Overview
Shokran, at a glance.
Shokran is a payments platform headquartered in the United Arab Emirates, regulated by Labuan Financial Services Authority, FINTRAC. Pricing is agreed with each client. Opening an account takes 3–5 days.
ShokranPay Inc. is not a bank. Banking services are provided by partner financial institutions, including Zand Bank.
Why businesses pick Shokran
- Sharia-compliant, certified by an independent Sharia Supervisory Board
- USD and EUR accounts opened online
- SWIFT and SEPA payments
- Support on WhatsApp and Telegram
Watch out for
- Not a bank: accounts depend on partner institutions
- No published price list
- Does not serve financial institutions, PSPs, EMIs, MSBs or crypto businesses
- Gambling, alcohol, tobacco and adult businesses are refused
Business fit
Will Shokran accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Shokran's published rules
Needs review
Shokran works with Startups and SMEs, but does not publish the countries it accepts companies from.
Shokran does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Shokran publishes about the businesses it takes on.
Who Shokran serves
- Startups and SMEs
- IT and software
- Import and export
- E-commerce
- Professional services
Not supported
Industries and countries Shokran does not accept, from its own published lists.
Industries
- Alcohol
- Pork and pork-related products
- Gambling, betting and games of chance
- Pornography, adult content and escort services
- Cannabis and narcotics
- Tobacco and vaping products
- Stem cell trading, embryonic stem cell research, human cloning, human genetic modification, commercialisation of human organs or tissues
- Ponzi and pyramid schemes, HYIP and fraudulent investment structures
- Fake references or ID-providing services
- Businesses promoting unlawful violence
- Crypto mixing or tumbling, privacy services that obscure the origin of funds, crypto yield or guaranteed-return schemes
- Banks, digital banks and neobanks
- PSPs, EMIs and MSBs
- Remittance and money transfer companies
- Investment firms, brokers and asset managers
- Funds and collective investment schemes
- VASPs, crypto exchanges and custody providers
- Insurance and takaful
- Clearing, settlement, custody or trust companies
Countries
- Not published
Coverage
Where can you use Shokran?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
USD and EUR
- EUR
- USD
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Not publishedPricing
What does Shokran cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
Not published
Pricing on request
Custom
Transaction fees
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Sign up online
Complete the registration form with the business details.
- 2
Verify
Submit identity and business documents for KYC and KYB checks.
- 3
Account live
Once approved, manage USD and EUR and send international payments.
Documents you need
- Certificate of incorporation
- KYC documents
- Proof of address
FAQ
Your questions, answered.
Is Shokran a bank?
No. ShokranPay Inc. holds a Labuan Islamic money-broking licence (MB/25/0130) and payment system operator approval; banking services come from partner institutions, including Zand Bank.
Which currencies does Shokran offer?
Business accounts in USD and EUR, with SWIFT and SEPA payments.
Is Shokran Sharia-compliant?
Yes. Shokran says its services are certified by an independent Sharia Supervisory Board.
Which businesses does Shokran refuse?
Financial institutions and crypto service providers, and Sharia-prohibited industries such as alcohol, gambling, tobacco and adult content.
Alternatives
How Shokran compares.
If Shokran is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 ShokranThis pagePayments platform |   | USD and EURUAE |
 Wio BankBank |  | Digital bank7 currencies |
 Zand BankBank | | Digital bank5 currencies |
 MbankBank | | No minimum balanceAED only |
 AirwallexE-money institution |    | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.