One of the reasons for this low Muslims investor in INDIA Stock Market is the lack of information regarding stock market investment. In general there is misconception in public regarding the Shariah-permissibility of stock market investments. Due to the general perception that stock market investments are often based on speculation, the apprehensions regarding market manipulation, and market features like short-sell and margin borrowing raise doubt regarding the Shariah compliance status of the trading process.
This makes the Shariah Board formation.
Board Members:
- Mufti Hassan Qasmi
- Maulana Abid Ahmed Qasmi
- Hafiz Mohammed Suhaib Khan
- Er. Kashif Rahi
- Mohammad Minhaj
- Aftab Alam
What Shariah Board Do:
• Issuing decisions regarding the Stocks to ensure compliance with the provisions and principles of Shariah.
• Providing ease of mind and confidence to the investor regarding the soundness of stock market investments in the light of Shariah principles.
• In general we follow Darul Uloom Deoband Fatawa & Hanafi Scholars.
• Answering inquiries regarding the Shariah Compliant Stocks Related issues.
• Reviewing the Annual Report of Companies from Shariah point of view.
• Ensuring that stocks upload in the Apps is either fully compliance or non compliance values are correctly taken and calculated by double check by the board members.
• Providing purging formula to make sure the profit earned by the investor is free of any impure money.
• Latest Fiqhi Masaail discussed with Mufti & Ulema for further guidance.
Conclusion:
To serve & guide UMMAH to earn Halal income from share market.
If you have query for our members to ask, contact us on [email protected]