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TS-AWM-03 Trust & Stewardship Asset & Waqf Management CORE Excellence v2.9.7

Ethical investment policy

This criterion assesses whether the organization has established and implements a comprehensive policy governing ethical investment of its funds in accordance with Islamic principles. It evaluates the organization's commitment to ensuring that all investments, particularly those of waqf (endowment) assets, avoid prohibited elements while promoting positive social and environmental impact alongside financial returns. Ground policy in Qur’an 4:58 (trusteeship), Qur’an 4:29 (prohibition of unjust consumption), and the preservation of wealth (ḥifẓ al-māl), demanding prudent, transparent, and Shariah-compliant investment. It ensures donor expectations are met per the Code of Fundraising Practice.

Fiqh Principles

Ḥalāl investment

Adherence to Sharia by avoiding Riba, Gharar, and Maysir.

Sadd al-dharā’iʿ

Blocking the means to harm; justifies screening out sectors that cause societal damage.

Lā ḍarar wa lā ḍirār

No harm shall be inflicted or reciprocated; basis for ESG and impact screening.

Ḥifẓ al-māl

Preservation of wealth; a key objective of Shariah, necessitating prudent risk management, especially for Waqf.

Islamic Concepts

Ṭayyib

Wholesome and pure; investing in ethical, beneficial activities.

Maqāṣid al-Sharīʿah

Higher objectives of Shariah, guiding positive screening for holistic value.

Istikhlāf

Stewardship; humanity's role as vicegerents managing God's wealth.

Discussion (1)

Administrator 2026-03-07 11:07:36.064083

📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json

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