ZaynFi sets Shariah DeFi standards with Amanie's Certification

KUALA LUMPUR: ZaynFi, a Decentralized Finance (DeFi) protocol focused on simplifying yield-generation within DeFi, has received Shariah approval from Amanie Advisors, a leading global shariah advisory firm.

The approval makes the ZaynFi protocol the first DeFi platform to receive such certification, paving the way for greater adoption of DeFi within the global Muslim market.

The Shariah approval by Amanie Advisors confirms that ZaynFi's protocol complies with Islamic Finance principles, providing a trusted and transparent platform for Muslims who wish to engage in DeFi activities. This approval represents a significant milestone for the DeFi industry, which sets the standards for Shariah governance within the industry.

"We are grateful to receive the shariah certification from Amanie Advisors. We are on a mission to simplify DeFi for the masses and we are delighted that with this certification, we expand the reach of our products into the global muslim market," said ZaynFi's Core Contributor, Syakir Hashim.

“This is the first time that Shariah governance around DeFi’s yield taxonomy has been established. This will open up the world of DeFi to a large underserved community” added Syakir.

ZaynFi has recently launched the beta version of its product on the BNB Smart Chain (BSC) to a select group of early users. The product offers users a chance to earn above-market yields with their stablecoins while reducing exposure to the volatility commonly associated with cryptocurrencies.

ZaynFi is a Decentralized Finance (DeFi) protocol that offers simple solutions for liquidity provisioning to Decentralized Exchanges and yield farming. The protocol is designed to be highly scalable, secure, and efficient, providing users with a trusted and transparent platform for engaging in DeFi activities.

Amanie Advisors is a leading global shariah advisory firm that provides shariah-compliant solutions for financial institutions, corporations, and governments. Amanie Advisors is known for its expertise in shariah compliance and its commitment to promoting Islamic finance globally.