About Aqila Finance
Ethical Finance. The term seems like an oxymoron. Financial markets have a reputation of being purely profit driven, whereby society itself is dictated by an invisible hand with a sole goal of satisfying shareholders. A unempathetic machine that only cares for gains and rewards, with little consideration for the cost.
Despite the rather bleak and dreary description above, ethical finance does exist. Initiatives and products that drives social utility, breeds positive socio, economic and environmental change but in a way where our moralities don’t feel constantly at war with our desire to grow.
One avenue for this is Islamic Finance. A prescribed framework that emphasises sustainable real asset generation, avoids transactions that are simply zero-sum games and champions a more fair and equitable distribution of wealth.
If this interests you either from a perspective of faith, whereby you don’t want to compromise on your beliefs, just to seek wealth generation, or from a perspective of desiring a more ethically driven financial system, Aqila Finance aims to help.
Here I detail what Islamic Finance is, what sort of instruments and products are used and are actually available in current markets and how to navigate all of this.
Currently it feels as though that the resources out there are either marketing material which paints products as ground-breaking and systemically problem solving, but glosses over the trade-offs. Or there’s academic and scholarly material, which is rigorous but written for other scholars rather than ordinary investors just trying to make a decision about their mortgage or pension.
There’s a gap in the middle: clear, transparent, simplified but properly-researched analysis for people who want to make informed financial decisions in line with their values. Aqila Finance is here to fill it.
Who am I?
I am a Chartered Accountant who is also CISI-qualified in Islamic Finance, working in the UK financial services industry, but with a deep passion for the ethically driven alternative. I think this combination matters. It means I approach these topics with the same analytical rigour I apply in my career whilst also understanding the commercial aspects and principles behind Sharia-compliant alternatives.
I’ve spent a number of years navigating the gap between conventional finance and ethical alternatives. I’ve done the research, made the comparisons, and dealt with providers and bought into their products myself. What you read here, hopefully reflects that experience.
What is covered?
Islamic finance product offerings - what different products are currently available, how they work both in theory and in practice, which providers to choose, how to access these.
Ethical and Sharia-compliant investing. What Shariah compliant funds and ETFs are currently available and what they entail.
Ethical and values-based investing more broadly. The substantial overlap between Islamic finance principles and broader ethical investing, for readers who care about where their money goes regardless of religious framing.
Industry analysis. New product launches, regulatory developments, scholarly debates that affect consumer products, and honest assessment of where the Islamic finance industry is genuinely innovating versus where it’s selling repackaged conventional products at a premium.
What I don’t do
I don’t provide personalised financial advice. Everything here is educational and informational for advice on your specific circumstances please refer to a FCA-authorised adviser.
I don’t issue Sharia rulings. Questions about whether a specific product is permissible are matters for qualified scholars. I can explain how products are structured and what scholars have generally said about them, but the ruling itself isn’t mine to give.
I don’t recommend products without explaining the trade-offs. Every Islamic finance product involves compromises between cost, convenience, Sharia-compliance interpretation, and product features. I will always show you what you’re trading off, not just what’s appealing about a product.
My perspective
I approach Islamic finance practically. The industry has genuine strengths and genuine problems. There are products that are technically Sharia-compliant but commercially poor. There are providers that hide fees behind religious framing. There’s scholarly disagreement that consumers rarely see. There’s also real innovation, real value, and real reasons to choose Sharia-compliant products beyond religious obligation.
Your money deserves analysis as serious as the principles it’s meant to honour. That’s what I aim to provide.
What you’ll get
Articles published regularly, covering both timeless explainers and timely analysis. A newsletter delivered to your inbox so you don’t have to remember to check the site. Honest answers to questions the providers and most existing content won’t answer clearly.
Free subscribers get all regular content. Paid subscribers will eventually get access to deeper analysis, original research, and potential tools I develop along the way — but for now, everything is free while I build.
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Disclaimer
Aqila Finance is an educational publication and does not provide regulated financial advice. The information here is for general informational purposes only and should not be relied upon for individual financial decisions. For advice tailored to your circumstances, please consult an FCA-authorised financial adviser. Aqila Finance is not authorised or regulated by the Financial Conduct Authority.
