INABLR is developing an investment platform on the Tezos blockchain. INABLR is a fintech startup company based in Bahrain. INABLR is working with the Central Bank of Bahrain to build its platform through the Central Banks regulatory sandbox program.
INABLR is developing an investment platform on the Tezos blockchain. INABLR is a fintech startup company based in Bahrain, a kingdom between Qatar and Saudi-Arabia.
INABLR is working with the Central Bank of Bahrain to build their platform through the Central Banks regulatory sandbox program.
The platform will allow investors to buy fractions of traditionally high-investment assets. Where traditionally an investment of 200,000.- USD minimum was required, the INABLR platform will allow investors to buy fractions of these type of assets, allowing investments of 1,000.- USD instead.
Faraz Amjad, Co-Founder of INABLR hints at tokenization, where traditional assets are split up in smaller chunks of assets in the form of tokens which will be stored on blockchain. It was stated:
“INABLR aims to lead innovation in the growing wealth management segment in the MENASA (Middle East, North Africa and South Asia) region by providing fractional ownership for secondary market traded Bonds and Sukuk issues by high-grade issuers in more affordable chunks.”
The blockchain used by INABLR for this purpose is Tezos. Faraz Amjad commented:
“FinTech has become increasingly competitive within the last few years, with numerous individuals and organizations launching industry-disrupting projects. We are pleased to work on Tezos – it has enabled us to create a platform that will revolutionize the investment landscape.”
The INABLR platform will be issuing tokenized Sukuk. A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law commonly known as Sharia.
Tezos has been reviewed last year and received a Sharia compliance certificate. It was said:
“Shariyah Review Bureau has reviewed the Tezos blockchain’s governance mechanism, Proof-of-Stake (PoS) consensus mechanism, and formal verification techniques and issued a Sharia certificate marking the platform’s compliance with Sharia principles.”
INABLR aims to launch the platform in Q2 2022. Usman Atta, INABLR’s Head of Regulatory Affairs and Compliance said:
“Subject to successful testing, we plan to exit the Sandbox by early next year and commercially launch our operations by Q2 2022. We are delighted to work with the Central Bank of Bahrain on these innovative solutions and equally pleased with the entire Bahrain FinTech ecosystem”.
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