Press Releases
Azzad signs statement calling for reforms in Bangladesh manufacturing sector
Investor statement comes after September factory fire kills 35 workers FALLS CHURCH, VA – (October 27, 2016) – Azzad Asset Management, investment advisor to the Azzad Funds, announced today that it has joined a coalition of investors calling on multinational corporations to enact greater protections for factory workers in Bangladesh. This follows a September 10 boiler explosion at the Tampaco Foils Ltd. factory in Bangladesh, which resulted in a fire and building collapse that killed 35 people and injured more than 50 others. The call comes in the form of an investor statement organized by the Interfaith Center on Corporate Responsibility
Azzad welcomes Dr. Mohamad Alzuhili to Shariah advisory board
(Falls Church, Virginia, 10/5/16) — Azzad Asset Management, investment advisor to the halal, socially responsible Azzad Funds, announced today that Dr. Mohamad Alzuhili has joined its Shariah advisory board. The board is an advisory body focused on best practices in the Islamic finance industry. “We are so fortunate to have Dr. Alzuhili join our board,” said Azzad President and CEO Bashar Qasem. “Dr. Alzuhili is a fountain of knowledge whose entire family boasts an outstanding scholarly pedigree.” Dr. Alzuhili earned a doctorate in comparative jurisprudence from Al-Azhar University in Cairo, Egypt. In addition, he was a founding member of the
Azzad joins call for food industry to end use of antibiotics on livestock
FALLS CHURCH, VA, September 19, 2016 — Azzad Asset Management, investment advisor to the Azzad Funds, announced today that it has joined a consortium of responsible investors and shareholder advocacy groups in support of a United Nations’ call to end antibiotic use in global food supply chains. Organized by the Interfaith Center on Corporate Responsibility (ICCR), Farm Animal Investment Risk & Return (FAIRR), ShareAction, and As You Sow, the global investor statement on antibiotic use in livestock is intended to raise awareness of investors’ work on this issue. The statement comes as the UN High Level Meeting on Antimicrobial Resistance
First U.S. halal fixed income fund passes $100 million in net assets
FALLS CHURCH, VA, August 31, 2016) – Azzad Asset Management today announced that its flagship mutual fund — the first halal fixed income fund in the United States — crossed the $100 million threshold in August. A socially responsible, interest-free alternative to bond funds, the Azzad Wise Capital Fund (NASDAQ: WISEX) was launched in 2010. In accordance with the internationally recognized standards for halal (Islamically permissible) investing, WISEX aims to produce a return that is comparable to that of bank accounts and other financial instruments without dealing in interest. By investing primarily in sukuk and Islamic bank deposits it provides
