Shariah Compliance | Salaam Investment Bank Kenya | CMA Licence No. 115
Independent Certification  ·  All Products & Transactions

Every Investment,
Certified Compliant.

Our independent Shariah compliance framework screens and certifies every product, transaction, and portfolio mandate — continuously, across both service lines. Not self-assessed. Independently overseen.

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100%
Products Screened
Independent
Not Self-Assessed
Continuous
Ongoing Monitoring
Both
Service Lines Covered
Our Framework

The Four Pillars of Our Shariah Framework

SIBK's Shariah compliance framework is built on four non-negotiable principles that apply without exception to every product, transaction, and portfolio mandate we manage or advise on.

These are not guidelines or aspirational targets — they are operating constraints that govern every engagement from mandate inception through to execution and ongoing monitoring.

See Our Certification Process ↓

No Riba — Prohibition of Interest

All products and transactions are structured to eliminate interest-bearing arrangements entirely. No conventional loans, bonds, or deposit products. Every instrument uses profit-sharing, cost-plus, or lease-based structures.

No Gharar — Prohibition of Uncertainty

Transparent terms, clearly defined outcomes, and no speculative structures. Contracts must be unambiguous — no excessive uncertainty in the subject matter, price, or delivery of a transaction.

Halal Sectors Only — Prohibited Industries Excluded

Tobacco, alcohol, conventional banking and insurance, weapons, gambling, pork products, and entertainment containing prohibited content — all screened and excluded from our investment universe.

Independent Oversight — Not Self-Assessed

Every product and transaction is certified by an independent Shariah Compliance Officer — not assessed internally by SIBK. This independence is fundamental to the integrity of our framework.

How We Certify

The Shariah Certification Process

Every new product, instrument, or transaction type passes through a rigorous four-stage certification process before being offered to clients or included in any portfolio mandate.

Initial Screening
Business activity, revenue sources, financial ratios, and transaction structure assessed against SIBK's Shariah compliance criteria and AAOIFI standards.
SCO Review
The independent Shariah Compliance Officer conducts a detailed review — examining structure, documentation, and any areas of ambiguity requiring scholarly guidance.
Certification
Products and instruments that satisfy all Shariah criteria receive formal certification. Any failing criteria require restructuring before resubmission — no exceptions.
Ongoing Monitoring
Certified products are monitored on a continuous basis for compliance drift — reviewed quarterly at minimum, with immediate de-listing if a breach is identified.
Certified Instruments

Shariah-Compliant Financial Instruments

The instruments available across SIBK's two service lines — each independently certified and continuously monitored for compliance.

Sukuk
صكوك — Islamic Bonds
Asset-backed certificates of ownership representing proportional ownership in an underlying asset or project. Available in Ijarah, Murabaha, Musharakah, and Wakalah structures. No interest — returns derived from asset performance or lease income.
Murabaha
مرابحة — Cost-Plus Financing
A cost-plus sale contract where SIBK purchases an asset and sells it to the client at a disclosed mark-up, with deferred payment. Used for trade finance, working capital, and asset acquisition. The profit margin is fixed at inception — no floating interest.
Ijarah
إجارة — Islamic Lease
A leasing arrangement where ownership of the asset remains with the lessor while the lessee benefits from its use. Ijarah wa Iqtina structures allow the lessee to purchase the asset at the end of the term. Returns are derived from rental income, not interest.
Musharakah
مشاركة — Partnership
A joint venture or partnership structure where all parties contribute capital and share in profits and losses proportionally. Used for project finance and equity co-investment. Profits and losses are shared — not guaranteed, and not interest-based.
Shariah-Screened Equities
أسهم متوافقة
Equities in companies whose primary business activity is halal and whose financial ratios satisfy quantitative Shariah screening criteria — including limits on conventional debt, interest income, and prohibited revenue as a proportion of total income.
Islamic Collective Investment Schemes
صناديق إسلامية
CMA-approved unit trusts and CIS funds that invest exclusively in Shariah-compliant instruments. All underlying holdings are screened and certified. Available for both discretionary and non-discretionary portfolio mandates.
What We Exclude

Prohibited Elements in Our Framework

These elements are absolutely prohibited under SIBK's Shariah compliance framework. No exceptions are made regardless of commercial considerations.

Any existing holding or instrument identified as containing a prohibited element is removed from the portfolio or investment universe immediately — not at the next scheduled review.

Riba — Interest & Usury

All forms of interest — whether received or paid. Conventional bonds, fixed deposits, overdrafts, and any instrument with a guaranteed return based on principal are excluded.

Gharar — Excessive Uncertainty

Speculative instruments, derivatives with uncertain outcomes, and contracts with ambiguous terms. Options, futures, and conventional insurance structures are excluded.

Maysir — Gambling & Speculation

Any transaction that is substantially equivalent to gambling — including highly speculative short-selling, certain structured products, and all direct gambling industry exposures.

Haram Sectors

Alcohol, tobacco, pork products, conventional financial services (banking and insurance), weapons manufacturing, adult entertainment, and gambling — all screened and excluded from the investment universe.

Independent Oversight

Our Shariah Compliance Officer

SIBK's Shariah Compliance Officer operates independently of management — providing objective certification that is not subject to commercial pressure or internal influence.

SCO
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[Shariah Compliance Officer Name]
Shariah Compliance Officer — SIBK
Full biography — 120–160 words covering Islamic finance qualifications, scholarly credentials, institutional experience, and mandate at SIBK. Details to be provided by management. The SCO's role covers the certification of all products, instruments, and transaction structures offered by SIBK, as well as ongoing monitoring of the Shariah compliance of all active portfolio mandates.
Qualifications pending Credentials pending Institutional background pending
TitleShariah Compliance Officer
Appointed bySIBK Board of Directors
Reports toBoard — independent of management
Contact[Compliance email — pending from management]
Full Coverage

Shariah Compliance Across Both Service Lines

Our framework does not apply to some products and not others. Every engagement — advisory or portfolio management — operates under the same compliance standards.

M&A Advisory
All transaction structures reviewed for Riba, Gharar, and prohibited business activity before mandate execution.
Capital Raising
Equity and debt structures certified — including Sukuk, Murabaha, and Ijarah capital instruments for Islamic finance mandates.
Discretionary Portfolios
Every holding in Shariah-mandate portfolios independently screened at inception and monitored on a continuous basis.
Non-Discretionary Advisory
All investment recommendations for Shariah mandates reviewed and certified before being presented to clients for approval.
Institutional Mandates
Quarterly board-level Shariah compliance reports provided — covering holdings, any compliance events, and framework updates.
Speak to Our Team

Questions About Our Shariah Framework?

Our Shariah Compliance Officer and advisory team are available to discuss any aspect of our compliance framework, certification process, or the Shariah treatment of specific instruments or transactions.

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