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# RMBS may be a market term, but to us it means progress

A new chapter for halal home finance

25
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Team StrideUp
Published: 05 Nov, 2025
Published: 05 Nov, 2025

In October 2025, StrideUp marked a milestone; one that represents progress not only for us, but for every household, investor and community member who believes finance should never come at the cost of faith.

##### Table of contents

- What we heard at MTF 2025
- The data confirms it: Our community is underserved
- StrideUp’s model resonated deeply
- More than a moment – a movement
- The data confirms it: Our community is underserved
- So, what’s next?

## So what did we do?

We successfully closed Meridian Funding 2025-1 – our first RMBS deal (standing for Residential Mortgage Backed Security). This was completed using a market-first, fully shariah-compliant structure backed entirely by Islamic property financing transactions.

For most, the term RMBS might sound technical, perhaps even distant. But for us, this moment carries something far more meaningful. This wasn’t just a transaction, it’s a statement of purpose, a step towards proving that modern finance can grow on faith-aligned principles without compromise.

Read more about StrideUp and our mission.

## How RMBS helps more people buy homes, the halal way

In traditional finance, RMBS is a way for lenders to raise long-term funds secured against their mortgage portfolios. We’ve taken this financial structure and pushed it further by turning it into a sukuk, a shariah-compliant alternative that replaces interest with profit-sharing and real asset ownership. For us, it means the homes we’ve helped people buy without interest now stand behind an investment that global institutions believe in.

This is proof that faith and finance can move forward together.

In practice, StrideUp shares the income generated from its Home Purchase Plans with institutional investors in exchange for funds that enable more people to buy homes, the halal way.

## “When we started this journey, there hadn’t been a public shariah-compliant RMBS in the UK since 2018. With Meridian, we’ve reignited the market, and in doing so, we’ve opened a new chapter for inclusive finance that’s rooted in faith.” – Sakeeb Zaman, StrideUp CEO.

## Why Meridian matters

Meridian Funding 2025-1 marks the first public shariah-compliant RMBS issued by a non-bank lender in the UK.

This £308m transaction mirrors the structure of a conventional RMBS, yet every element has been thoughtfully adapted to comply with shariah principles. Instead of interest-bearing transactions, the investors will hold profit-bearing certificates. The underlying bank accounts will operate through murabaha-based profit mechanisms, ensuring the entire structure remains free from interest.

As a result, Meridian becomes a financial instrument that economically behaves like other high-quality UK mortgage-backed deals, but it’s rooted in faith through its shariah-compliance.

It sets a foundation and opens the door for others to follow. The path to inclusive finance grows stronger when more institutions take part and Meridian is a step towards that future.

### 2025

Year

### £308 million

Transaction size

### Sukuk / RMBS

Structure

### Purpose

To expand access to halal home finance across the UK

## Faith and the future

At StrideUp, our mission has always been simple: to make halal home ownership accessible without compromise. Each completed purchase is a small victory for financial inclusion and a reminder of why this work matters.

## So, what’s next?

Meridian is only the beginning. It shows what happens when faith and finance move forward together, creating homes, opportunities and lasting trust. The future of halal home finance will be shaped by innovation, collaboration and a shared belief that progress can carry purpose, that money can have meaning.

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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE PAYMENTS ON YOUR PURCHASE PLAN.

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25
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About the author
Team StrideUp

Writing about money with meaning, faith with function, and homes built on values.

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