Minhaj Advisory

Islamic Finance Advisory and Professional Trainingminhajadvisory.com

Minhaj Advisory is a Dubai-based Islamic finance firm providing end-to-end Shari'ah advisory services (Fatwa, compliance certification, audit, product structuring) and AAOIFI/CISI professional training across banking, takaful, capital markets, and Islamic FinTech sectors globally.

Company typePrivate
Founded2010
HeadquartersDubai, United Arab Emirates
Headcount101–250
GTM typeB2B
OfferingServices

What Minhaj Advisory does

Minhaj Advisory is a Dubai-based, privately held Shari'ah advisory and Islamic finance training firm founded in 2010, operating two integrated divisions. The Advisory division delivers end-to-end Shari'ah solutions including Shari'ah compliance certification, Fatwa pronouncement, audit and governance, product structuring, Sukuk structuring, Shari'ah board formation, Zakat calculation, financial institution conversion, and Islamic FinTech advisory. The Minhaj Training division is an AAOIFI Gold Certified Education Partner and official exam center, delivering bilingual (Arabic/English) preparation for AAOIFI certifications (CSAA, CIPA, CPSS, CSE, CPAAGE) and CISI qualifications (FIBF, IFQ, International Introduction to Securities and Investment, ICWIM).

The firm's business model is a professional services + education model. Advisory fees are quote-based on engagements with Islamic banks, government bodies, stock/commodity exchanges, sukuk issuers, investment funds, takaful operators, Islamic FinTech firms, and other financial institutions — the most prominent documented engagement being the issuance of the Shari'ah Pronouncement for DGCX's Shari'ah Compliant Spot Gold contract (DGSG). Training revenue is generated through professional certifications, exam center fees, in-person delivery at the Dubai headquarters, and, since the August 2020 MOU with TAIF Digital Institute, digital learning solutions channeled to global clients.

The company is led by Sheikh Prof. Dr. Nazih Hammad (Head of Shari'ah Board, 40 years of global Islamic finance experience), Dr. Amin Fateh (General Manager), and Salah Ramadan (Chairman & Managing Director), and is supported by strategic partnerships with AAOIFI, CIBAFI, and CISI — the three principal standard-setting bodies in the global Islamic finance industry. Minhaj claims a 'global footprint' from its Dubai headquarters at MM Towers, Al Maktoum Road, Deira, serving the global Islamic finance industry.

Minhaj Advisory firmographics

Firmographics

Name: Minhaj Advisory
Legal name: Minhaj Advisory
Website: https://minhajadvisory.com
Company type: Private
Founded year: 2010
Operating status: Operating
Headcount range: 101–250 employees
Short description: Minhaj Advisory is a Dubai-based Islamic finance firm providing end-to-end Shari'ah advisory services (Fatwa, compliance certification, audit, product structuring) and AAOIFI/CISI professional training across banking, takaful, capital markets, and Islamic FinTech sectors globally.
Ownership category
akta.pro rank

Minhaj Advisory industry classification

Industry

Product category: Islamic Finance Advisory and Professional Training
NAICS: Professional, Scientific, and Technical Services (541), Portfolio Management and Investment Advice (523940)
SIC: Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)
akta.pro primary industry: Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)
akta.pro secondary industries: Islamic Investment Banking & Capital Markets Services (FSABAGAG), Sukuk Origination & Structuring (Bank-led) (FSABAGAL), Islamic Private Banking & Wealth (FSABAGAD)

Keywords

Shari'ah advisory services
Islamic finance consulting
AAOIFI certifications
Shari'ah compliance audit
Sukuk structuring advisory

Where Minhaj Advisory is headquartered

Location

Headquarters

HQ city: Dubai
HQ country: United Arab Emirates
HQ region: Middle East

Offices1 record

Markets served

Minhaj Advisory business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

Advisory Services: Shari'ah advisory fees for services including product structuring, compliance certification, Fatwa issuance, and governance consulting to Islamic financial institutions
Training and Certification Programs: Revenue from delivering AAOIFI professional certifications (CSAA, CIPA), CISI qualifications, and specialized Islamic finance training programs. Includes exam center fees and training delivery charges.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Minhaj Advisory product offering

Product offering

Core offering

Minhaj Advisory provides end-to-end Shari'ah advisory services for Islamic financial institutions, including Shari'ah compliance certification, Fatwa (pronouncement) issuance, product structuring, Sukuk structuring, audit and governance, Zakat calculation, Shari'ah board formation, Islamic FinTech advisory, and conversion of conventional institutions to Shari'ah compliance. Through its Minhaj Training division, the company delivers internationally accredited AAOIFI certifications (CSAA, CIPA, CPSS, CSE, CPAAGE) and CISI qualifications (FIBF, IFQ, International Introduction to Securities and Investment, ICWIM) via in-person and digital channels.

Product overview

Minhaj Advisory is a pioneering Islamic Finance advisory and training institution headquartered in Dubai, offering a dual offering of Shari'ah advisory services and professional training certifications. The advisory services include end-to-end Shari'ah solutions comprising advisory, compliance certification, fatwa issuance, audit & governance, product structuring, Sukuk structuring, FinTech advisory, and Zakat calculation. The training division, Minhaj Training, provides accredited certifications including AAOIFI programs (CSAA, CIPA, CPSS, CSE), CISI qualifications (FIBF, IFQ, International Introduction to Securities and Investment, ICWIM), and CPAAGE. The company serves government bodies, stock markets, banks, Sukuk & Bonds issuers, investment funds, insurance & Takaful companies, Islamic FinTech firms, and other financial institutions globally.

Differentiator

Problem solved

Functional benefit

Brands

Minhaj Training: Training academy specialized in providing trainings, workshops, and international accredited certifications in Islamic finance industry, covering all its segments in partnership with international bodies.

Products and services

Shari'ah Advisory Solutions End-to-end Shari'ah advisory services including Shari'ah compliance certification, Fatwa issuance, audit and governance, product structuring, and Sukuk structuring for Islamic financial institutions.
Minhaj Training Training academy providing workshops, programs, and internationally accredited certifications in Islamic finance, covering banking, takaful, capital markets, and investment sectors.
Shari'ah Compliance Certification Certification services ensuring financial products and instruments meet all necessary Shari'ah requirements in line with Islamic rules and principles.
Fatwa – Pronouncement Islamic legal rulings and pronouncements issued by the Shari'ah board for various financial products and transactions.
Audit & Governance Shari'ah internal and external audit services with governance frameworks for Islamic financial institutions.
Product Structuring Development and structuring of innovative Shari'ah-compliant products and services according to market requirements.
Zakat Calculation Services Zakat calculation services for local and international institutions through analysis of financial data and annual reports.
Shari'ah Board Formation Formation of Shari'ah boards for financial institutions by connecting them with distinguished Shari'ah scholars with extensive experience.
Islamic FinTech Advisory Shari'ah advisory services for fintech companies to ensure compliance with Islamic principles in their technology-based products and services.
Financial Institution Conversion Consulting services to convert conventional financial institutions to operate according to Shari'ah principles while maintaining their identity and distinguishing features.
Certified Shari'ah Advisor and Auditor (CSAA) AAOIFI professional certification program designed to develop expertise in Shari'ah advisory and auditing within the Islamic finance industry.
Certified Islamic Professional Accountancy (CIPA) AAOIFI professional fellowship qualification covering Islamic professional accountancy across banking, investments, and takaful sectors.
Certificate of Proficiency in Shari'ah Standards (CPSS) Specialized certification focusing on understanding and implementing Shari'ah standards issued by AAOIFI.
Certified Shari'ah Expert (CSE) Specialized Islamic finance certification aligned with AAOIFI standards, combining theoretical knowledge with practical application.
Certificate of Proficiency in Audit, Assurance, Governance & Ethics (CPAAGE) Professional program covering audit, assurance, governance, and ethics with integration of Islamic finance principles.
Fundamentals of Islamic Banking and Finance (FIBF) CISI certification providing introduction to philosophy and principles of Islamic banking and finance, ideal for those starting a specialized career path.
Islamic Finance Qualification (IFQ) CISI globally leading certification covering both technical and Shari'ah aspects of Islamic finance, developed by industry experts.
International Introduction to Securities and Investment CISI qualification covering main financial principles and products including assets, markets, equities, bonds, derivatives, and investment funds.
International Certificate in Wealth Investment Management (ICWIM) CISI qualification covering fundamentals of financial planning, client asset management, fund accounting, and investment analysis from a global perspective.

Quantifiable outcome

DGCX's Spot Gold contract certified as Shari'ah compliant - GCC's first and world's only Shari'ah Compliant Spot Gold contract

Companies that use Minhaj Advisory

Customer profile

Named customers2 records

Segments9 records

Ideal customer profiles4 records

Minhaj Advisory technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Minhaj Advisory partnerships and signals

Strategic signal

Partnerships

Five partnerships are on record, tiered core and notable.

TAIF Digital InstitutecoreStrategic or Co-development Partner · 4 August 2020MOU signed for strategic collaboration in digital learning solutions for Islamic finance. Minhaj Advisory and TAIF Digital Institute will collaborate on promoting and developing outstanding digital learning solutions to facilitate dissemination of knowledge of Islamic finance digitally, undertaking research and capacity building, conducting various digital courses together, and providing Islamic finance digital learning solutions to various Islamic Finance Institutions.
Dubai Gold & Commodities Exchange (DGCX)notableStrategic or Co-development Partner · 9 April 2019Minhaj Advisory issued Shari'ah Pronouncement (Fatwa) for DGCX's Shari'ah Compliant Spot Gold contract (DGSG), determining it meets all necessary Shari'ah requirements. This was the GCC's first and world's only Shari'ah Compliant Spot Gold contract.
AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions)coreStrategic or Co-development Partner · 30 October 2018AAOIFI honored Minhaj Advisory as its first Gold Certified Education Partner in the World. The partnership involves promoting AAOIFI standards through participation in standards development process, delivering high-quality training in CIPA and CSAA programs, being an Exam Center, and supporting AAOIFI in the conduct of Public Hearings. Minhaj Advisory also delivers bilingual (Arabic and English) training.
CIBAFI (General Council For Islamic Banks And Financial Institutions)coreStrategic or Co-development PartnerSpecial Strategic Partnership with CIBAFI for providing services including registration and training for professional programs, and intensive training for those seeking professional certifications offered by CIBAFI.
CISI (Chartered Institute for Securities & Investment)coreStrategic or Co-development PartnerAccredited training partner of CISI, a professional body based in London. Minhaj Advisory provides training on CISI qualifications including Fundamentals of Islamic Banking and Finance (FIBF), Islamic Finance Qualification (IFQ), International Introduction to Securities and Investment, and International Certificate in Wealth Investment Management (ICWIM).

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Minhaj Advisory competitors and assessment

Company assessment

Direct peers

Dar Al Sharia: Dubai-based Islamic finance consultancy (subsidiary of Shariyah Review Bureau and IDB group) offering Shari'ah advisory, Shari'ah audit, product structuring, and training; closest geographic and service-line peer to Minhaj Advisory.
INCEIF University: Malaysia-based Islamic finance university offering professional certifications and degree programs (CIFP, IFQ-equivalents); a more institutionalized peer to Minhaj Training's certification and professional development track.
AlHuda Centre of Islamic Banking and Economics (CIBE): Pakistan-headquartered Islamic finance advisory and training institute offering professional certifications, Shari'ah advisory, and capacity-building programs; directly competes with Minhaj Training on Islamic finance certification and education.
Shari'ah Review Bureau: Bahrain-headquartered Shari'ah advisory and audit firm providing Shari'ah compliance reviews, Fatwa issuance, and governance services to Islamic financial institutions globally; directly comparable to Minhaj's advisory offerings across banks, takaful, and sukuk.

Others

AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Bahrain-based international standards-setting body for Islamic finance; Minhaj's primary partner but also a stakeholder that conducts training and exam activities that can overlap with Minhaj's own offerings.
CIBAFI (General Council for Islamic Banks and Financial Institutions): Bahrain-based industry body for Islamic banks offering its own professional certification and training programs; Minhaj is a strategic partner but also a related ecosystem provider competing for the same training wallet.

Emerging players

ISRA (International Shari'ah Research Academy for Islamic Finance): Malaysia-based Shari'ah research and advisory body affiliated with Bank Negara Malaysia, producing Shari'ah rulings and research; competes with Minhaj on thought leadership and standards-setting influence.
Bahrain Institute of Banking and Finance (BIBF): Bahrain-based training institute offering Islamic finance professional certifications and executive programs; overlaps with Minhaj Training's certification cohort business in the GCC.

Regional players

Shura Shari'ah Advisory: Malaysia-based Shari'ah advisory firm providing Shari'ah review, governance, and product structuring to Islamic banks, takaful, and asset managers in Southeast Asia; comparable in service mix but operates primarily in a different geography.

Broad incumbents

Deloitte Islamic Finance practice: Global Big Four advisory practice with a dedicated Islamic finance team offering Shari'ah advisory, audit, and tax structuring; competes for large institutional mandates where Minhaj also bids as specialist advisor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Minhaj Advisory compliance and trust

Trust signal

Compliance5 records

Minhaj Advisory financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Minhaj Advisory leadership team

Management profile

Number of profiles

Profiles4 records

Minhaj Advisory funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Minhaj Advisory M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Minhaj Advisory

What does Minhaj Advisory do?

Is Minhaj Advisory a public or private company?

Minhaj Advisory is a private company. It is classified as unknown and is currently operating.

When was Minhaj Advisory founded?

Minhaj Advisory was founded in 2010. It employs 101 to 250 people.

Where is Minhaj Advisory based?

Minhaj Advisory is headquartered in Dubai, United Arab Emirates, in the Middle East region.

How does Minhaj Advisory make money?

Two revenue lines are on record. Advisory Services are the primary driver. The others are training and Certification Programs.

Who are Minhaj Advisory's main competitors?

Direct peers on record are Dar Al Sharia, INCEIF University, AlHuda Centre of Islamic Banking and Economics (CIBE) and Shari'ah Review Bureau. Others are AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) and CIBAFI (General Council for Islamic Banks and Financial Institutions). Emerging players are ISRA (International Shari'ah Research Academy for Islamic Finance) and Bahrain Institute of Banking and Finance (BIBF). Shura Shari'ah Advisory is listed as a regional player. Deloitte Islamic Finance practice is listed as a broad incumbent.

Does Minhaj Advisory have an API?

No public API is recorded for Minhaj Advisory.

What industry is Minhaj Advisory in?

Minhaj Advisory's product category is Islamic Finance Advisory and Professional Training. Its primary akta.pro industry code is FSABAGAJ, Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa), with a secondary code of FSABAGAG, Islamic Investment Banking & Capital Markets Services. Its NAICS code is 541 and its SIC code is 6282.