Fintech Ethis, via its two online crowdfunding platforms, EthisCrowd and GlobalSadaqah, topped 135 nominees at the recent World Islamic Fintech Awards to win The Best Islamic Peer-to-Peer Finance Platform and The Best Social Impact Islamic Fintech Firm respectively.
Ethis states that both platforms were established to cater to the growing demand for Islamic finance services at the global level.
All campaigns listed on EthisCrowd and GlobalSadaqah goes through careful screening, ensuring that they are not only Shariah-compliant but provide a desired social impact as well.
“Part of our duty at Ethis is to assure donors and investors that all funds are directed to the correct parties and spent on beneficial causes. We take this duty very seriously” shared CEO, Umar Munshi. “Our awards recognise the meticulous work that goes into championing all Ethis campaigns.”
The company’s property investment crowdfunding platform, EthisCrowd, has brought together investors from more than 60 countries since its launch in 2014. As of November 2018, a total of SGD 50 million has been raised for projects, with SGD 6 million invested online.
More than 6,000 houses have been built in 30 social housing projects at multiple locations in Indonesia.
“We are honored to have prominent names such as The Islamic Development Bank Group from Jeddah and The Islamic Solidarity Fund for Development (ISFD) as well as a number of leading Malaysian banks including Bank Islam, coming onboard as Corporate Partners of the GlobalSadaqah platform – such bank-startup partnerships is a significant milestone for Islamic fintech,” said Alim, the Global Sadaqah Product Manager.
Ethis said going forward it will focus on expanding its reach and client base of institutional investors and donors to invest and donate alongside its fast-growing crowdfunding community.
Ethis Chairman Datuk Mohd Radzif Yunos, a corporate transformation leader said, Fintech and especially crowdfunding can bring tremendous value to the general public, to institutions and even to governments.
“These awards provide the impetus for us to move even faster and more aggressively to be a value-based intermediary to bring social good and economic benefit to the various stakeholders of the Islamic Economy, globally.”
Among the winners of in other categories were Ethis’s strategic partners Yielders and ConexCap, who won Best Islamic Crowdfunding platform and Honorary Mention for Most Innovative Use of Blockchain in Islamic Finance respectively.