Our ethical principles
Your success starts here

Islamic Investment


Islamic Investment Principles are strictly observed by Hejaz. For an investment to comply with Sharia, there are a number of principles it must abide by:

Riba (prohibition of interest or usury)
Haraam income (impermissible investments)
Maisir/maysir (speculation and/or gambling
Gharar (excessive uncertainty)

Our Principles

The Accounting and Auditing Organization for Islamic Financial Institutions(AAOIFI) is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions and the industry.

Our Sharia Compliance Board

Global Islamic Financial Services Firm propriety limited (GIFS) is a South Africa based company specialized in providing Sharia Advisory services, supervision, Sharia auditing and human capital development. GIFS provide a superb quality of Sharia advisory and training to Financial Institutions who wish to offer for Islamic Financial Products to their clientele. They offer a diverse range of customized and tailored Shariah Consultancy Services which are seamlessly integrated into practical solutions that suits their clients complex and diverse business needs. Their advisory board comprises of experienced scholars and financial experts who bring their expertise and insight to meet the client’s needs.

Our Sharia Screening Provider

IdealRatings, Inc. is a world class provider of financial research and data. With its extensive experience in fund management and research, IdealRatings has developed a number of solutions to cater to the different needs of asset managers across the globe. IdealRatings launched its flagship product; Sharia compliant asset management services, which was a true breakthrough and has indeed taken the industry to the next level.


Riba is a central tenet of the Islamic finance system, literally meaning “an excess”, and interpreted as “any unjustifiable increase of capital whether in loans or sales”.

The charging and receiving of interest is strictly forbidden by Shari’ah Law. This is commonly referred to as riba or usury. If a positive, fixed, predetermined rate is attached to the maturity and the amount of principal (i.e. a guaranteed rate regardless of the performance of the investment), it will be considered riba and is prohibited. The general consensus among Islamic scholars is that riba covers not only usury but also the charging of “interest” as widely practised. Riba encompasses any return of money on money, regardless of whether the interest is fixed or floating, simple or compounded, and at any rate.

Riba is strictly prohibited in accordance with Islamic tradition as the payment or receipt of interest is deemed unjust and exploitative.

The Qur’an overtly prohibits riba, and as the source of guidance for Muslims, all Muslim authorities agree on its prohibition. The Qur’an addresses the issue of riba in 12 verses: three times in 2:275, and once in 2:276, 2:278, 3:130, 4:161 and 30:39.

“Allah has permitted trade and forbidden riba” (Qur’an 2:275)


Islamic principles prohibit investment in corporations involved in business activities deemed impermissible under conventional Islamic law. Haraam business activities include the manufacturing or marketing of such products or services as alcohol, pork, tobacco, pornography, prostitution, gambling, weaponry and many forms of Western entertainment and advertising that are contrary to Muslim values.

The prohibition of riba also places restrictions on business activities. Muslims cannot invest in businesses that operate on interest payments, like major Western banks and mortgage providers. As Muslims may not be involved in gambling related businesses, types of trading such as shorting and derivatives are prohibited.


The principle of maisir prohibits speculation or gambling. It is prohibited in Islamic finance to create wealth from chance instead of productive activity.

This principle is the basis for disallowing speculative practices, including conventional insurance. It also prohibits derivatives, forwards, options and futures, which are all considered a form of gambling.

Day trading involves watching the market and buying and selling on short-term price fluctuations, often within the same trading day. The high risks involved with day trading means it is deemed closer to gambling and must therefore be avoided on religious grounds.


Islamic scholars have stated that maisir (gambling) and gharar are related. Gharar refers to any element of absolute or excessive uncertainty in any business or contract. Gharar may lead to undue loss to a party and unjustified enrichment of another, and is prohibited under Shari’ah. As all business involves some level of risk, a certain level of uncertainty is tolerated. In contrast, where referring to deceit or fraud, gharar is an absolute concept. The principles of gharar are the basis for disallowing investment practices such as short selling, speculation and derivatives. Financial products where details of the conditions of sale are unknown or uncertain are generally forbidden; for example, derivatives products are prohibited as the buyer pays in advance for something he is not guaranteed to receive.

We Avoid Companies And Industries That Affiliate With:

We dont invest in