Shariah Compliance
All transactions are reviewed and audited by the Shari’ah Review Bureau specializing in Islamic financial transactions to ensure full compliance with Sharia guidelines.
Shariah Compliance
THEMAR was developed in cooperation with the shariah Committee "SHARIYAH REVIEW BUREAU" to establish an investment system to finance purchases in accordance with Islamic law.
- Investors follow the principle of Mudaraba to finance SME purchases.
- SMEs follow the principle of Murabaha or Tawaruq to purchase the needed assets.
Where we purchase the products on behalf of the businesses and resell them in exchange for installment payments from the total amount, known as "deferred sale"
The former Grand Mufti of Saudi Arabia, Sheikh Bin Baz (may Allah have mercy on him), previously permitted deferred payment and affirmed that it does not fall under the category of usury (riba) because the merchant agreed to the deferred payment and the sale with a deferred payment in order to obtain an increase in benefit.
THEMAR It is an investment platform compliant with Islamic Sharia principles, offering financing solutions for SMEs through Murabaha (purchase financing) and Tawarruq (Term finance, Working Capital, inventory, services, invoices, and deferred payments).
- THEMAR operates based on the principle of Mudarabah with investors and on Murabaha or Tawarruq with SMEs.
- We purchase products or goods on behalf of the SME and then resell them to for payment in installments of the total amount a process known as deferred sale.
- Murabaha in Islam
- Mudaraba in Islam
- Deferred Payment System
This is a purchase and sale of goods between two parties with a known price and profit. Scholars permit it with certain conditions. In our case, it involves buying a product at the customer's request for an agreed price and then selling it to the customer at a higher price with a known profit. The repayment to be made in the future on installments.
Mudaraba refers to processes of buying and selling where contracts or money are transferred between parties. Scholars unanimously agree on its permissibility, as supported by a hadith that emphasizes blessings in deferred payment and mutual consent.
This system allows for receiving a product immediately while deferring the payment to a later time. It's an agreement between the seller and buyer where the ownership is transferred immediately, but the payment is deferred for an agreed-upon period, which can be paid in full or in installments.
The former Grand Mufti of Saudi Arabia, Sheikh Bin Baz (may Allah have mercy on him), previously permitted deferred payment and affirmed that it does not fall under the category of usury (riba) because the merchant agreed to the deferred payment and the sale with a deferred payment in order to obtain an increase in benefit. Similarly, the buyer accepted the increase in benefit for the purpose of having an extended period for payment, as he was unable to pay the price in cash. Therefore, both parties benefited from this transaction.
