Governance
Decisions that hold up to scrutiny.
Safa Global is governed across five independent layers, anchored by a Maltese Foundation with binding consent rights over the operating arms. No single hand on the wheel. Documents over verbal promises. Shariah independence with teeth, not advisory comment power.
Layers
Five independent layers.
Independent Foundation oversight
The Safa Global Foundation (Malta) is the integrity anchor. It holds reserved-matter consent rights over the operating arms, custodies the Safa Global Society register, and is designed to become perpetual steward-owner of the group. The Foundation does not operate; it oversees.
Shariah Advisory Board (binding, Foundation-housed)
A panel of AAOIFI-qualified scholars seated inside the Foundation, not inside operating management. The Board issues binding fatwas before each instrument is issued, conducts quarterly portfolio review, and publishes an annual Shariah audit. A finding of non-compliance halts the activity; management has no override.
Investment Committee (operating)
A cross-disciplinary committee inside Safa Global Capital responsible for asset-level decisions: origination, structuring, due diligence, capital allocation, and disposition. Decisions are documented and the rationale is shared with members. Single-asset moves above 15% of group asset value require Foundation reserved-matter consent.
Audit and risk oversight
An independent registered audit firm reviews financials annually. An independent asset-verification process confirms holdings. A risk-management framework covers market, operational, regulatory, and Shariah-compliance risk, with reports to the Foundation alongside operating leadership.
Member voice (two-phase)
Safa Global Society members participate in governance in two phases. Phase A (today, pre-STAC): direct association-style vote within the Society on policy questions, one Member one vote. Phase B (post-STAC issuance under MICA Article 18): per-matter token voting, where Founding Members receive a +10 bonus and one additional vote per 1,000 STAC held. The Foundation is the integrity custodian for both phases.
Reserved Matters
Foundation consent above the 15 percent threshold.
Certain decisions cannot be taken by operating management alone. They require qualified-majority consent of the Foundation Administrators, sitting independently of operating leadership. The 15 percent of group asset value threshold ensures the Foundation focuses on material, identity-defining decisions rather than day-to-day operations.
- ·Amendment of the mission statement or investment thesis of any operating arm
- ·Departure from AAOIFI compliance or removal of Shariah governance
- ·Sale, transfer, or material restructuring of any single asset above 15% of group asset value
- ·Change of control or merger of any operating arm
- ·Amendment of the Safa Global Society Charter
- ·Distribution policy and waterfall of the Excellence Fund
- ·Appointment or removal of the auditor of any operating arm
- ·Authorisation of any related-party transaction above €250,000
Principles
How we make decisions.
Substance over labels
Every instrument is structured according to its economic substance. Sukuk-style asset-backed certificates are securities under MiFID II once issued, and we structure, document, and govern them accordingly. No "Shariah-compliant by sticker" and no "asset-backed by adjective."
Document-first
No verbal commitments. Every right and obligation lives in subscription agreements, side letters, board resolutions, and Shariah opinions delivered in writing before any commitment is binding. The legal-template package is available to members and counsel for review.
Independence
Shariah Advisory Board, Foundation Administrators, Investment Committee, and audit functions operate independently of operating leadership. The Shariah Board is housed in the Foundation, not in management, so its veto cannot be politely declined.
Long horizon
Governance is built for a ten-year vision (2026–2036), not for short-term marketing wins. The steward-ownership endgame, in which the Foundation eventually owns the group, is designed to remove the founder-succession risk that destroys most family-controlled enterprises by the third generation.
Have a voice in how we build.
Safa Global Society members participate in governance, receive quarterly briefings from the Investment Committee and Shariah Advisory Board, and shape the priorities the operating arms execute.