Press Releases
Azzad announces completion of independent Islamic audit
(Falls Church, Virginia, 7/12/16) — A leader in Islamic finance in the United States announced today the successful completion of an external Shariah audit and verification of its policies and procedures. Azzad Asset Management, investment advisor to the Azzad Funds, became the first firm in the United States to obtain such a verification with a similar audit in 2015. The audit was conducted by UK-based Islamic Finance Advisory and Assurance Services (IFAAS), a specialist in Islamic accounting that operates according to guidelines established by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). IFAAS’s AAOIFI-certified auditors evaluated Azzad’s Ethical
Azzad clients to donate more than $4 million in charity this Ramadan
FALLS CHURCH, Va., June 21, 2016 — Azzad Asset Management, a socially responsible, faith-based investment firm, announced today that its Muslim clients are expected to donate a record amount of money this year in order to fulfill their religious obligation of giving in charity a certain percentage of their wealth. The company calculates that its clients will give approximately $3.5 million in mandatory charitable giving, or zakah, and an additional $550,000 in purification dues, bringing the total to more than $4 million. Azzad reports the amounts to clients in an annual statement issued during the month of Ramadan. Many Muslims choose to pay their Zakah during Ramadan–a month of fasting,
Financial Times names Azzad a top registered investment adviser for 2016
FALLS CHURCH, Virginia (June 16, 2016) – Socially responsible registered investment adviser Azzad Asset Management announced today that it has been named one of the Financial Times’s 300 Top Registered Investment Advisers. The list recognizes top independent RIA firms across the U.S. The firm said in a statement: “Azzad Asset Management is honored to receive this distinction from the Financial Times, a globally recognized leader in financial data and information. The FT 300 has quickly become an essential resource for savvy investors in search of an unbiased listing of top registered investment advisers in the United States.” This is the
Dr. Abdulbari Mashal joins Azzad Shariah advisory board
(Falls Church, Virginia, 5/24/16) — Azzad Asset Management, investment advisor to the halal, socially responsible Azzad Funds, announced today the addition of Dr. Abdulbari Mashal to its Shariah advisory board. The board is an advisory body focused on best practices in the Islamic finance industry. In a statement, Azzad President and CEO Bashar Qasem said: “We are honored and delighted to welcome Dr. Abdulbari Mashal to Azzad’s Shariah advisory board. Dr. Mashal is a leader in the field of Islamic finance, and we are gratified that he has accepted our offer to work with our team. He brings a wealth
