Shariah Certification

Last Updated: May 10, 2025

1. Introduction

Cookierem is committed to providing financial services and products that comply with Islamic principles. This page explains our Shariah certification process and the standards we adhere to.

2. Our Shariah Certification

Cookierem has been certified as Shariah-compliant by the International Shariah Advisory Board (ISAB), a respected authority in Islamic finance. This certification confirms that our platform, products, and services adhere to Islamic principles.

3. Shariah Compliance Standards

Our platform adheres to the following Shariah principles:

• Prohibition of Riba (Interest): We do not charge or pay interest on any transactions.
• Prohibition of Gharar (Excessive Uncertainty): We ensure that all transactions are clear and transparent.
• Prohibition of Maysir (Gambling): We do not engage in or facilitate gambling activities.
• Ethical Investments: We only invest in and facilitate investments in ethical and Shariah-compliant businesses.
• Fair and Transparent Transactions: All transactions on our platform are conducted with fairness and transparency.

4. Shariah Supervisory Board

Our Shariah Supervisory Board consists of qualified scholars who specialize in Islamic jurisprudence and finance. The board reviews our products, services, and operations to ensure ongoing compliance with Shariah principles.

The current members of our Shariah Supervisory Board are:

• Dr. Ahmad Al-Farsi, Chairman
• Dr. Sarah Rahman, Member
• Dr. Mohammed Al-Qasim, Member

5. Shariah-Compliant Products

Our platform offers the following Shariah-compliant products:

• Musharakah (Partnership): Co-ownership contracts for real estate and other assets.
• Mudarabah (Profit-Sharing): Investment partnerships where one party provides capital and the other provides expertise.
• Ijarah (Leasing): Lease agreements for various assets.
• Sukuk (Islamic Bonds): Asset-backed securities that comply with Islamic principles.

6. Annual Audit

We undergo an annual Shariah audit to ensure ongoing compliance with Islamic principles. The audit is conducted by independent Shariah auditors who review our operations, transactions, and financial statements.

7. Zakat Calculation

We provide tools to help our users calculate their Zakat (obligatory charity) on their digital assets and investments. These tools are reviewed and approved by our Shariah Supervisory Board.

8. Continuous Improvement

We are committed to continuously improving our Shariah compliance. We regularly review our products, services, and operations to ensure they meet the highest standards of Islamic finance.

9. Certification Documents

You can download our Shariah certification documents below:

• Shariah Compliance Certificate (PDF)
• Annual Shariah Audit Report (PDF)
• Shariah Supervisory Board Statement (PDF)

10. Contact Us

If you have any questions about our Shariah certification or compliance, please contact us at shariah@cookierem.com.