Our Certified Shariah Advisor, ISRA, Was Established By The Central Bank of Malaysia ("Bank Negara Malaysia") As An Islamic Finance And Shariah-Related Institution.
Their Expertise Lies In Providing Shariah Advisory Relating To Islamic Capital Market Products Or Islamic Capital Market Services, Including Matters Relating To Documentation, Structure, Features, And Investment Instruments And Ensuring That All Aspects Of The Products And Activities In QuicKash Are Following Shariah Requirements, As Set Out In The Relevant Securities Laws And Guidelines Issued By The Securities Commission Malaysia ("SC").
ISRA Is Also Recognized Globally As A Leading Global Premier Research Academy In The Islamic Finance Industry With Numerous Recognitions For Its Contributions.
As ISRA Serves As The Islamic Advisor For QuicKash, We Aim To Provide Investors With Confidence In Investing In Our Islamic Investment Notes by Ensuring Strict Adherence To Our Regulations And Procedures, Guided By Expert Advice And Established Guidelines.
1. What is The Difference Between Conventional Investment Notes And Islamic Investment Notes?
Conventional Investment Notes
These Investment Notes Operate Within The Framework Of Conventional Finance Principles, Which Are Not Restricted By Religious Considerations. The Primary Objective Is Typically To Maximize Financial Returns.
Islamic Investment Notes
On The Other Hand, These Notes Will Be Adhering To Islamic Finance Principles Known As Shariah And According To Islamic Law. The Primary Objective Is To Generate Profits While Adhering To Shariah Principles.
2. Are All Businesses (Issuers) Eligible To Apply For Islamic Investment Notes?
Above All, The Islamic Principles Prohibit The Involvement In Interest (Riba), Uncertainty (“Gharar” - Unclear Terms In A Contract, Uncertain Outcomes, Or Ambiguous Information Provided During A Transaction, No Transparency), Gambling (Maysir), And Investments In Businesses That Are Considered Haram (Forbidden) According To Islamic Law.
Therefore, Any Type Of Businesses Whose Principal Activities Are Shariah-Compliant And Does Not Involve In Any Of Stated Above Are Eligible To Apply For Islamic Financing. Nevertheless, The Ultimate Decision Regarding What Is Deemed Shariah-Compliant On QuicKash's Platform Rests With QuicKash's Shariah Advisors Advices.
3. What Are Examples Of Businesses That Are Not Shariah-Compliant?
- Conventional Banking And Lending
- Conventional Insurance
- Gambling
- Liquor And Liquor-Related Activities
- Pork And Pork-Related Activities
- Non-Halal Food And Beverages
- Shariah Non-Compliant Entertainment
- Tobacco And Tobacco-Related Activities
- Prostitution
- Pornography
- Other Activities Deemed Non-Compliant According To Shariah Principles As Determined By The Shariah Adviser
*This List May Be Revised And Updated Periodically Based On Advice From QuicKash's Islamic Advisors.
