Murabex

Centrally governed approval framework with scoped applicability, lifecycle management and embedded enforcement across all workflows.

A centralised registry maintains all Shari’ah approvals with clearly defined scope across assets, instruments, counterparties and workflow steps, ensuring only compliant combinations are permitted. It supports full lifecycle management, impact governance and audit traceability, while dynamically maintaining the eligible universe of instruments in line with approval updates.

Genuine ownership risk borne by participants, with strict transfer rules and built-in prevention of non-compliant structures.

Participants bear full ownership risk throughout their holding period, with risk transferring only upon legal title transfer and constructive possession as enforced through execution, clearing and settlement. Embedded controls prevent artificial risk elimination and prohibited structures, including economically equivalent sell-and-buy-back arrangements, while ensuring full transparency, auditability and group-level compliance enforcement.

Competitive, multi-provider liquidity enabling continuous price discovery and stability through market participation.

A distributed network of independent liquidity providers responds competitively to Wa‘d requests, with pricing emerging from multiple perspectives and evolving continuously based on market conditions, demand and available inventory. Participation is entirely voluntary, while competition on price and responsiveness, combined with high transaction throughput, drives tighter spreads and supports organically emerging market stability.

Configurable, fully transparent fee model with deterministic pre-trade visibility of transaction economics.

Fees are centrally governed yet flexible, with rule-based calculations derived from transaction parameters and applied uniformly across participants, ensuring fairness and consistency. All costs are fully disclosed pre-trade, with no hidden charges or post-trade adjustments, and are recorded at transaction level for complete auditability and alignment with true market pricing.

Ownership rights are absolute and cannot be constrained; no pre-arranged exit or dependency is permitted; all agency actions are explicit, limited in scope and fully traceable.

Customers retain an unconditional right to hold the asset, enforced by the platform across workflows, documentation and audit records, with any Wa‘d disclosure allowed only post-transfer and without creating obligation or economic linkage. Where an agency (wakālah) and messaging framework applies, mandates are strictly defined and all actions and disclosures are fully transparent and traceable.