Ehsan Shariah Advisors And Consultants (ESAAC)

What Ehsan Shariah Advisors And Consultants (ESAAC) does

Ehsan Shariah Advisors and Consultants (ESAAC) is a Karachi-headquartered professional services firm founded in 2010 that delivers niche Shariah management and financial advisory services to Islamic financial institutions, Takaful operators, asset management companies, and High-Net-Worth Individuals across Pakistan, the Middle East, and Asia. The firm’s core offerings span Sukuk structuring and certification, Shariah audit, Takaful lifecycle services, Islamic capital market and stock screening, Zakat consulting, Shariah conversion and compliance advisory for conventional institutions, HNI wealth management, training programs, and a proprietary educational reintegration product (ESAAC Huffaz Pathway Model™). Underlying capabilities are anchored by a bench of international Shariah scholars (including Dr. Daud Bakr, Dr. Azhan Hasan, Dr. Mohammad Sulaiman Al-Jewisser) and former regulators from SBP, SECP, Bank Negara Malaysia, and AAOIFI committees, supported by management consultants with dual Shariah and conventional finance credentials. The firm is expanding into fintech and cryptocurrency advisory covering tokenized investments, blockchain instruments, smart contracts, and AI-driven compliance solutions, and has formed the ESAAC-NHS Islamic Finance Legal Consultants joint venture with NHS Law and an MoU with IFA Consultancy (IFAC) in Bangladesh. ESAAC generates revenue through project-based consulting fees, training programs, and multi-year advisory engagements; pricing is not publicly disclosed and is structured per engagement scope. Distribution is sales-led and direct, supported by industry summit participation, multilingual website presence, and YouTube/LinkedIn thought leadership.

Name

Ehsan Shariah Advisors And Consultants (ESAAC)

Legal name

Ehsan Shariah Advisors and Consultants (ESAAC)

Website

https://esaac.co

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Karachi-based Shariah advisory and consulting firm founded in 2010 serving Islamic banks, Takaful operators, asset managers, and HNIs across Pakistan, the Middle East, and Asia with Sukuk structuring, Shariah audit, conversion, training, and emerging fintech advisory services.

Ownership category

akta.pro rank

Product category

Islamic Finance Advisory

NAICS

Portfolio Management and Investment Advice (523940), Finance and Insurance (52)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

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

akta.pro secondary industries

Sukuk Origination & Structuring (Bank-led) (FSABAGAL), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Shariah advisory services
• Islamic finance consulting
• Sukuk structuring advisory
• Takaful business consulting
• Islamic banking conversion

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Professional Services - Shariah Advisory & Consulting: ESAAC provides niche Shariah management and financial advisory services, including Sukuk structuring, Shariah audit, Takaful business consulting, Islamic capital market services, and Zakat consulting. Revenue is generated through project-based consulting engagements with financial institutions, corporations, and High-Net-Worth Individuals.
2. Training & Development Programs: ESAAC designs and delivers customized training programs for organizations, from operational staff to senior management and Board of Directors, on Islamic finance concepts, governance requirements, and strategic incorporation of Shariah compliance.
3. Shariah Conversion Services: End-to-end solutions for conversion of conventional financial institutions into fully Shariah-compliant entities, including regulatory applications, implementation of Shariah-compliant systems, processes, and governance structures.
4. Wealth Management Advisory for HNIs: Personalized Shariah-compliant wealth management services for High-Net-Worth Individuals including ethical investment structuring, Shariah-based succession planning, Zakat and inheritance advisory, and exclusive investment opportunities.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

ESAAC designs, structures, and implements Shariah-compliant financial structures for institutions and individuals, providing niche Shariah management and financial advisory services. Its offerings cover Full-Fledged Islamic Banks, Islamic Microfinance Institutions, Islamic Banking Windows, Takaful and Re-Takaful Operators, Islamic Mutual Funds, Islamic Asset Management Companies, and High-Net-Worth Individuals. Services span Sukuk structuring and certification, Shariah audit, Takaful lifecycle consulting, Shariah conversion of conventional institutions, Islamic capital market and stock screening, Zakat consulting, wealth management, and fintech/cryptocurrency advisory.

Product overview

ESAAC offers a comprehensive portfolio of Shariah advisory and consulting services for Islamic financial institutions. The core offerings include: Sukuk Structuring, Advisory & Certification for Islamic capital market instruments; Specialized Services for High Net-Worth Individuals (HNIs) for wealth management; the proprietary ESAAC Huffaz Pathway Model™ as a signature educational reintegration offering; Fintech & Cryptocurrency advisory services; Education Consulting; Research & Development; Shariah Audit services; Takaful Business lifecycle services; Islamic Capital Market & Stock Screen Services; Zakat Consulting; Shariah Conversion & Compliance Advisory for converting conventional institutions; and turnkey solutions for Establishing Islamic Banking Institutions. The company functions as a consulting advisory firm rather than a software platform, providing human expertise-based services across the Islamic finance ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Sukuk Structuring, Advisory & Certification

Quantifiable outcome

• Sukuk market exceeding USD 1 trillion globally
• +1 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and strategic.

• IFA Consultancy (IFAC)coreStrategic or Co-development Partner · 1 January 2025Strategic collaboration marked by MoU signing at Bangladesh Islamic Finance Summit 2025. Partnership aims to support institutional development, enhance Shariah governance practices, and jointly develop capacity-building initiatives for the Islamic finance ecosystem.
• NHS Law (Nawaz Sharif & Partners)coreImplementation/ SI/ Consulting PartnerLegal partnership forming ESAAC-NHS Islamic Finance Legal Consultants, providing Shariah-compliant legal and corporate services from inception to implementation. The firm handles disputes, corporate and commercial matters, serving clients in banking, real estate, construction, IT, and energy sectors.
• Mohsin Tayebaly & CompanycoreImplementation/ SI/ Consulting PartnerLegal firm with extensive experience in Islamic/ Shariah-compliant financial transactions including Ijara, Istisna, Murabaha, Musharakah, and Sukuk structuring.
• Pak Brunei Investment Company Limited (PBICL)coreOthersEngaged by PBICL to support the conversion of their operations and Shariah advisory services. ESAAC is guiding PBICL through a comprehensive conversion process ensuring strategic alignment, operational readiness, and adherence to Shariah principles.
• World Bank-IFCstrategicStrategic or Co-development PartnerMufti Ehsan Waquar worked on World Bank-IFC project related to development and improvement of Islamic Re-mortgage Finance.
• Securities and Exchange Commission of Pakistan (SECP)strategicOthersESAAC team members worked with SECP team on Takaful Rules 2012 and ESAAC is registered with SECP.
• State Bank of Pakistan (SBP)strategicOthersMufti Ehsan Waquar served as SBP SAF member and worked on developing Shariah standards for housing finance, Tawarruq, commodity Murabaha, Treasury, Trade Finance, and Agricultural Financing products.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dar Al Sharia: UAE-headquartered Shariah advisory firm providing Shariah audit, product certification, training and conversion services. Operates in the same niche as ESAAC with similar Shariah-board-led service delivery and Gulf/multi-jurisdiction footprint.
• Yasaar Ltd: Shariah advisory and training firm with deep roots in the UAE/Pakistan ecosystem (and a prior employer of ESAAC's founder). Closely comparable service portfolio including Sukuk, training and product advisory.
• Shariyah Review Bureau (SRB): Dubai-based global Shariah advisory, audit and certification firm serving Islamic banks, Takaful operators and corporates. Directly comparable to ESAAC as a Shariah governance, audit and product structuring boutique targeting cross-border Islamic finance clients.
• Minhaj Advisory: UAE-based Shariah advisory firm offering Shariah review, audit, product structuring and Fatwa services. Directly comparable to ESAAC's service lines and regional Gulf client base.
• Shariya Inc. Global Shariah advisory and audit firm offering Shariah certification, screening and consulting for Islamic financial institutions and corporates. Overlaps ESAAC's Sukuk, mutual fund and Shariah audit service lines.

Broad incumbents

• AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Bahrain-based standard-setter for Shariah and accounting standards across Islamic finance. While not a direct competitor, AAOIFI sets the frameworks ESAAC's Shariah audit and certification services must align to, making it the dominant incumbent shaping the addressable market.
• KPMG Islamic Finance Practice: Big Four firm with a global Islamic finance advisory practice covering Shariah audit, Sukuk structuring and conversion. Represents the large incumbent alternative that ESAAC competes against for high-value institutional mandates.

Emerging players

• International Shariah Research Academy for Islamic Finance (ISRA): Malaysia-based Islamic finance research and advisory institute. Comparable on the R&D and thought-leadership axis, with one ESAAC consultant serving as a Research Scholar there since 2013.
• Gatehouse Financial Group: Boutique Islamic finance advisory and executive search firm. Comparable to ESAAC in offering Shariah advisory and talent solutions, though smaller and more focused on recruitment and executive placement.
• IFA Consultancy (IFAC): Bangladesh-based Islamic finance consultancy that signed an MoU with ESAAC at the Bangladesh Islamic Finance Summit 2025. Closely comparable on capacity-building and Shariah governance advisory in South Asia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ESAAC_Pvt_Ltd
• YouTubeyoutube.com/@ehsanwaquar
• Facebookfacebook.com/esaac.com.pk
• LinkedInlinkedin.com/company/esaac

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

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 Ehsan Shariah Advisors And Consultants (ESAAC)