An Islamic P2P loan without Riba in 2024 is defined by a Halal peer-to-peer financing arrangement that complies with Shariah law, ensuring that no interest (Riba) is charged on the loan, and instead relies on ethical, profit-sharing, or trade-based models to provide returns to lenders.
The Islamic P2P loan without Riba typically utilizes profit-sharing contracts like Mudarabah or Musharakah, where profits are shared between the lender and the borrower according to a pre-agreed ratio, and losses are borne by the lender based on the capital provided, thus eliminating any interest-based earnings.
A Halal peer-to-peer loan without interest can also be structured through trade-based models such as Murabaha, where the lender purchases an asset or commodity and sells it to the borrower at a marked-up price, with the profit margin agreed upon beforehand, ensuring that the transaction remains compliant with Islamic principles.
The Islamic P2P loan without Riba in 2024 adheres to the core principles of risk-sharing, ethical investing, and social responsibility, ensuring that the funds are used in permissible (halal) industries and that the financial arrangement fosters fairness and transparency between all parties involved.
LIST OF ISLAMIC P2P LENDERS
LIST OF ISLAMIC P2P LENDERS
1. Ethis (Global)
Description: A global Islamic P2P crowdfunding platform based in Malaysia and Indonesia, Ethis provides Shariah-compliant investment opportunities for real estate and social impact projects.
Website: Ethis
2. Beehive (UAE)
Description: Beehive offers Shariah-compliant P2P loans, particularly focused on small and medium-sized enterprises (SMEs) in the UAE, using Islamic finance principles such as Murabaha and Wakala.
Website: Beehive
3. Funding Societies (Southeast Asia)
Description: Operating in Malaysia, Singapore, and Indonesia, Funding Societies provides Shariah-compliant investment opportunities in small businesses and startups.
Website: Funding Societies
4. Kapital Boost (Southeast Asia)
Description: Kapital Boost is an Islamic crowdfunding platform focused on SMEs in Southeast Asia. It provides Shariah-compliant financing solutions based on profit-sharing and trade-based structures.
Website: Kapital Boost
5. Blossom Finance (Indonesia)
Description: Blossom Finance uses blockchain technology to offer microfinance loans that are compliant with Islamic principles, targeting small businesses and social impact projects.
Website: Blossom Finance
6. Liwwa (Middle East)
Description: Based in Jordan, Liwwa is a Shariah-compliant P2P lending platform that finances SMEs by providing them with interest-free capital using Islamic structures.
Website: Liwwa
7. P2Pah (Malaysia)
Description: P2Pah is a Malaysia-based Islamic P2P lending platform offering business financing options that adhere to Islamic financing principles, such as profit-sharing and Murabaha.
Website: P2Pah
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