Crypto Firm Sustain Exchange Appoints Mufti Faraz To Shariah Boardbr>
UAE-based firm Sustain Exchange has appointed Mufti Faraz as Advisor of Shariah Board, effective JUNE 11, 2020.
Sustain Exchange is seeking to launch its crypto exchange in the coming months. The exchange will offer end-to-end Shariah compliant and ethical services to give Muslims a compliant space in the crypto market to invest.
Faraz is the director of Amanah Finance Consultancy and is well known for his research and advisory services especially in the FinTech space. She will be providing strategic leadership in the planning and implementation of quality-based, integrated Shariah programs for Sustain Exchange.
“The Shariah board is crucial in determining Shariah compliance of the entire project by not only advising and structuring the facilities on the exchange in a Shariah compliant way, but also independently screening every crypto-asset on the exchange and certifying the token,” said Sustain Exchange CEO Sulaiman al Fahim. “It is hoped that the Shariah board leads the way in developing a robust and innovative screening criteria to capture the Shariah compliance of this new asset class.”