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Shariah-compliant P2P Lending

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  • Shariah-compliant P2P Lending

    Hello everyone,

    I am a student from Brunei Darussalam looking to venture into financial technology. I am very interested in launching a Shariah-Compliant Peer-to-Peer Lending platform that aims to match borrowers and lenders on an online marketplace. I understand that it can be very hard for Muslims to get a riba-free loan in the United States and I am trying to do some market research to see if there is any demand for an Islamic P2P Lending platform.

    This Islamic P2P online marketplace is for everyone, regardless of their religion, so long as the users are seeking for ethically-structured financing or investments. The types of financing we will offer is: Personal Loans, Business Loans, Mortgages, Student Loans, and Auto Loans.

    I was just wondering if the Ummah Community could please answer a few questions by replying to this thread:

    1) Would you apply for Shariah-compliant loans online? If so, which type? (personal, business, mortgage, student, or auto loans)
    2) Would you invest into Islamic loans on a P2P Lending platform online?

    Lastly, any questions and comments will be much appreciated.

    Thank you very much! :D

  • #2
    Re: Shariah-compliant P2P Lending

    Hi Alim8,

    That is a great thought you have, I have actually built a peer 2 peer lending system and can be used for the Brunei Market. Perhaps you want to explore further. Brunei has got a credit bureau and I believe p2p lending will work in Brunei.

    You can check out my system at https://www.hrocketeer.com

    cheers,
    Cicak Man

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    • #3
      Re: Shariah-compliant P2P Lending

      Recently Brunei AMBD has just released a sandbox environment for operators that are interested to experiment

      http://www.ambd.gov.bn/fintech-office

      We have a ready p2p lending platform here. https://www.hrocketeer.com/

      Anyone interested to operate can reach me [email protected]

      Cicakman

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      • #4
        Re: Shariah-compliant P2P Lending

        How is your website shariah complaint when it is charging interest ?

        Comment


        • #5
          Re: Shariah-compliant P2P Lending

          :salams

          3 questions:

          1) How will you make it Shariah-compliant?

          2) How will you incentivize lenders to use your platform instead of other shariah-compliant investments?

          3) How much risk will be involved? (cross-border lending? currency-risk? borrower-risk?)

          Comment


          • #6
            Hello! Oh, you are very lucky. I recently worked on this issue and stumbled upon this https://igniteoutsourcing.com/public...ing-companies/

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