By Tamara Pupic
The Dubai-based start-up connects responsible investors with credit-worthy small businesses
September has been an important month for Craig Moore, founder of Beehive, the region’s first peer-to-peer (P2P) finance platform.
The Dubai-based start-up, which connects responsible investors with credit-worthy small businesses, has become the first P2P platform in the world to be granted a Sharia compliance certificate.
The certificate was issued by the Shariyah Review Bureau (SRB), a third party which has independently confirmed that the platform’s processes are compliant with Sharia principles.
Since the launch in November 2014, Beehive has channelled over AED15 million ($4 million) worth of finance to more than 32 SMEs.
It will from now on allow Islamic investors to take full advantage of the opportunities that P2P finance has to offer while providing complete confidence that their values are respected and adhered to.
Craig Moore is, therefore, a worthy winner of this week’s Entrepreneur of the Week accolade.
For information, tips and advice on setting up a new business or insights from those who have taken the leap into the world of entrepreneurship, click on the Arabian Business StartUp section.