At Mnaara, we are guided by the Shariah principles of investment

We ensure that all investments on our platform adhere to the principles and guidelines of Islamic finance.

Shariah Guidelines

Our funds follow strict screening guidelines in line with Shariah. Investments made by our funds are limited and controlled by setting restrictions on sinful activities and interest income. In addition, financial guidelines are followed with respect to the use of conventional leverage and the use of prohibited financial derivatives.

Shariah Advisory Board

Our guidelines as well as the investments offered on our platform are reviewed by the Shariah board, represented by Mufti Faraz Adam, which overlooks the company’s complete quarterly reviews and the in-depth assessment of the products offered.

Shariah Audit

A complete review of Shariah risks and compliance is made to ensure that Mnaara is meeting its Shariah requirements. This encompasses the timely and periodic review of policies and investments in accordance with Shariah standards.

Transparency & Disclosure

We are committed to providing full disclosure about the guidelines followed in assessing our products, and we stand ready to respond to our clients inquiries and concerns in that respect.

Meet Our Shariah Scholar

Mufti Faraz Adam

Mufti Faraz's educational background includes a comprehensive six-year Alimiyyah program (Islamic Studies) in the UK, followed by specialization in Islamic law through a Mufti course in Durban, South Africa. He holds a Master's Degree in Islamic Finance, Banking, and Management from Newman University, UK, as well as an MBA Diploma from the International Business Management Institute.

Mufti Faraz has also successfully completed a Fintech Specialization course from the University of Michigan and obtained the ACCA Level 4 Qualification in Accounting and Business. His extensive industry qualifications include IFQ, CIFE, and being a Certified Shariah Advisor and Auditor (CSAA).

Additionally, he is an avid writer and researcher, having authored a book on Islamic Fintech titled 'Introduction to Islamic Fintech' and published several research papers on Islamic Finance and complex financial products.

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