Property crowdfunding company Yielders has announced that it has become the first ever Islamic FinTech firm to be directly regulated by the Financial Conduct Authority (FCA).

Yielders are aiming to dispel myths that traditional Islamic Finance is uncompetitive with their Sharia compliant offering.

The 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.

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.

Irfan Khan, a founding director at Yielders, said: “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.”

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