Mubasher: Bahrain-based Rain, a cryptocurrency exchange operating out of the Regulatory Sandbox, on Monday announced it has completed its Shari’a compliance certification through the Shariyah Review Bureau (SRB).
The SRB, an Islamic advisory firm licensed by Bahrain’s central bank, has reviewed Rain’s brokerage service and has confirmed that its activities are compatible with Shari’a principles, according to a press release.
“Rain aims to deliver more value with a Shari’a compliant cryptocurrency exchange. The Shari’a certification covers a suite of three cryptocurrencies - bitcoin, ethereum, and litecoin,” the company added.
The Bahraini company is looking to “enable top-tier family offices, sophisticated investors and Islamic institutional investors to buy, sell and store cryptocurrency in a Shari’a compliant way.”
Yasser S. Dahlawi, founder and CEO of SRB, said, "Our engagement with Rain is another important step to extending our position in this rapidly growing market.”
“With more than 13 years of experience in the Shari’a certification and Shari’a audit businesses, we are confident that we will be able to further develop the Islamic crypto and exchange business systematically and help customers like Rain open new opportunities for investors,” Dahlawi added.
Customers can download the mobile app at Appstore and Playstore or visit www.rain.bh to register in the official waiting list.
