Saudi fintech startup Madfu just hit a major milestone—it has officially received Sharia compliance certification from the Shariyah Review Bureau (SRB). This stamp of approval not only validates Madfu’s commitment to Islamic finance principles but also sets the stage for broader trust and adoption of its Buy Now, Pay Later (BNPL) services across the Kingdom.
Launched in 2023, Madfu is on a mission to ease the burden of immediate payments. It is presently offering flexible purchasing options for consumers. From last-minute travel plans to snagging those sold-out concert tickets, Madfu gives users the ability to buy now and pay later—without the guilt or religious conflict.
Why Sharia Compliance Matters
In a region where faith-based financial practices are non-negotiable for many, securing Sharia certification is a game-changer. This move reinforces Madfu’s alignment with Islamic finance values, helping it:
- ✅ Build stronger trust among observant Muslim consumers
- ✅ Tap into a growing Islamic fintech market
- ✅ Demonstrate ethical and transparent financial operations
- ✅ Support the Kingdom’s broader vision of financial inclusivity
By teaming up with SRB—one of the most respected Sharia compliance firms in the region—Madfu has ensured that its BNPL offerings are not only innovative, but also ethically and religiously sound.
CEO’s Vision – Fintech with Faith
Madfu’s CEO, Dr. Ahmad Alwasheel, made it clear that this certification isn’t just a badge. He terms it as a core part of the startup’s mission.
“Our goal has always been to offer financial solutions that are not only convenient, but also fully aligned with Sharia law,” he said. “Partnering with SRB allowed us to ensure that every part of our product stands up to Islamic financial standards.”
Alwasheel highlighted the growing demand for faith-compliant BNPL services in Saudi Arabia, adding that ethical tech-based solutions are key to earning consumer trust and loyalty.
A Smart Move in a Growing Market
Madfu’s achievement reflects a larger trend in the Middle East: the merging of modern fintech tools with traditional Islamic values. By blending both worlds, Madfu is uniquely positioned to:
- Accelerate BNPL adoption among conservative consumers
- Expand its reach beyond Saudi Arabia to other Islamic markets
- Attract partnerships and investors aligned with ESG and faith-based investing principles
As more consumers seek financial flexibility without compromising their beliefs, startups like Madfu are stepping in to meet that need—with innovation, integrity, and inclusion.
