TTawakkul
Start

Invest

The fundsCompare the optionsRegistered accountsNon-registered and corporatePrivate WealthHow it works

Shariah

Certification and scopeThe FatwaBoard of Shariah AuditorsZakat calculatorGrowth calculator

Learn

Tawakkul AcademyQuestionsCanadian housingWho holds your money

Partner with us

Tawakkul Private WealthInstitutional and waqf capitalFor advisors and dealersCommunity partnershipsAll the ways to partnerCheck you are dealing with us

Own property

The Share Swap ProgramBring us your propertyWhat Canada has instead of a 1031 exchangeCommunity partnerships

Live in one

Living at a Tawakkul communityThe published rents, city by cityJoin the interest listHow affordable housing worksThe communities

Tawakkul

AboutThe managerBoard of AdvisorsCommunitiesInvestor portalYour accountFollow us
Register your interestStart your subscription
Every subscription is reviewed and approved by Drake Financial Ltd., a registered exempt market dealer — independently of Tawakkul. Why that matters

Shariah governance

The Board of Shariah Auditors.

An independent external body, drawn from the Islamic Finance Advisory Board. Independence is the whole point: a Shariah board employed by the fund it certifies is certifying itself.

ExternalNot employees of the manager. Convened through the Islamic Finance Advisory Board.
OngoingCertification is not a one-time event. The structure is reviewed as the fund operates.
ScopedThe Fatwa covers the Tawakkul REIT structure. Each additional fund requires its own.

Imam Dr. M. Iqbal Al-Nadvi

Chair, Board of Shariah Auditors · Al-Falah Islamic Centre, Oakville

PhD in Islamic Shariah with a specialisation in fiqh; authority to issue fatwa.

  • PhD in Islamic Shariah (law), specialisation in jurisprudence
  • License in Shariah, Islamic University of Medina, 1978
  • MA in Islamic Law, Umm Al-Qura University, Makkah, 1983
  • Oriental Degree in Islamic Studies, Nadwatul Ulama, Lucknow, 1967
  • Ḥāfiẓ of the Qur'an
More

Taught Islamic Shariah and jurisprudence at King Saud University for six years, covering usul al-fiqh, Islamic culture, Islamic political thought and organisational jurisprudence. Formerly imam in Calgary; now at Al-Falah Islamic Centre in Oakville.

Imam Dr. Hamid Slimi

Board member · Sayeda Khadija Centre · Faith of Life Network · Islamic Institute of Toronto

PhD in Islamic Law; Chairman of the Canadian Council of Imams.

  • PhD in Islamic Law (United Kingdom)
  • Two Master's degrees with High Honours — Islamic Studies, Comparative World Religions
  • Ijazah and Graduate Shahadat in Fiqh and Usul al-Fiqh
  • Arabic, French and English
More

Fourteen years as imam, chaplain, educator and consultant in Canada. Specialises in jurisprudential rules, maqasid and comparative jurisprudence across the four madhabs. Author of Terrorism: An Islamic Perspective, and producer of more than two hundred programmes on matters of faith.

Imam Nafees Bhayat

Board member · Islamic Propagation Centre of Ontario — Jame Masjid, Mississauga

Head Imam and Director of Religious Services; Shariah advisor to several firms.

  • Ḥāfiẓ of the Qur'an at thirteen
  • Degree in Islamic theology, 1992
  • Six years at Darul Uloom, Bury, in tafsir, hadith, fiqh, theology and Arabic
  • Ontario registered Minister of Religion and licensed Marriage Officer
More

Executive member of the Canadian Council of Imams and the Canadian Council of Muslim Theologians. Teaches at the Ad-Duha Institute of Islamic Sciences, and his weekly Qur'anic exegesis classes draw hundreds of participants.

The ruling itself

Read the Fatwa rather than take our word for it.

The full text, what it covers, and what it does not.

The Fatwa
Is the Shariah board paid by Tawakkul?
Members of an external Shariah board are ordinarily compensated for their time, as any professional adviser is. What matters for independence is that they are not employees of the manager, that the scope of their review is published, and that they can decline to certify. All three hold here.
Can a Shariah certification be withdrawn?
Yes. A certification describes a structure. If the structure changed materially — if the fund began using conventional debt, for example — the certification would no longer describe what exists, and the board would be entitled to say so.
Why obtain more than one fatwa?
Because Canadian Muslims do not follow one school or one scholar, and a ruling from a scholar a family already trusts carries weight that a ruling from a stranger does not. Additional rulings are being sought, and each will be published here in full with its scope stated.
Does the Fatwa mean my investment is safe?
No, and no scholar has said otherwise. A Shariah certification is about the permissibility of the structure — no interest, no impermissible income, real assets. It says nothing about whether the investment will make money. You can lose your entire investment in a fully compliant fund.

Certified, and checkable.

Read the Fatwa, then decide.

Start your subscription Send me the Offering Memorandum

Or book fifteen minutes, or call 905 949 9119 and we will walk you through it.

WhatsApp

One email a month.

What is being built, what is opening, and what we are learning about halal investing in Canada. No selling, and one click to stop.

By subscribing you consent to receiving commercial electronic messages from Ahmed Asset Management Inc., 1–1024 Dundas Street East, Mississauga ON L4Y 2B8. Unsubscribe from any message.