Our initiatives
External Shariah audit
The Qitmeer smart management Consultancies provides external Shariah audit for Islamic financial Institutions (IIFS) which include Banking, Takaful insurance, and Islamic Capital markets. The Shariah audit firm carries out the Shariah assurance audit shall produce findings and compliance reports indicating whether reports produced: a general statement of compliance that should be included in the annual reports.
Islamic social finance initiative
In line with the Qitmeer initiatives to provide integrated Islamic finance solutions: Zakat-traceability is the ability of the blockchain technology to ensures that Zakat payers could select and trace what project they would like to use their Zakat for, such as water irrigation, sanitation, building mosque, poverty eradication and education and it is in accordance with Shariah principles.
Smart Islamic Banking
The Qitmeer called “Digital Islamic Banking” as “Smart Islamic Banking” where you can have access to your any Islamic banking products based on blockchain technology anywhere in the world with more transparency and costumers' satisfaction. Islamic banking has been continuously developing new Shariah compliant products that both alter their ability to compete with conventional banks and alter their risk taking and risk mitigation profile.
Smart Takaful Undertakings
The Qitmeer called “Digital Takaful insurance” as “Smart Takaful insurance” where you can have access to your Takaful coverage on one platform based on P2P Takaful dealings anywhere in the world with more transparency and convenience for Takaful participants with no additional cost for Takaful operators. It has been noted that the global Takaful business is clearly shifting, and that the Takaful insurance landscape is becoming more popular in the Islamic finance ecosystem.
Smart Sukuk Investment
Smart Sukuk initiative is the issuance of Sukuk on the blockchain technology and it is a tokenization by collecting funds from investors in exchange for Sukuk Tokens representing an ownership portion of the Sukuk investment in accordance with Shariah rules. The funds are automatically distributed back to the Sukuk Token holders via the blockchain according to the rules of the smart contract in Islamic Economics - without the need of conventional banks or intermediaries.
Stable Coin: Payment System
The Qitmeer will work on the use of Blockchain technology as a great potential for IIFS.. One of the key principles of Islamic economy is based on having enforceable contracts which are fair, transparent and agreeable between the parties that engage in a banking transaction. Stable Coin is a cryptocurrency payment system based on blockchain, that a unit of value to be backed by a physical assets such as gold. This initiative helps to limit volatility and speculation and has been deemed acceptable under the Shariah rules and principles.