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Certification


Islamic investment and financial precaution concepts differ significantly from the investment foundations about conventional comparable concepts because they have to be compulsory and legally examined from an Islamic law point of view. Special experts having deep knowledge in Islamic as well as in economic law have to analyze and approve of the product before it may be offered.

In this way, the legal and official verdict („Fatwa") of an Islamic Fiqh scholar, analyses a question on basis of the sources of Islamic law to produce an Islamic founded answer. These legal expertises are based usually on one of the four mainstream schools of thought.

Every finance institution which intends to function within an independent Islamic institution and maintain an independent Islamic legal supervisory board normally consists of at least three persons who are responsible for overlooking the compliance of the company‘s actions and products with the Islamic legal regulations.

In close cooperation with the management and the respective operating department the Islamic legal Supervisory Board guarantees the Islam conformity of the introduction of new products, the adherence of the Islamic legal rulings in all finance areas as well as the ongoing assessment of various issues relevant to Islamic law.

In connection with our activities we also offer via our network the certification of financial products.

Certifying process:

 

Zertifizierungsprozess

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