Lifestyle

To us, sharia compliance is more than just an ethical 'stamp of approval'.

This space is designed to help you understand how sharia tradition flows through our veins, why it is ethical, and what the sentiment really means. Snippets are at times updated, and include various topics - from money, to food, to travel, mental health, charity and much more. With expert opinion and research, our aim is to present educational, bitesize information.

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Sharia Snippets

Check out the below, and learn how our 'rizq' touches us across various aspects of our lifestyle.

Our Process

  • 1
    Research

    Our process begins with identifying topics and issues which Rizq may try to solve, all within a framework of innovation, tradition, and added value.

  • 2
    Structure

    Putting a structure in place that meets the core principles of agile development, operational excellence, financial impacts, sharia compliance, marketing, and other critical pillars.

  • 3
    Communicate

    Communicating our actions and outcomes is essential, as we want our customers to understand the full picture and feel comfortable at all times.

Sharia Compliance FAQ's

1. What is Sharia?

Sharia literally means the path leading to a water place. In the more technical sense, Sharia refers to the entire system of Islamic law and Islamic values derived from the Quran and the teachings of the Prophet Muhammad (peace be upon him).

2. Who can open a Sharia-compliant account?

A Sharia-compliant account can be opened by anyone whether they are Muslim or non-Muslim. A Sharia-compliant account is an account based on ethical values which resonate with all the Abrahamic traditions.

3. Are you Sharia-compliant?

Rizq takes a proactive approach in ensuring that it totally espouses the values of Sharia in all of its activities.

4. How do you measure Sharia-compliance?

Our Shariah advisor has complete oversight of all activities of Rizq. He has reviewed and refined all the agreements, structures, processes and policies of Rizq to ensure they are aligned with Sharia principles.

As part of Rizq’s governance structure, all new agreements, policies, products or facilities go through multiple reviews to ensure compliance from multiple angles. The key filter is Sharia compliance in this governance structure.

In addition, our Sharia team take the lead in all new product development to ensure that the concept, structure, processes, agreements and policies are Sharia compliant from the very foundation.

5. How is Rizq Sharia-compliant?

Rizq is Sharia compliant because our internal structures, products, processes, agreements, policies, corporate culture and values are all continuously reviewed for Sharia compliance.

Our products have been designed to ensure that no prohibition of Sharia is breached. In particular, all Islamic finance principles have been adhered to in our products.

Our agreements and policies have been refined and edited to ensure that any non-Sharia compliance risk is mitigated. Subsequently, all our agreements and policies are Sharia compliant.

Beyond the contractual agreements, our processes, corporate culture and values are designed to espouse Sharia values and embody a holistic Sharia experience.

Interested in opening a Sharia Compliant current account?

Click here to find out more on how to open your Sharia Compliant current account in minutes.
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