mover advantages in the DeFi space.
“As a decentralized fund we’re always on the lookout for like-minded projects and ideas that are looking to advance ethical finance and decentralize finance more,” states Sheesha Finance CEO, Saeed Al Darmaki. “We’re very excited to have partnered with Marhaba, a unique value proposition in DeFi, who are doing that, and a lot more.”
Marhaba DeFi Founder & CEO Naquib Mohammed, echoes the sentiment:
“We are delighted to have Sheesha Finance as one of our early supporters and partners and are absolutely looking forward to utilizing the team’s crypto and DeFi market expertise and experience. This partnership with Sheesha Finance will open new avenues for growth and expansion for MRHB DeFi across its network.”
Marhaba DeFi Eyes 2.2 Billion Muslim Population
Marhaba DeFi intends to serve global Muslim community within a Shariah-compliant framework or a decentralized Islamic finance. According to the Population Reference Bureau, the total Muslim global population is growing and by 2030, is estimated to increase to 2.2 billion people. It will enable the global Muslim community to take advantage of the booming DeFi sector while still adhering to the key tenets of their faith.
Read Also: Acreditus Partners Joins Marhaba DeFi As New Strategic Investor
