WE ARE STRICTLY
SHARIAH BASED
Shariah Compliance is not merely a function here at biniyog.io .
We strictly hold our business conduct according to Islamic Shariah principles and values.
How Do We Manage Shariah?
biniyog.io has been engaged with IFA Consultancy, a Bangladesh-based Shariah advisory firm, which aids biniyog.io in adhering to best practices and guidelines on Shariah governance. In this capacity, IFAC facilitates Shariah-related discussions, product research, and Shariah reporting, collaborating with relevant stakeholders to reinforce Shariah principles across the organisation. IFAC provides and ensures the independence and autonomy of the Shari'ah Supervisory Committee members from biniyog.io, fostering effective decision-making and Shari'ah assurance practices. When businesses apply for financing, biniyog.io thoroughly checks whether their business activity and use of funds are in line with the principles of Shari'ah. That’s a prerequisite for going live on our platform as an investment opportunity. Our team is trained to ensure that these values are regularly and consistently met. We have a committed Shari'ah Supervisory Board that oversees all processes, conducts, and contracts; recommending any changes deemed necessary to meet Islamic Shari'ah compliance rules. We run our business without compromising on our faith and religious values.
SHARIAH MADE SIMPLE
How we approach Shari'ah compliance and the processes we have in place to make sure your money is always aligned with your faith. Our Shari'ah supervisory board, along with our team, ensures Shariah compliance by, → Verifying the platform's compliance with the advisors' decisions across all processes and contracts. → Clarifying Shari'ah provisions in all financial and investment transactions on the platform. → Receiving legal-related feedback, whether inside or outside the platform. → Providing advice and guidance to maintain shari'ah-compliance throughout all platform transactions.
OUR SHARIAH GUIDELINES
IFA Consultancy is a pioneer institution in Bangladesh that provides training and consultancy on Halal & Islamic Finance, aiming towards a Halal & Sustainable Economy. IFAC’s team of experts includes Certified Shari’ah Advisors & Auditors from Bahrain-based AAOIFI, Certified Muftis from recognised Shari’ah institutions, and other globally recognised Shari’ah scholars, Islamic Finance experts and practitioners. AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) is a Bahrain-based international autonomous non-profit body that prepares governance, ethics, and Shari’ah standards for Islamic financial institutions worldwide.
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Our halal investments are structured in accordance with the strictest Islamic principles.
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support@biniyog.io
Company
Office House #02, Dhanmondi 27, Dhaka 1209
Contact +880 1886 064 045
