Qualco’s ProximaPlus secures Shariah compliance certification

By Vriti Gothi

Qualco Technology has received Shariah Compliance Certification for its ProximaPlus Receivables and Supply Chain Finance (SCF) platform, in a process facilitated by the International Islamic Trade Finance Corporation (ITFC) Advisory Services.

The certification confirms that ProximaPlus can support Shariah-compliant receivables and supply chain finance structures, including Goods Murabaha and Tawarruq (Commodity Murabaha), within a framework designed to meet governance and transparency requirements. The independent Shariah review assessed the platform’s architecture, transaction logic, contractual workflows and operational controls, validating its alignment with recognised Shariah principles and suitability for live deployment at scale.

The development comes as Islamic finance continues to expand across the Gulf Cooperation Council (GCC) and broader MENA region. Financial institutions in these markets are increasingly focused on digitising trade and receivables finance while ensuring compliance with Shariah standards. This has heightened demand for technology platforms capable of operationalising Islamic finance structures without compromising auditability or risk controls.

Qualco Technology, part of Qualco Group, has an established presence in the Middle East, supporting banks across credit, receivables and trade finance operations. The company said the certification reinforces its ability to address the specific regulatory and operational requirements of Islamic financial institutions.

“As Islamic finance becomes a core growth pillar for banks in the Middle East and beyond, the challenge is no longer product design alone, but disciplined delivery at scale,” said Ioannis Maniadakis, Chief Business Officer, New Ventures at Qualco Technology. “This certification endorses Qualco ProximaPlus as a platform built for consistent Shariah-compliant operations, with the controls and transparency institutions need to operate with confidence.”

The certification positions ProximaPlus to serve banks seeking to scale Islamic receivables and supply chain finance programmes, as institutions across the region invest in infrastructure to support the continued growth of Shariah-compliant banking.