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Non-Permissible Income (NPI) 

Shari’ah principles dictate that the Company may not invest in companies that conduct their core business in Shari’ah prohibited activities. These activities may include conducting business in relation to alcohol, entertainment (pornography, gambling, etc.), pork-related products and companies whose major source of income is generated by interest. Companies that operate with a high level of debt or are associated with interest-bearing securities and high levels of accounts receivable or gearing may also be excluded from the Company’s investment universe. 


Income accrued to the Company from sources as discussed above is termed “Non-Permissible Income (NPI)”. 


Although the Company will continue to endeavor to avoid investments that will produce NPI, it remains an inevitable part of investing in conventional markets. Such NPI will be stripped out of the income paid by the Company before such income is distributed to Shareholders. NPI is paid to registered charitable organisations, as decided by the Directors and distributed to charitable causes.  


The investor, who is a signatory to the applicable agreement with Oasis, agrees, by appending a signature to the relevant form, and confirms that the investor clearly understands that the NPI  shall be dealt with as above. 


By investing in a Shari’ah Compliant Product within the Oasis Crescent range of products, the investor agrees that such NPI does not belong to the investor, such NPI has not accrued to the investor, such NPI shall not be received by the investor, and the investor shall never have a claim for this amount.  


The Shari'ah-compliant investment products that are offered by Oasis are managed within the framework of Islamic investment that is derived from Shari’ah law. All of the Products in the Oasis Crescent range have been structured in this ethical manner to ensure that full compliance is achieved. 


The Oasis Crescent range is managed in accordance with the investment guidelines that have been established by leading Global Islamic Institutions. This stipulates the exclusion of securities whose primary business activities are non-permissible according to Shari’ah law from the investment portfolios of the Oasis Crescent range of products. 


Independent Shari’ah Advisory Board  


An independent advisory board has been appointed to advise Oasis on Shari’ah investment and ethical issues. The Shari’ah advisory board consists of the world’s leading scholars in Islamic Contractual Jurisprudence (Fiqh-al-Mu’amalat). In addition, this board is responsible for conducting an independent analysis of the Oasis Crescent range holdings and investment income to ensure that it is aligned with Shari’ah investment guidelines. 



Islamic Institutional Membership 


As a global leader in the supply of Shari'ah-compliant investment products, the Oasis Group is a member of, and adheres to, the prescribed guidelines of the following reputable Islamic Institutions: 


• Accounting and Auditing Organisation for Islamic Institutions (AAOIFI) 

• International Association for Islamic Economics (IAIE) 

• Islamic Financial Services Board (IFSB) 

• General Council for Islamic Banks and Financial Institutions (GCIBFI) 

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