(Falls Church, Virginia, 5/24/16) — Azzad Asset Management, investment advisor to the halal, socially responsible Azzad Funds, announced today the addition of Dr. Abdulbari Mashal to its Shariah advisory board. The board is an advisory body focused on best practices in the Islamic finance industry.
In a statement, Azzad President and CEO Bashar Qasem said:
“We are honored and delighted to welcome Dr. Abdulbari Mashal to Azzad’s Shariah advisory board. Dr. Mashal is a leader in the field of Islamic finance, and we are gratified that he has accepted our offer to work with our team. He brings a wealth of experience and knowledge to the position, both of which are essential to meet the rigorous demands placed on our dedicated board members. We look forward to working with him to maintain the high standards we have set for ourselves at Azzad.”
Dr. Mashal is the chairman of Raqaba, a consulting firm focused on Shariah compliance. As a member of the Shariah advisory board, he will advise Azzad on the company’s Ethical and Shariah Investment Guidelines.
Azzad follows best practices and guidelines issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). AAOIFI is a consortium of Islamic scholars who convene to issue guidelines on Islamic investing and financial matters. AAOIFI Standard Number 21, which outlines the principles of Islamic investing, is considered the authority for Islamic financial services firms.
Dr. Mashal officially joined the Azzad Shariah advisory board on May 1. He joins current board members Dr. Yusuf al Shubaily and Dr. Mohamed Adam El-Sheikh.
ABOUT AZZAD
Azzad Asset Management, investment advisor to the Azzad Funds and sponsor of the Azzad Ethical Wrap Program, is committed to providing investment services designed to help people enjoy optimum performance without compromising their values. Azzad is a member of the Forum for Sustainable and Responsible Investment, the Interfaith Center on Corporate Responsibility, and the Accounting and Auditing Organization for Islamic Financial Institutions. The firm, based outside Washington, DC, is a registered investment advisor with the U.S. Securities and Exchange Commission.
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Contact: Azzad Investment Communications Director Joshua Brockwell, 703-207-7005, ext. 109, joshua@azzad.net; Azzad Marketing Associate Amina Rubin, 703-207-7005, ext. 120, amina@azzad.net
