Yielders becomes the UK’s First Islamic FinTech Firm to Receive Full Authorisation by the FCA
April 8th, 2017 / Innovate Finance / Featured Insights
April 10th, 2017: The London-based FinTech firm, Yielders, announced it is now directly regulated by the Financial Conduct Authority (FCA), becoming the UK’s first ever Islamic FinTech firm to be directly authorised and making their ethical crowdfunding platform even more assured for investors.
This latest landmark shows significant validation by the supervisory body of financial services in the UK, and strengthens the position of Yielders in pioneering Islamic FinTech and making it competitively available.
Yielders is now looking to revolutionise a segment in the market through their Sharia compliant offering and dispel myths that traditional Islamic Finance is uncompetitive. Their crowdfunding service is on par with its peers and is offering some of the best possible rates of return on the market.
The ethical platform allows cash-based investments from as little as £100, giving anyone the opportunity to get on the property ladder without the hassle of being a landlord or having the burden of a mortgage. Assets are already funded and provide pre-defined rental incomes, which means investors have the potential to start earning returns almost immediately.
Yielders went through a vigorous process of due diligence with the FCA, who validated their business model, client money handling and financial promotions before awarding accreditation, which puts them in a special group of only five real-estate crowdfunding platforms to be directly authorised by the FCA.
Irfan Khan, a founding director at Yielders, said he was delighted the platform had reached this significant milestone.
“The granting of full authorisation demonstrates to current and future investors that Yielders’ regulatory and operational infrastructure has met with the strictest and highest standards demanded by the globally recognised FCA.
“We set out two years ago to create a fully Sharia complaint and regulated business, and this announcement shows our commitment to a long term strategy in providing an honest, competitive and inclusive opportunity for ethical and Islamic crowdfunding.”
Members from the Yielders team have also been accredited with CF30 certification, deeming them approved to present investment opportunities to a retail crowd. This gives crowd-funders added assurance that they are making informed decisions based on approved financial promotions.
The FCA authorisation also demonstrates that approved processes are in place to safeguard client assets and that funders can invest with confidence and security through the regulated and factually correct information presented to them – resulting in Yieldersbecoming a more robust business model.
If you would like to know more about Yielders, or join the crowdfunding platform, please visit the Yielders website www.yielders.co.uk or contact The Yielders Team by phone on 0207 205 4650 or email Team@yielders.co.uk.