Micro Connect’s MCEX certified to offer Shariah-compliant products
out23 October 30, 2023 Share Micro Connect Group has deemed that Micro Connect (Macao) Financial Assets Exchange (“MCEX”) Shariah-compliant products are allowed to offer Shariah-compliant products on the platform. These products will be Shariah-compliant products offered in East Asia, further strengthening MCEX’s appeal to Islamic investors. The certification recognises that Micro Connect’s revenue-sharing products are in line with Islamic law, including being non-interest-bearing, and approves the company’s Shariah-compliant screening methodology. Being certified as Shariah-compliant enables MCEX to expand its membership landscape, opening the doors to Islamic investors looking to invest in the cash flows of China’s micro and small businesses. MCEX members will be able to invest in Shariah-compliant DRPs (“Daily Revenue Portfolios”), baskets of Daily Revenue Obligations (DROs), and receive daily revenue shares of China’s Shariah-compliant small businesses....