Amanie Advisors

What Amanie Advisors does

Amanie Advisors is a privately held Shariah advisory firm founded in 2005 by Tan Sri Dr Mohd Daud Bakar, headquartered in Kuala Lumpur with additional offices in Dubai (DIFC) and London. The firm provides specialized Islamic finance services spanning Shariah advisory and Shariah-board services, Shariah audit, sukuk advisory and structuring, Shariah-compliant structured products (Murabahah, Salam, Islamic FX Wa'ad), public/private equity fund advisory, conversion and establishment of Islamic windows, and project-level feasibility studies. It also offers training and research-and-development services around Islamic finance to institutional and corporate clients, including global banks (Standard Chartered, Mizuho, SMBC, NBK, NAB), Gulf Islamic banks (Dubai Islamic Bank, Emirates NBD, Kuwait Finance House), asset managers (Franklin Templeton, Lombard Odier, Amundi Islamic, PNB), investment banks (Nomura), and digital-asset platforms (Binance, DGCX).

The firm's core asset is the human expertise of its internationally ranked Shariah scholars — notably Chairman Dr. Mohamed Ali Elgari (AAOIFI Shariah Council member, former IsDB Sharia Board chair) and other scholars holding seats on the Dow Jones Islamic Markets Index and S&P Shari'ah Indices — rather than any proprietary software platform. Service delivery is relationship-led via the three regional offices, with the Dubai office headed by CEO Sharafie Mohd Daud and the Kuala Lumpur office by CEO Suhaida Mahpot, supported by COO Erna Waty Salihuddin and CFO Nithin Benny.

Amanie monetizes through professional services fees on a quote-based, engagement-scoped basis. Revenue is generated from recurring Shariah-board mandates, one-off Shariah certifications (most recently the Binance Sharia Earn product), sukuk advisory mandates, fund Shariah-screening engagements, and training programs. Industry recognition includes the IFN 'Best Shariah Advisory Firm' award (2022), IFN Islamic Finance Award (2023), and CIFA 'Best Shari'a Advisory Firm for Islamic Asset Management in the UAE' (2025).

Name

Amanie Advisors

Legal name

Amanie Advisors

Website

https://amanieadvisors.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Amanie Advisors is a privately held Shariah advisory firm founded in 2005, providing Islamic finance consultancy, sukuk advisory, fund structuring, and Shariah audit services to global institutional clients across Malaysia, UAE, and the UK.

Ownership category

akta.pro rank

Product category

Shariah Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

akta.pro secondary industry

Debt Advisory & Financing Advisory (FSAEAGAD)

Keywords

• Shariah advisory services
• Islamic finance consulting
• Sukuk structuring advisory
• Shariah audit compliance
• Islamic fund structuring

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Shariah Advisory and Consultancy: Core revenue stream from providing Shariah advisory services, Shariah board services, and consultancy to financial institutions, asset managers, and corporations seeking Islamic finance expertise and compliance certification.
2. Training Services: Revenue generated from training programs and professional development services in Islamic finance for institutional clients.
3. Research and Development: Revenue from research and development services including development of new Islamic finance products, structuring solutions, and compliance frameworks for clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Amanie Advisors is a Shariah advisory firm that provides Shariah advisory and consultancy, training, and research & development services for institutional and corporate clientele focusing on Islamic financial services. The firm offers Shariah Supervisory Board services, Shariah audit, sukuk advisory, structured products, fund structuring, and conversion/establishment services for Islamic financial entities across Malaysia, UAE, and UK.

Product overview

Amanie Advisors operates as a single unified advisory service rather than a software platform. The firm provides a comprehensive portfolio of Shariah advisory and consultancy services spanning Shariah Advisory and Board Services, Shariah Audit, Sukuk Advisory, Structured Products, Public/Private Equity Funds Advisory, Conversion/Establishment Services, and Projects Advisory. The core offering is professional advisory services delivered by a team of experienced Shariah scholars, supplemented by training and research & development for institutional and corporate clientele. Additionally, the firm provides certification services for Islamic finance products such as the Binance Sharia Earn cryptocurrency savings product.

Differentiator

Problem solved

Functional benefit

Products and services

• Shariah Advisory and Shariah Board Services

Named customers18 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• BinancecoreStrategic or Co-development Partner · 23 February 2026Amanie Advisors serves as the Islamic finance consultancy providing Sharia certification for Binance's Sharia-compliant 'Sharia Earn' product. Amanie Advisors reviews and certifies the product structure, using a purpose-fit Wakala contractual structure reviewed by Sharia scholars. The product offers halal digital asset earning options to users in the MENAP region, initially supporting BNB, ETH, and SOL.
• BinancecoreStrategic or Co-development Partner · 23 February 2026Binance launched Sharia Earn, a Sharia-compliant cryptocurrency savings product certified by Amanie Advisors, allowing users in the Middle East, North Africa, and South Asia region to earn yields on halal-approved digital assets through a Wakala agreement structure. The partnership positions both companies at the forefront of values-aligned financial innovation bridging blockchain technology with Islamic finance principles.
• LunominorStrategic or Co-development Partner · 25 September 2025Tan Sri Dr Mohd Daud Bakar, Chairman of Amanie Advisors, spoke at Luno's LIDAC 2025 conference - Malaysia's first flagship institutional digital asset conference. The event brought together regulators, institutional fund managers, financial advisors and Web3 innovators to examine digital assets' role in institutional portfolios and regulatory compliance.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Shariya Review Bureau: UAE- and Bahrain-based Shari'ah advisory firm providing Shari'ah reviews, audits, and fund certification across Islamic finance. Most directly comparable to Amanie in service scope, client mix (asset managers and banks), and geographic reach across GCC and Southeast Asia.
• Dar Al Sharia: Dubai-based Shari'ah advisory and consultancy serving banks, takaful operators, and sukuk issuers across the GCC. Offers the same core Shari'ah advisory, audit, and product structuring services as Amanie, with significant overlap in client base.
• Yasaar: Dubai-headquartered Shari'ah advisory firm offering Shari'ah reviews, product structuring, training, and ESG-linked Islamic finance advisory. Closely comparable to Amanie's service catalogue and GCC client focus.
• Gatehouse Financial Group: UK-based Shari'ah advisory and gatehouse services with embedded scholars serving UK and European Islamic finance clients. Comparable to Amanie's UK presence and offering overlapping Shari'ah board, advisory, and review services.

Broad incumbents

• KPMG (Islamic Finance practice): Big-4 firm with a dedicated Islamic Finance practice offering Shari'ah advisory, audit, and consulting globally. Competes with Amanie on large institutional mandates but as part of a much broader professional services portfolio.
• Deloitte (Islamic Finance practice): Big-4 firm providing Islamic finance advisory, tax, and consulting services across the Middle East, Malaysia, and globally. Overlaps with Amanie on advisory engagements but operates at far greater scale.
• PwC (Islamic Finance practice): Big-4 firm with a dedicated Islamic Finance and Takaful practice offering advisory, assurance, and Shari'ah-related consulting. A broader incumbent competing for institutional advisory work that Amanie also targets.
• EY (Islamic Finance practice): Big-4 firm with an established Islamic Finance practice covering advisory, tax, and assurance. Notable overlap because EY alumni sit inside Amanie's consultant bench, and the two compete for advisory mandates from large banks.

Emerging players

• AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Bahrain-based standards-setting body for Islamic finance with growing direct advisory and certification programs. Overlaps with Amanie in shaping Shari'ah governance standards and increasingly competes on certification mandates.

Regional players

• Ratings Intelligence: Kuwait-based Shari'ah advisory firm providing Shari'ah reviews, ratings, and compliance services across GCC institutional clients. Comparable to Amanie in advisory scope though more regionally concentrated in Kuwait and Bahrain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/AmanieAdvisors
• Facebookfacebook.com/AmanieAdvisors
• LinkedInlinkedin.com/company/amanie-advisors

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amanie Advisors