Advisory  
  Stock Screening  
  Product Structuring  
  Calculation of Purging  
  Supervision  
  Other Services  
 
   
       
       
       
       
       
       
 
   
 
They ask thee concerning wine and gambling. Say: "In them is
   
 
great sin, and some profit, for men; but the sin is greater than
   
 
the profit." They ask thee how much they are to spend; Say:
   
 
"What is beyond your needs." Thus doth Allah Make clear to
   
 
you His Signs: In order that ye may consider- (2:219)
    
       
 

 
TAQWAA ADVISORY AND SHARIAH INVESTMENT SOLUTIONS (P) LTD. (TASIS) was founded by a group of finance and investment professionals who realized the need for a credible organization for providing guidance and support to individuals and corporates having an interest in the nascent but highly potential Islamic finance industry in India. As the name suggests, it is an organization providing Shariah advisory and investment solutions in India, while operating within the Indian legal framework.

  
Islamic Finance is a trillion dollar plus industry today and is emerging as one of the fastest growing areas of international finance. Currently Islamic banking and finance practices have a presence in over 75 countries of the world; these include many secular countries of Europe, North America and South East Asia. Government of India too is seriously contemplating various options for allowing Islamic Finance in the country. This is borne out from the following steps that the government has taken in this connection in the recent past.

Action Year

Action Year Establishment of Anand Sinha Committee under the Reserve Bank of India for studying Islamic Financial Products.

         2005
Raghuram Ramrajan Committee recommends Islamic banking for financial inclusion of Muslim community in India.
        2008
Government of India calls for bid in connection with reconstruction of National MinorityDevelopment Finance Corporation (NMDFC) on Shariah lines.
         2008
SEBI permits India’s first Shariah tolerant Mutual Fund, advised by TASIS. 2009 SEBI permitsIndia’s first Shariah tolerant Venture Capital Fund. 2009
         2009
SEBI permits India’s first Shariah tolerant Venture Capital Fund.
        2009
GIC (Re), a government of India owned company, appoints TASIS for shariah advisory
        2009
Government of the state of Kerala appoints a consulting firm to seek advice on starting an Islamic NBFC
         2009

The above actions indicate the cautious but systematic approach Indian policy makers are adopting in allowing Islamic financial products and services in the country.
India Inc having sensed the momentum building up in favour of Islamic Finance, has started looking for strategic vantage positions to exploit the niche opportunity. Many private sector players have come up with Shariah tolerant products abroad. A few of them have launched products and services in India as well.
A leading private sector player has created an entire vertical for distributing Shariah tolerant products. Some financial institutions such as HSBC, Benchmark, TATAS, Taurus, UTI, Kotak, Reliance, Bajaj Allianz all have some kind of Shariah tolerant products already available with them or in the works.
 
User Name:
  
Password:
  
 
 
             All rigts reserved @ TASIS