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Enterprise desk · IPO readiness

Pre-IPO Shariah Screening

Independent screening for corporates planning an IPO or dual listing who need clear Islamic investor readiness — advisory opinions and memos, not a listing mandate.

Activity screenFinancial ratiosPurificationProspectus memo

Screening checklist

Business activity — prohibited sectors and core revenue map
Financial ratios — debt, interest income & expense (educational thresholds)
Non-compliant income identification & purification schedule
Prospectus / offering memo — Shariah disclosure language
Remediation notes for management & counsel

Who & where

Built for IPO-bound corporates

Issuers preparing a primary or dual listing who want documented readiness for Shariah-conscious investors — without positioning us as sponsor, underwriter, or SFC-licensed adviser.

Hong KongGCC investorsSoutheast Asia

Scope

What the engagement covers

Business activity screening

We map primary and material secondary lines of business against commonly applied AAOIFI-aligned sector screens — excluding prohibited activities (e.g. conventional interest-based finance as core business, alcohol, gambling, pork, adult entertainment). Findings are advisory and educational for your board and counsel.

Financial ratio review

Educational assessment of leverage, interest-bearing debt, and interest income/expense relative to widely referenced screening thresholds used by Islamic investors. We explain methodology and gaps — we do not certify “pass/fail” as a regulatory approval or rating.

Purification schedule

Where non-compliant income is identified, we outline a purification approach and calendar suitable for investor dialogue — amounts and charity routing remain your management’s responsibility.

Prospectus memo

A written Shariah screening memo your legal and listing teams can use when drafting disclosures for Shariah-conscious investors. We review language for accuracy; your counsel owns the prospectus.

Process

From kickoff to roadshow memo

01

Intake & NDA

Share financials, segment notes, and listing timeline. We confirm scope and AAOIFI-aligned methodology.

02

Activity & ratio screen

Parallel review of business lines and educational financial-ratio analysis against investor-facing screens.

03

Findings workshop

Walk management and counsel through gaps, remediation options, and purification implications.

04

Deliverables pack

Screening report, purification schedule, and prospectus memo ready for your roadshow materials.

Screening reportActivity and ratio findings with methodology notes.
Purification scheduleIdentified income and suggested purification cadence.
Prospectus memoDisclosure-oriented language for counsel to adapt.
Remediation briefPractical steps before launch — advisory only.

FAQ

Pre-IPO screening FAQ

Are you an SFC-licensed sponsor or IPO adviser?
No. Baashir provides independent Shariah advisory only. We are not SFC-licensed and do not act as listing sponsor, underwriter, or corporate-finance adviser.
Do you follow AAOIFI standards?
Yes — our screening methodology is AAOIFI-aligned where applicable. Thresholds and sector lists are presented educationally for Islamic investor readiness dialogues.
Is this a guarantee that Islamic funds will invest?
No. Screening improves readiness documentation. Each fund applies its own mandate; investment decisions remain with the investor and their advisers.
How long does a typical engagement take?
Often 2–4 weeks depending on data quality and complexity. Urgent IPO calendars can be scoped on a custom timeline.

Request a pre-IPO screening quote

Share your listing market, timeline, and available financials. We will propose a scoped advisory engagement.

Custom quote