Adl Advisory
Adl Advisory is a Malaysia-based Shariah advisory firm providing consultancy, audit, Shariah Board governance, and AAOIFI-certified training services to Islamic banks, fintech startups, investment funds, and regulators across global markets.
- Company typePrivate
- Founded2023
- HeadquartersKuala Lumpur, Malaysia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Adl Advisory does
Adl Advisory Sdn. Bhd. is a Malaysia-based professional services firm specializing in Shariah advisory, audit, and training for the Islamic finance industry. Its four core service lines are Shariah Advisory and Consultancy (product structuring, end-to-end review, and product certification), Shariah Audit (financial statement, transactional, and internal control reviews), Shariah Board Services (governance, compliance reporting, risk management, and retainer-based oversight), and AAOIFI-certified Training and Workshop programs. The firm serves financial institutions, Islamic fintech startups, investment funds, regulatory bodies, and Islamic finance professionals, with named clients and partners including Dubai Islamic Bank, ISDB, UNDP, FivePearls Funds Management, Al-Mabrook (asset tokenization), Ethis, Hasan VC, and IIUM.
The company is led by Founder & CEO Dr. (Mufti) Yousuf Sultan, a scholar with a Takhassus in Ifta and Fatwa and active Shariah committee service at international banks and Takaful operators. Adl Advisory operates as a 14-person team headquartered in Kuala Lumpur, holding Registered Shariah Adviser and Registered Training Provider status, and is designated as an AAOIFI Exam Center and Training Partner for the Certificate of Proficiency in Shariah Standards (CPSS). The team also maintains academic roles at Universiti Sains Islam Malaysia and the Centre for Islamic Economics Studies in Bangladesh, and collaborates with related-entity IFA Consultancy in Bangladesh, forming a cross-border service network.
The business model is fee-based professional services: bespoke advisory mandates, audit engagements, recurring Shariah Board retainers, and training/course enrollment. Go-to-market combines enterprise field sales (direct scholar engagement), content marketing (Adl Insights blog, newsletter), event-driven demand generation (Islamic Finance Industry Talk Series, iFintour, webinars, halaqah sessions), and an academic channel via university lecturing. The company claims 100+ clients across 50+ geographies spanning North America, Africa, Central Asia, the Middle East, and Asia-Pacific, and runs sub-brands I-FIN Tour (Islamic finance educational tourism) and SAFE-i (Shariah-compliant startup financing instrument). Pricing is not publicly disclosed and is quote-based on engagement terms.
Adl Advisory firmographics
Firmographics- Name
- Adl Advisory
- Legal name
- Adl Advisory Sdn. Bhd.
- Website
- https://adladvisory.co
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Adl Advisory is a Malaysia-based Shariah advisory firm providing consultancy, audit, Shariah Board governance, and AAOIFI-certified training services to Islamic banks, fintech startups, investment funds, and regulators across global markets.
- Ownership category
- akta.pro rank
Adl Advisory industry classification
Industry- Product category
- Islamic Finance Advisory
- NAICS
- Offices of Certified Public Accountants (541211)
- SIC
- Services-Management Services (8741), Investment Advice (6282)
- akta.pro primary industry
- Enterprise Risk Management (ERM) Advisory (BPAHAFAA)
- akta.pro secondary industry
- Islamic Investment Banking & Capital Markets Services (FSABAGAG)
Keywords
Where Adl Advisory is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Adl Advisory business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Shariah Advisory and Consultancy Services: Provides Shariah-compliant consultancy including product structuring, end-to-end review, and product certification. Revenue generated through professional consulting fees for advisory mandates.
- Shariah Audit Services: Offers Shariah audit services including financial statement audits, transactional audits, and internal control reviews. Billed as professional audit engagements.
- Training and Workshop Programs: Provides AAOIFI-certified training and customized workshops including iFin Tour immersive experiences and Edutourism programs. Revenue from course enrollments and training program fees.
- Shariah Board Services: Provides governance, compliance reporting, risk management guidance, and client consultations through Shariah Board retainer arrangements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom engagement-based pricing for Shariah advisory and consultancy services |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Adl Advisory product offering
Product offeringCore offering
Adl Advisory is a global Shariah advisory firm that delivers Shariah advisory and consultancy, Shariah audit and review, Shariah governance board services, professional training and certification (including AAOIFI-aligned programmes), and Zakat consultation to Islamic financial institutions, takaful operators, fintechs, and Shariah-compliant corporates. The firm also provides public-facing tools such as a Zakat Calculator and a Verify Certificate portal to support its advisory and certification offerings.
Product overview
Adl Advisory is a Malaysia-based global Shariah advisory company offering a suite of professional services for Shariah compliance in Islamic finance. The core offerings include Shariah Advisory and Consultancy (product structuring, review, and certification), Shariah Audit services (financial and transactional audits), and Shariah Board Services (governance and compliance oversight). Supporting these are Training and Workshop programs including AAOIFI-certified courses and the I-FIN TOUR educational platform. The company also provides specialized tools including a Zakat Calculator and certificate verification system. All services are delivered by a team of seasoned Shariah scholars and practitioners.
Differentiator
Problem solved
Functional benefit
Brands
- I-FIN Tour: Islamic Finance Learning Hub - educational tourism program for gaining expertise in Shariah-compliant financial systems
- SAFE-i
Products and services
- Shariah Advisory and Consultancy Shariah advisory and consultancy service providing product Shariah rulings, structuring guidance, and ongoing consultation for Islamic financial institutions, takaful operators, and Shariah-compliant businesses.
- Shariah Audit and Review Independent Shariah audit and review of Islamic financial products, processes, and operations against applicable Shariah standards, intended for Islamic banks, takaful operators, and Shariah-compliant corporates.
- Shariah Board Services Provision of qualified Shariah scholars from Adl Advisory's roster to serve on clients' internal or external Shariah Supervisory Boards, supporting Shariah governance and product approval functions.
- Training and Workshop / I-FIN TOUR Structured training programmes, workshops, and certification courses (including the I-FIN TOUR and AAOIFI-aligned certification track) for Islamic finance professionals at Islamic banks, takaful operators, and other Shariah-compliant institutions.
- Zakat Consultation Scholar-led Zakat advisory service for individual Muslims and institutions on calculation, eligibility, distribution, and Shariah-compliant fulfilment of Zakat obligations.
Quantifiable outcome
- 100+ clients worldwide served
- +1 more outcomes
Companies that use Adl Advisory
Customer profileNamed customers8 records
Segments6 records
Ideal customer profiles2 records
Adl Advisory technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Adl Advisory partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core, major and minor.
- AAOIFIcoreOfficial Exam Center and Training Partner for AAOIFI's Certificate of Proficiency in Shariah Standards (CPSS) programs. Collaborates on capacity-building training sessions in both English and Arabic, and Training for Trainers initiatives.
- IIUM (International Islamic University Malaysia)majorCo-organizes Islamic Finance Industry Talk Series events. Collaboration involves IIUM Institute of Islamic Banking and Finance (IIiBF) and IIiBF Students' Society with Adl Advisory.
- TAIF Digital InstitutemajorCollaboration on AAOIFI CPSS training sessions and virtual training programs. TAIF provides platform for online course delivery including AAOIFI Shariah Certifications Preparatory Course.
- INCEIFminorListed as client and partner in company profile section. INCEIF is the International Centre for Education in Islamic Finance based in Malaysia.
- IFA Consultancy (Bangladesh)coreRelated entity under the same leadership providing Shariah advisory services in Bangladesh. Together with Adl Advisory Malaysia, forms a global service network spanning multiple geographies.
- Centre for Islamic Economics Studies (CIES)majorManaged by Dr. Mufti Yousuf Sultan in Bangladesh, CIES runs a specialized two-year Takhassus program in Ifta and Fatwa, contributing to Islamic finance education and scholar development.
- Shariah Review BureauminorListed as client and partner in company profile section.
- EthismajorIslamic fintech collaboration. Adl Advisory team conducted Shariah training sessions on Mudharabah and Musharakah contracts during Jakarta office visits. Ethis develops Islamic crowdfunding platforms requiring Shariah certification.
- Dubai Islamic BankminorListed as client and partner in company profile section.
- WingbankminorListed as client and partner in company profile section.
- Hasan VCminorListed as client and partner in company profile section.
- UNDPminorListed as client and partner in company profile section.
- ISDB (Islamic Development Bank)minorListed as client and partner in company profile section.
- Centre for Ethical Research and Thoughts (CERT)majorSubmitted comprehensive policy recommendations to Bangladesh government covering Islamic Economics and Finance, Islamic Banking and Takaful, Shariah Governance, Waqf administration, and Zakat management.
- Universiti Sains Islam Malaysia (USIM)majorDr. Mufti Yousuf Sultan serves as visiting lecturer contributing to research initiatives and classroom sharing, helping shape next generation of Islamic finance professionals.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Adl Advisory competitors and assessment
Company assessmentDirect peers
- IFAAS (International Financial Advisory and Shariah Auditing Services): Saudi Arabia-based firm specializing in Shariah audit and financial advisory for Islamic financial institutions. Closely comparable to Adl Advisory's Shariah audit and consultancy service lines targeting banks, Takaful companies, and investment funds.
- Shariyah Review Bureau: Dubai-based Shariah advisory, audit, and review firm serving banks, Takaful operators, and asset managers globally. Directly comparable to Adl Advisory in scope of Shariah governance, product certification, and audit services, and is also listed as a partner relationship in Adl Advisory's own materials.
- Amanie Advisors: Malaysia-based Shariah advisory and consulting firm serving Islamic financial institutions globally. Direct regional competitor to Adl Advisory with overlapping service lines including Shariah governance, product structuring, and training.
- Dar Al Sharia: UAE-headquartered Islamic finance consultancy offering Shariah advisory, audit, and product structuring services to financial institutions. Competes with Adl Advisory for institutional Shariah board mandates and product certification work across the Gulf and wider Islamic markets.
- AlHuda Centre of Islamic Banking and Economics: Pakistan-based Islamic finance advisory, training, and consultancy firm offering Shariah advisory, product development, and capacity-building programs. Comparable to Adl Advisory's training and advisory offerings across emerging Islamic finance markets.
Broad incumbents
- Al Tamimi & Co: Leading Middle East-based law firm with a dedicated Islamic finance practice advising on Shariah structuring, Sukuk, and regulatory matters. Comparable to Adl Advisory on the legal and structuring side of Islamic finance engagements, though delivered from within a broader full-service legal platform.
- Gatehouse Bank: UK-based Shariah-compliant bank offering property finance, savings, and investment products, and operating an in-house Shariah supervisory function. While primarily a principal rather than a pure advisor, it competes for the same pool of qualified Shariah scholars and engages in similar governance and product structuring activity.
- BDO Islamic Finance Practice: Global accounting and advisory network with Islamic finance expertise spanning audit, tax, and Shariah compliance services. Overlaps with Adl Advisory's Shariah audit and advisory offerings but is delivered as part of a much wider service catalogue.
- KPMG Islamic Finance Practice: Global Big Four firm with a dedicated Islamic finance practice offering Shariah advisory, audit, and assurance services. Competes with Adl Advisory for institutional audit and advisory mandates as part of a broader professional services portfolio.
Emerging players
- Ideal Ratings: US/UK-headquartered provider of Shariah compliance, ESG, and screening technology solutions for Islamic investment funds. Adjacent to Adl Advisory's Shariah advisory work, with a more technology-driven delivery model that could either complement or compete with traditional advisory services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Adl Advisory social profiles
Digital presenceAdl Advisory financial estimates
Financial estimateRevenue estimate
Valuation estimate
Adl Advisory leadership team
Management profileNumber of profiles
Profiles1 record
Adl Advisory funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Adl Advisory M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Adl Advisory
What does Adl Advisory do?
Adl Advisory is a global Shariah advisory firm that delivers Shariah advisory and consultancy, Shariah audit and review, Shariah governance board services, professional training and certification (including AAOIFI-aligned programmes), and Zakat consultation to Islamic financial institutions, takaful operators, fintechs, and Shariah-compliant corporates. The firm also provides public-facing tools such as a Zakat Calculator and a Verify Certificate portal to support its advisory and certification offerings.
Is Adl Advisory a public or private company?
Adl Advisory is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Adl Advisory founded?
Adl Advisory was founded in 2023. It employs 11 to 50 people.
Where is Adl Advisory based?
Adl Advisory is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Adl Advisory make money?
Four revenue lines are on record. Shariah Advisory and Consultancy Services are the primary driver. The others are shariah Audit Services, training and Workshop Programs and shariah Board Services.
Who are Adl Advisory's main competitors?
Direct peers on record are IFAAS (International Financial Advisory and Shariah Auditing Services), Shariyah Review Bureau, Amanie Advisors, Dar Al Sharia and AlHuda Centre of Islamic Banking and Economics. Broad incumbents are Al Tamimi & Co, Gatehouse Bank, BDO Islamic Finance Practice and KPMG Islamic Finance Practice. Ideal Ratings is listed as an emerging player.
Does Adl Advisory have an API?
No public API is recorded for Adl Advisory.
What industry is Adl Advisory in?
Adl Advisory's product category is Islamic Finance Advisory. Its primary akta.pro industry code is BPAHAFAA, Enterprise Risk Management (ERM) Advisory, with a secondary code of FSABAGAG, Islamic Investment Banking & Capital Markets Services. Its NAICS code is 541211 and its SIC code is 8741.