Shariah compliance

Aligned by construction, not retrofit.

Shariah compliance is not a label we add at the end. Every instrument, every structure, and every venture is designed from the start to align with AAOIFI standards and the principles of Islamic finance, and reviewed independently throughout its life.

Principles

What Shariah alignment means in practice.

No riba (interest)

Capital structures are built on profit-loss sharing (Mudarabah, Musharakah), agency-based investment (Wakalah), and asset-backed mechanisms (Ijarah, Murabahah), not interest-bearing debt.

Real-asset backing

Every Sukuk-style certificate represents pro-rata beneficial ownership in tangible, identified assets, not paper, not pure derivatives, not speculative claims.

No gharar (excessive uncertainty)

Contracts are designed for clarity in rights, obligations, asset definition, and conversion mechanics. Documents are delivered before any commitment is binding.

No maysir (gambling) or prohibited industries

Underlying activities are screened to exclude alcohol, gambling, conventional finance, weapons manufacturing, adult entertainment, and other prohibited industries.

Standards reference

Anchored to recognized international standards.

AAOIFI Standard 17

Investment Sukuk, structure, issuance, asset backing, profit-loss distribution

AAOIFI Standard 23

Wakalah, agency-based investment with profit-share fee structure

AAOIFI Governance Standards

Shariah Advisory Board appointment, fatwa publication, ongoing review framework

IFSB principles

Risk management and capital adequacy framework for Islamic financial institutions

Oversight cadence

Independent review at every stage.

Pre-issuance

Independent Shariah Advisory Board reviews structure, issues fatwa, signs off on offering documents before any subscription opens.

Quarterly

Shariah Advisory Board reviews holdings, transactions, and any structural changes; minutes shared with members.

Annually

Full Shariah audit conducted aligned to AAOIFI standards. Audit findings published.

On material event

Asset additions, dispositions, structural amendments, or new instrument tranches reviewed before execution.

See the fatwa when it publishes.

Safa Global Society members receive the published fatwa, Shariah Advisory Board composition, and quarterly review notes ahead of public release.

Apply to Safa Global Society