SCF Bizhare Platform Launches Sharia Services, Targeting Halal Business Potential

Platform crowdfunding securities (SCF) Bizhare released the sharia service "Bizhare Syariah" to work on the potential of the halal business which has not been fully utilized. They claim to be the first company in the SCF industry to have a sharia business unit.

In an official statement, Bizhare Syariah Co-CEO Gatot Adhi Wibowo explained that currently the sharia market share is still at 9,03%. This opportunity encourages companies to present a more integrated sharia investment ecosystem for the wider community.

Not only as a financing platform, Bizshare already has a network of education, training, halal industry MSME ecosystems, supplier management system, and a library of halal digital applications.

"Bizhare Syariah together with various SMEs, educational institutions, and Muslim communities in Indonesia will build a sharia business ecosystem that is profitable and beneficial for investors," he explained.

Bizhare runs its sharia business by establishing a special business unit led by Gatot. Also, it has its own Sharia Supervisory Board (DPS) headed by Awang Muda Satria. In ALUDI, Gatot also serves as the Executive Chairman of the Sharia Division.

Separately, when contacted DailySocial, Bizshare's Founder & CEO Heinrich Vincent explains the different concepts equity crowdfunding (ECF) sharia with conventional lies on the side of the publisher's business which must implement Islamic law in running its business. The publisher had previously carried out a sharia review by the DPS which had been recommended by the Indonesian Ulema Council.

Then use four types of contracts for the distribution of the results. The contract in question is Ijarah contract (rent to rent goods/services), Mudhoroba contract (manager does not deposit money capital), Musharaka contract (managers also deposit capital), and Murabaha contract (sale of goods).

Then from the side due dilligence It is also more in-depth because it is not only in terms of legal, financial, and business projections, but also adds sharia elements in it. "The process of submitting the sharia business itself, the procedure is more or less the same, it will still be carried out" due dilligence in depth from a legal and financial perspective. However, the DPS will add to its shariah review,” said Heinrich.

Gatot also added that currently the scope of their sharia services is only in the ECF realm, in the future Bizhare Sharia will be expanded to SCF, considering that Bizhare itself is currently implementingupgrade license at OJK. The company targets that by 2025 it can open more than 2 sharia businesses.

Currently, Bizhare Syariah has opened two sharia business share offerings, namely Tihama Clinic Hemodialisa for the business category in the health sector located in Cirebon and SALSA for the wholesale and retail business category in Banyumas.

In addition to Bizhare Syariah, the company previously released its Secondary Market service last February. This service is a strategy to increase the liquidity of the issued shares of the issuer, as well as an exit strategy for investors.

Last May, Bizhare just announced a $520K pre-Series A funding led by AngelCentral. Followed by previous investors, such as GK Plug and Play, GDILab, and Billy Boen. One of these fresh funds will be used for application development mobile devices.