Islamic finance is a financial system that operates in accordance with Islamic law (Shariah). It prohibits interest (riba), excessive uncertainty (gharar), gambling (maysir), and investment in prohibited industries such as alcohol, gambling, pork, and weapons. Instead, it promotes profit sharing, asset-backed transactions, and ethical investments.

No, Islamic finance is for anyone seeking ethical, transparent, and asset-backed financial solutions. Many non-Muslims choose Islamic finance because of its ethical principles, risk-sharing model, and avoidance of speculative transactions.

Baashir Advisory specializes exclusively in Islamic finance and Shariah compliance. Our services are reviewed by qualified Islamic scholars, and we focus on practical implementation – not just theory. Our name "Baashir" means "the implementer" and "the bringer of good news."

Zakat is one of the five pillars of Islam. It is a mandatory charitable contribution of 2.5% of qualifying wealth that has been held for one lunar year (hawl). Every Muslim who possesses wealth above the nisab threshold is obligated to pay zakat.

Zakatable assets include cash, gold and silver, business inventory, agricultural produce, livestock, investment shares, and rental income. Personal assets such as your home, car, clothing, and household items are generally not subject to zakat.

Nisab is the minimum amount of wealth a Muslim must have before zakat becomes due. It is calculated based on the value of 85 grams of gold or 595 grams of silver (whichever is lower). Most scholars use the silver standard as it is lower and ensures more people pay zakat.

According to the Quran (9:60), zakat can be distributed to eight categories: the poor, the needy, zakat administrators, those whose hearts are to be reconciled, freeing captives, those in debt, in the cause of Allah, and the stranded traveler.

Yes, every Muslim should have an Islamic will (wasiyyah). It ensures your assets are distributed according to Shariah principles, appoints guardians for minor children, and allows you to make bequests up to one third of your estate. Without a will, your assets may be distributed according to local laws which may not align with Islamic inheritance rules.

Faraid is the Islamic law of inheritance derived from the Quran. It specifies fixed shares for eligible heirs including spouses, children, parents, and siblings. The system ensures fair distribution of wealth and prevents disputes among family members.

If you die without an Islamic will, your assets will be distributed according to Hong Kong's intestacy laws, which may not align with Islamic inheritance principles. This could result in your assets being distributed differently than what Shariah requires, potentially causing family disputes.

An investment is halal if the underlying business does not deal in prohibited activities (alcohol, gambling, pork, interest-based finance, etc.) and the financial structure avoids interest (riba) and excessive uncertainty (gharar). The company must also meet certain financial ratio criteria regarding debt and interest income.

Yes, investing in stocks is generally halal provided the company's primary business is permissible and the company meets Shariah screening criteria. However, trading practices such as short selling, margin trading, and derivatives are generally not permitted.

Sukuk are Islamic bonds that represent ownership in an underlying asset rather than debt. Sukuk holders receive a share of the profit generated by the asset, not interest payments. This makes Sukuk Shariah-compliant as opposed to conventional bonds which involve interest.

A Nikah contract is the Islamic marriage agreement between a husband and wife. It outlines the rights and responsibilities of both parties, specifies the mahr (dower), and may include additional conditions agreed upon by both spouses.

Mahr is a mandatory gift from the husband to the bride at the time of marriage. It is the wife's exclusive property and can be cash, gold, property, education, or any other agreed upon value. The mahr can be paid immediately or deferred.

Conventional mortgages involve interest (riba) and are therefore not halal. However, Islamic home finance products such as Diminishing Musharaka and Ijara provide Shariah-compliant alternatives. These structures involve partnership or lease-to-own arrangements without interest.

Islamic car finance typically uses Murabaha (cost plus sale) or Ijara (lease to own) structures. The bank buys the car and sells it to you at a fixed profit margin, or leases it to you with ownership transferring at the end of the term. No interest is involved.

Takaful is Islamic insurance based on the principles of mutual cooperation and shared responsibility. Participants contribute to a fund that is used to support any member who suffers a loss. Takaful avoids the elements of uncertainty (gharar) and gambling (maysir) found in conventional insurance.

We offer a wide range of Islamic finance services including zakat calculation, Islamic wills, nikah contracts, inheritance planning, halal investment screening, corporate zakat, Shariah compliance audits, and referrals for halal car and home finance.

Yes, all our services are reviewed by qualified Islamic scholars to ensure they comply with Shariah principles. Our Shariah Advisory Board provides oversight and guidance on all matters.

You can book a consultation by contacting us through our contact page, emailing info@baashir.com.hk, or calling +852 44218514. We offer a free initial 15-minute consultation to understand your needs.