Investors on our platform receive profit rates rather than interest. This is because Islam prohibits the payment and receiving of interest as Muslims believe that it promotes unfairness in financial transactions, which leads to social inequality and injustice.
Crowdfunding is a method of funding a project or organisation by pooling the money of individual investors. It can provide a number of benefits beyond the financial including marketing, audience engagement and feedback. Crowdfunding allows good companies which don't fit the pattern required by conventional financiers, to break through and attract cash. There are a number of types of crowdfunding but the 3 main categories are:
Want to know more?
Please visit the UK Crowdfunding Association.
NESTA have written a comprehensive introduction to crowdfunding. You can read it here.
Yes – crowdfunding is a regulated activity in the UK and each country across the world has specific regulations regarding the adoption of equity crowdfunding.
The Financial Conduct Authority (FCA) in the UK issued a Policy statement (14/4) The FCA's regulatory approach to crowdfunding over the internet, and the promotion of non-readily realisable securities by other media, in March 2014
ShareIn Limited are the company that Qardus are working with to deliver their equity crowdfund. ShareIn are authorised and regulated by the UK Financial Conduct Authority (FRN 603332).
When you invest or top up your wallet, funds should be transferred to 'ShareIn Ltd'. ShareIn Ltd holds client monies in segregated accounts. ShareIn Limited (Firm Reference Number 603332) is authorised and regulated by the Financial Conduct Authority. The transfer details will be available at the time of investing.
You can lose all the money you invested but nothing more.
People resident in the United Kingdom or the European Union (EU) who are either a "Certified High Net Worth Individual" or "Self-Certified Sophisticated Investor" (as these terms are defined in The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended)) or who can confirm that they will invest less than 10% of their net assets in this type of investment as a "restricted investor" (as this is defined in the FCA's Conduct of Business Sourcebook at Chapter 4.7).
You must not participate in the New Fundraise or make any other investments via the Company's website if you do not meet any of these criteria and you must not complete the online registration process as an 'INVESTOR'.
In order to invest via this platform you must be categorised as a "client" for regulatory purposes. All investors are required to successfully complete the "Appropriateness Test". All UK individual investors are treated as retail clients.
All UK investors using this platform are eligible to file a complaint to the Financial Ombudsman Service. Investors may be able to claim compensation under the Financial Services Compensation Scheme in cases where they believe they have been mis-sold. However, there is no FSCS cover for investments into the products offered by Qardus. Before it is invested or once the proceeds of investments are returned, your money will be held by the money recipient in a client account and subject to separate protections applicable to credit institutions and banks.
Different regulations apply in different regions and before being able to invest you will be asked to confirm that you meet the eligibility requirements in your particular region.
You can cancel your investment offer at any point before the funds are transferred by emailing email@example.com .
“Best execution” rules, which exist to make certain types of costs and
processes more transparent to investors, will not apply to your investments
on our platform, and we need to explain why that is. When you apply to
purchase a bond or share on our investment platform, your application will
be processed on a first-come, first-served basis. Once an investment offer
is closed, investments are issued directly by the company to the investor.
These investments are not traded on a market of any kind.
So what does this have to do with “best execution” rules?
Because your transaction on our crowdfunding platform will not be carried out by an intermediary, third party or execution venue as defined above, nor do we provide a facility allowing you to resell your investment through an MTF, best execution rules do not apply
One of your rights under data protection law is the right of access to the personal data that we hold about you. The process of requesting your data is called a Subject Access Request (SAR).
How to ask for a SAR
If you want a copy of the personal data we hold (or simply want confirmation as to whether or not we process data about you), you must make a request, either in writing or verbally. Our contact details are here.
Please include the following in your SAR:
What you can expect from us
Before releasing personal data we may have to take steps to confirm your identity. This could include requiring a piece of photo identification or answering a number of security questions related to your account.
Once we verify your identity, we will log your request, and we will search all databases to find any personal data we currently hold.
We will provide an electronic copy of your personal data within a month of your request.
Please be aware that there are circumstances in which the law allows us to extend the response time or charge an administrative fee. In either case, we will inform you by email within one month of receiving your request.
What you can do once you receive the data we hold
Once you receive the data we hold, you have the right to ask for data to be corrected or erased.
Please be aware that we may not always be able to erase personal data we may hold about you. If your personal data relates to an investment you have made, financial services regulation requires us to keep certain information on file for a period of 5 years.
In the event you have a complaint about the way we have handled your personal data or your SAR, you can count on us to take your complaint seriously.
If you feel your data protection rights have been violated and you do not feel you have had a satisfactory response from us , you have the right to lodge a complaint with the Information Commissioner’s Office (ICO).