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Tajweez Advisory, an Islamic Finance advisory firm, provided Shariah Compliance advisory services to Chinese Business Hub (CBH) for its Dubai Commercial Investment.
The Shariah Compliance certificate for the investment product was issued by Sheikh Mufti Muhammad Ibrahim Essa who is an eminent Shariah Advisor having worked with many institutions on several projects in different parts of the world, including US, UK, Japan, and Australia.
“The Dubai Commercial Investment product is structured on the basis of the Shariah concept of Ijarah or Leasing, and is now fully Shariah Compliant”, said Sheikh Mufti Ibrahim while issuing the Shariah Compliance certificate to CBH.
Gavin Smyth, Partner CrownGate Intl, and representing CBH, explained the product features. “It is definitely an attractive investment product. The investors have the opportunity to invest in the revolutionary concept of serviced office units located in Dubai South, which is an emerging 145 sq. km city, home to world's largest airport in the making and of landmark events such as World Expo 2020 and the Dubai Airshow.
With a starting investment amount of USD 30,000 for one workspace serviced office unit, the investors are guaranteed tax-free returns of up to 12% per annum for 10 years to be paid quarterly with no running costs or management fees, an easy exit-strategy, and a 120% guaranteed buyback at maturity.”
“Shariah compliance brings added transparency and ethical values to the business table for the benefit of all, whether a Muslim investor or a non-Muslim,” said Farhan Noor, Executive Director, Tajweez Advisory. “In that regard, CBH's initiative to make its investment product Shariah Compliant is commendable.”
Tajweez Advisory, based in Bahrain and UAE, is the winner of “Best Islamic Finance Offering” award at the Wealth Briefing GCC Region, given by ClearView Financial Media, in 2014, and again in 2015, on the basis of achieving innovation, excellence, and genuine insight.
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