Shariah Screening
Abbasi and Company has appointed Meezan Bank as Shariah Advisor. Namaa Capital follows the screening mechanism used by the Pakistan Stock Exchange and Meezan Bank.
The arrangement
We do not write our own rules.
Namaa Capital is the Shariah window of Abbasi and Company, with Meezan Bank serving as its Shariah Advisor.
The investable universe is not decided in-house. Abbasi and Company follows the screening mechanism used by the Pakistan Stock Exchange and Meezan Bank, and applies it as that mechanism stands at the time of screening.
That matters more than any list we could publish ourselves. A broker marking its own homework is worth little; a mechanism maintained by the exchange and a Shariah Advisor with standing in Islamic finance is something you can check independently.
Shariah Advisor
Meezan Bank
Appointed by Abbasi and Company as Shariah Advisor to Namaa Capital. The screening mechanism applied is the one used by the Pakistan Stock Exchange and Meezan Bank, not a methodology of our own devising.
In practice
How the mechanism is applied
Screened before purchase
A company is checked against the mechanism before an order is placed, rather than confirmed afterwards when you ask.
Re-checked as companies report
Compliance is a moving state. A company that qualifies today can stop qualifying after its next set of accounts, so the check is repeated as results are published.
Failures are flagged to you
If a holding stops qualifying, you are told, and which screen it failed. The decision to hold or sell is always yours; where you have asked for guidance, the desk gives you its view first.
Income purified where required
Where a qualifying company earns incidental non-compliant income, the attributable portion is calculated and reported so it can be given in charity rather than kept.
Important
Screening is not a personal ruling
Following the exchange’s and the Shariah Advisor’s mechanism is not a substitute for your own religious judgement, and scholars differ on particular structures. Nothing on this site is a fatwa. If you need a ruling on a specific holding, consult a scholar of your choosing, and ask us for whatever information you need in order to do so.
Reference
Published sources
These are maintained by the exchange and the Shariah Advisor. We apply them; we do not set them.
Namaa Capital provides retail and institutional investors with access to Shariah compliant capital market solutions, including equity and fixed income products.
Namaa Capital, the Shariah way.
Questions about a specific holding?
Ask the desk and we will tell you how it stands against the mechanism.