Madfu Gains Sharia Compliance, Strengthening Saudi BNPL Trust and Growth

Editorial Team

Last updated 4-04-2025

2 min

Saudi fintech Madfu has gained Sharia compliance certification from Shariyah Review Bureau (SRB).

Founded in 2023, Madfu offers BNPL solutions, easing immediate payment burdens.

The certification reinforces their alignment with Islamic principles, boosting customer trust.

CEO Dr Ahmad Alwasheel emphasises their commitment to Sharia-compliant financial solutions.

Madfu's blend of fintech innovation and religious adherence taps into a growing market.

Saudi fintech startup Madfu has just secured Sharia compliance certification from Shariyah Review Bureau (SRB), a move that's sure to boost trust among customers in the Kingdom and beyond. Established in 2023, Madfu specialises in offering Buy Now Pay Later (BNPL) solutions—a convenient way we've all likely used once or twice when payday hasn't quite arrived yet.

From booking holidays, grabbing tickets for the weekend concert everyone’s been raving about, or even splashing out on a spontaneous weekend getaway, Madfu aims to give folks flexibility in purchasing products and services right away, without immediate payment pressures. And now, following SRB's seal of approval, they can confidently claim that their financial operations fully align with Islamic principles.

Let's face it—here in the region, sticking to Sharia requirements is a major priority. Madfu recognises this and seems serious about addressing the growing appetite, both in Saudi Arabia and globally, for Islamic-compatible finance. The compliance certification isn't merely a tick-box exercise; it's about reassuring customers that Madfu prioritises transparency and trustworthiness alongside convenience.

Dr Ahmad Alwasheel, Madfu's CEO, explained the motivation behind this achievement clearly. "Our goal has always been to offer financial solutions that aren't just convenient—but expressly compatible with Sharia law," he said. "With demand for BNPL ramping up across Saudi Arabia, ensuring our services align with Islamic teachings was essential in earning user trust. Partnership with the team at SRB was invaluable, owing to their experitse in supervising fintech compliance. They provided us with the necessary certification and assurances."

It's certainly interesting watching companies like Madfu navigate emerging fintech trends while respecting cultural sensitivities and religious requirements. After all, blending tech-driven innovation with religious values feels like a balancing act that deserves a nod—especially since companies that get it right often find they’ve tapped a significant market. Let's keep an eye on Madfu and see how things unfold.

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