Our Shariah Board Members
Meet the scholars who safeguard your halal investment journey
Sheikh Dr. Mufti Muhammad Imran Ashraf Usmani
Leading global expert in Islamic finance, with decades of experience in teaching, Shariah advisory, and international standard-setting.
Academic Background
- PhD in Islamic Finance: Earned a PhD in Islamic finance, specializing in Fiqh and Shariah compliance.
Teaching & Academic Roles
- Fiqh Instructor: Has taught Fiqh at Jamia Darul-Uloom Karachi for over 30 years.
Professional Experience
- Vice Chairman, Meezan Bank Shariah Supervisory Board: Oversees research, product development, and Shariah audit to ensure full compliance.
- Head of Usmani & Co.: Leads Usmani & Co., advising banks, insurers, and investors globally on Shariah-compliant finance.
International Roles
- Executive Committee Member, AAOIFI: Serves on the Executive Committee of AAOIFI, contributing to international Islamic finance standards.
- Shariah Supervisory Board Member, IIFM: Member of the Shariah Supervisory Board at IIFM, helping set global standards for Islamic finance.
Industry Impact
- Policy and Guidance: Has shaped policies and provided guidance from local banking to global Islamic finance forums, trusted by institutions and investors.
Mufti Muhammad Abdullah Usmani
Expert in Islamic finance and Shariah governance, with extensive experience in advisory, teaching, and product development.
Academic Background
- M.S. in Islamic Finance: Completed a Master of Science in Islamic Finance from IBA Karachi, with advanced studies in Fiqh.
Professional Experience
- Executive Director: Serves as Executive Director at Usmani & Co. and GreensFin Innovations.
- Shariah Compliance & Product Development Manager: Manages Shariah Compliance and Product Development at Faysal Bank.
- Shariah Advisory: Advises banks, insurers, and investors on Shariah-compliant products.
Teaching & Academic Roles
- Islamic Finance Instructor: Teaches Islamic Finance at the Centre for Islamic Economics.
- Arabic Grammar & Fiqh Instructor: Teaches Arabic Grammar and Fiqh at Jamia Darul Uloom Karachi.
Fatwa Issuance
- Darul Ifta: Issued 400 fatwas on contemporary Shariah issues through Darul Ifta.
Automated Blocking of Non-Compliant Transactions
We’ve designed our entire system to be Shariah-compliant—down to the last transaction. If a transaction doesn’t meet Shariah standards, it doesn’t get executed. So you can invest in halal stocks, the halal way, with complete peace of mind.
Our Screening Methodology
We apply a disciplined, two-tiered screening process in line with AAOIFI guidelines
Business Screening
First, we ensure the company’s core business is halal and that the majority of its revenue comes from permissible sources. In other words, we exclude companies involved in any of the prohibited activities listed below.
Riba (Usury)
Engaging in interest-based financial transactions.
Gharar (Uncertainty)
Participating in contracts or transactions that are ambiguous or excessively uncertain.
Maisir (Gambling)
Involvement in games of chance or speculative ventures akin to gambling.
Alcohol
Production, distribution, or sale of alcoholic beverage.
Tobacco
Engagement in the tobacco industry, including production and sale.
Pork
Activities related to the production, processing, or sale of pork and pork-derived products
Adult Content
Involvement in the creation, distribution, or sale of explicit sexual content
Entertainment
Participation in entertainment sectors that conflict with Shariah principle.
Weapons
Manufacturing, trading, or promoting weapons and arms.
Excessive debt
Excessive debt or loans.
Others
Other haram products or services
Financial Screening
After stock passes the business screening, we screen the financials to ensure that the level of prohibited revenue, liabilities and assets are in accordance with shariah guidelines.
Prohibited Revenue Ratio
Prohibited Revenue / Total revenue < 5%
Prohibited Borrowing Ratio
Prohibited borrowing types (such as interest-bearing debt, leasing, derivatives, etc) / Trailing 12-month average market cap < 30%
Prohibited Investment Ratio
Prohibited investment types (such as deposits, bonds, derivatives, etc) / Trailing 12-month average market cap < 30%
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