Marhaba (MRHB) Defi is the first-ever shariah-compliant solution to the world of decentralized finance. MRHB Decentralized Finance Platform was started with the vision of bringing a “Muslim also” platform, rather than making it an exclusive “Muslim only” offering. As they mentioned on their website.
MRHB encourages participation in this new era of financial revolution and aims to standardize Shariah compliance within cryptocurrencies via a user-friendly interface that simplifies the complexities of both Shariah and Defi.
This Defi is aiming to bridge the gap between the Muslim Community and the Blockchain world.
How this coin actually work:
MRHB DeFi's cross-chain "no-code" marketplace encourages and promotes Shariah-compliant arts such as Islamic Arts and contemporary Calligraphy. An artist will have the option to create & upload his artwork and the underlying smart contracts will convert the uploaded file into an NFT.
Conclusion:
One of the unique aspects that adds value to the advent of MRHB DeFi is the commitment of the platform to avoid dealing in non-Shariah and unethical elements while performing transactions using different crypto assets in a decentralized and secured manner.
MRHB DeFi will be free from interest/usury (Riba), excessive risk (Gharar), and financial transactions which are similar to gambling (Maysir).
Additionally, the smart contracts used in the MRHB platform are set to enforce Shariah compliance and prohibit the use of any asset that is unlawful according to Shariah Law. The supervision of duly experienced and highly qualified in-house Shariah advisors will ensure that the activities on the platform are Shariah-compliant.
This project is absolutely transparent and ethical. All team members have a career and education background and they are very public and very transparent and very honesty like many defi projects are usually hidden and all that stuff. All members have their LinkedIn accounts on the website. They have pictures and descriptions of the team's past and current experiences on the website. So this project is trustworthy in my opinion.
