This strategic engagement underscores Open Space commitment to embedding strong ethical and Shariah governance principles within its Non-Interest Financial operations, while also highlighting AlHuda CIBE’s expanding role in supporting fintech innovation through sound Islamic finance practices. AlHuda CIBE has long been engaged in advising financial institutions, regulators, and market participants across multiple jurisdictions, providing structured guidance on Islamic financial engineering, regulatory frameworks, product development, market and gap analysis, and Shariah-compliant financial modelling.
With over twenty years of global experience in Islamic banking and finance, Mr. Mughal brings deep technical knowledge and practical insight into the development and oversight of Non-Interest Financial products. In his capacity as Shariah Adviser, he will guide Open Space on Shariah governance structures, compliance frameworks, product validation processes, and the overall alignment of its Non-Interest Financial offerings with internationally accepted Islamic finance principles, regulatory expectations, and investor governance standards.
The collaboration is designed to strengthen Open Space ethical finance architecture, ensuring transparency, responsible financial practices, and inclusive access to finance through technology. It also reinforces AlHuda CIBE mission to promote ethical and Shariah-compliant financial systems by supporting institutions that aim to integrate innovation with strong governance and compliance foundations.
Open Space Financial Services Limited operates an AI-driven fintech platform offering Non-Interest Financial Products alongside conventional services including savings, investments, credit, insurance, and inventory finance. Through this appointment, AlHuda CIBE continues to expand its global advisory footprint, contributing to the advancement of Non-Interest Finance and ethical fintech development within Nigeria and beyond.
