GIH partners with Touchwood
GIH partners with Touchwood Investment Plc (TWOD) to launch Sri Lanka's first Shariah Complaint agro investment platform. Touchwood is a public company, listed in the Colombo Stock Exchange (CSE) and are considered as pioneers and specialist in agro and plantation investment and management business.
GIH ventures into retail business with the launch of "The Souq"
GIH launches ''Islamic Securities Account'' (ISA) in collaboration with Capital Trust Securities.
The participation of Muslims in the Colombo Stock Exchange (CSE) was minimal due to the lack of guidance on the permissible shares a Muslim could invest in. Although investments in equities were generally permissible, the lack of clear guidance made it difficult for Muslim investors to identify shares that were deemed permissible from the Shariah perspective.
ISA will provide the much needed breakthrough for Sri Lankan Muslim investors to participate meaningfully in the CSE in the future. GIH under the guidance of its Shariah Advisory & Supervisory Board (SASB) provides investors with a list of Shariah compliant shares (White List), excluding shares of companies involved in activities containing non-permissible elements such as riba (interest), gambling and gaming, non-halal food and liquor related activities. GIH’s collaboration with CTS will enable GIH to scrutinize, supervise and monitor all ISA related activities closely and thereby provide the Muslims a truly dedicated Shariah compliant trading platform.
GIH appoints an eminent group of scholars to its Shariah Board.
Effective July 1st 2010, GIH has appointed Dr. Mohamed Ali Elgari, Dr. Mohamed Daud Bakar, Dr. Muhammad Amin Ali Qattan and Dr. Osama Al Dereai to its Shariah Advisory and Supervisory Board (SASB). SASB consists of an eminent group of scholars with diverse ethnic and professional backgrounds who are considered authorities in Islamic jurisprudence and finance by the Islamic finance industry. The scholars of SASB are composed of Amanie Shariah Supervisory Board members.