Is the Sharia Review Bureau (SRB) - including Dr. Al-Mazini, Al-Shalhoob, and Al-Qari - considered a reliable source for Sharia compliance regarding debt-based financing platforms?

Upon reviewing the Lendo platform, it appears to contain potential Sharia-related concerns, including: buying debt, which is fundamentally forbidden, and organized Tawarruq (monetization), which has been declared unlawful by a resolution from the International Islamic Fiqh Academy and the Fiqh Council of the Muslim World League.

Due to the lack of sufficient details regarding the operations of these platforms, a definitive ruling cannot be issued on them, and the same applies to digital platforms. Furthermore, some Sharia bodies may permit matters that others consider forbidden, such as organized Tawarruq. To rule on the activities of debt-financing platforms, a detailed description of their operational method is required. Among the permissible forms of financing are: for the platform to sell a commodity on credit to the company seeking financing, and then for the company to sell it itself (permissible Tawarruq), or for the platform to enter into a Murabaha contract with the company, whereby the platform buys the goods for itself and sells them to the company in installments.