Embrace Integrity: Leading the Way in Islamic Finance Compliance

About us
The Shariah Advisory Services is a division of MJC Halaal Trust . It provides expert guidance and oversight to ensure that all business and financial activities comply with the principles of Shariah. Our mission is to uphold ethical integrity and religious compliance in all operations — particularly within the Islamic finance sector, where adherence to moral and faith-based values is essential.Rooted in deep expertise in Shariah law, we are committed to ensuring that every product, service, and transaction aligns with the highest ethical standards. Through our work, we aim to foster trust, transparency, and prosperity within the community.Our advisory team comprises a diverse group of professionals with extensive experience across Shariah, management, and finance. Members are carefully selected based on their scholarly credentials, expertise, and reputation for integrity.The team typically includes:
  • Shariah Scholars with profound knowledge of Islamic jurisprudence and its application to contemporary financial practices.
  • Islamic Finance Experts who understand the practical implementation of Shariah principles in modern financial systems and products.
  • Business and Industry Professionals with proven experience in project development, corporate strategy, and organizational growth.
Together, we combine scholarly insight with practical expertise — ensuring that our clients receive comprehensive, compliant, and forward-thinking Shariah advisory solutions.

Compliance

Ensuring your business operations adhere to industry regulations and standards with our comprehensive Compliance service.

Product Development

We provide consulting and development services to help businesses create and market Islamic products for the global market. Product development requires collaboration among Shariah scholars, financial experts, legal advisors, and market specialists. By adhering to Shariah principles and addressing market needs, Institutions can develop innovative products that cater to the growing demand for ethical and Shariah-compliant financial solutions.

Training

Our Islamic Finance Training & Development service provides comprehensive courses and workshops designed to educate professionals and individuals about principles and practices of Islamic finance.

Research and Analysis

Conducting research and analysis on contemporary financial issues and their compliance with Shariah principles. This helps in adapting traditional Islamic jurisprudence to modern financial practices and innovations

Fatwa Issuance

Issuing Shariah-compliance opinions (fatwas) on specific financial products or transactions. These fatwas confirm that the product or transaction meets the requirements of Islamic law and are often sought by financial institutions and businesses to ensure their operations are Shariah-compliant.


Sh Muhammad Ariefdien

Chief Executive Officer

Sh. Muhammad Ariefdien is a respected Shariah advisor, Islamic finance specialist, and business leader with a passion for bridging the principles of Shariah with the realities of modern commerce. His career has been dedicated to helping individuals, businesses, and financial institutions uphold ethical standards while achieving sustainable growth. His academic journey reflects his commitment to excellence. He holds a BA Honours in Shariah from the Islamic University of Madinah, and an MBA from the Nelson Mandela Business School. He has also completed professional qualifications in Financial Advisory (RE Licence) and a Retail Banking certification from the United Kingdom, equipping him with a unique combination of scholarly knowledge and industry expertise. Before leading MJC Shariah Advisory Services, Sh. Muhammad held senior leadership positions with two of South Africa's leading banking institutions, serving as Regional Head of Islamic Banking. During this time, he played a key role in developing and implementing Shariah-compliant financial solutions while advancing the growth of Islamic finance across the region. Beyond the corporate sector, Sh. Muhammad is deeply committed to education and community development. He is the Founding Principal of Alfurqan Institute for Adult Learning, with campuses in Cape Town and Gqeberha (Port Elizabeth), where he has helped hundreds of adults deepen their understanding of Islam and contemporary issues. A firm believer in lifelong learning, Sh. Muhammad is currently pursuing a PhD in Development Finance, continuing his research into the intersection of ethical finance, economic development, and Shariah governance. His vision for MJC Shariah Advisory Services is: to establish a trusted centre of excellence that delivers world-class Shariah advisory, promotes ethical business practices, and contributes to the growth of the global Islamic economy.

Mufti Muhammad Shoaib

Senior Shariah Advisor

Mufti Hafiz Muhammad Shoaib is a highly respected Shariah scholar and Islamic finance specialist with extensive expertise in Shariah governance, advisory, audit, compliance, product development, and Sukuk structuring. His experience spans the banking, Takaful, non-banking financial services, corporate, NGO, and educational sectors, where he has advised institutions on implementing robust Shariah governance frameworks. He is a registered Shariah Advisor with the Securities and Exchange Commission of Pakistan (SECP) and holds internationally recognised Certified Shariah Advisor & Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) qualifications from AAOIFI. His expertise also extends to emerging areas of Islamic finance, including fintech, blockchain, artificial intelligence (AI), ESG, Islamic REITs, tokenisation, and financial inclusion. In addition to his advisory work, Mufti Shoaib is an accomplished educator and trainer in Islamic finance. He has delivered numerous training programmes and workshops for professionals, students, and financial institutions, contributing significantly to the development of Islamic finance awareness and Shariah governance practices. As Senior Shariah Advisor to MJC Shariah Advisory, Mufti Shoaib provides strategic guidance on Shariah governance, advisory, review, audit, and compliance, supporting the organisation's commitment to delivering internationally aligned Islamic finance solutions grounded in sound Shariah principles.

Mufti Advocate Yaseen Abbas

Chairman Shariah Board

Sh Muhammad West

Chief Financial Officer

Sh. Muhammad West is a Chartered Accountant (SA), Islamic scholar, and experienced financial leader who brings together expertise in finance, governance, and Shariah. He currently serves as Treasurer of the Muslim Judicial Council (MJC) and Chief Financial Officer of the MJC Halaal Trust, providing strategic financial oversight and governance within one of South Africa's leading Islamic institutions. A graduate of the Islamic University of Madinah with a degree in Theology, Sh. Muhammad combines traditional Islamic scholarship with professional accounting expertise. He is a lecturer in the College of Accounting at the University of Cape Town (UCT) and serves as Head of Finance for the International Open University (IOU) as a member of its Global Senior Management Board. In addition to his academic and professional responsibilities, Sh. Muhammad has served as the Imam of Boorhaanol Islam Masjid for over 15 years and is an Executive Board Member of the Imam Development Programme (IDP), contributing to the development and training of religious leadership. As a Shariah Board Member of MJC Shariah Advisory, he contributes his expertise in Islamic governance, finance, risk management, and institutional oversight, supporting the delivery of credible, ethical, and Shariah-compliant advisory, review, audit, and certification services.


What is Islamic finance?

Islamic finance refers to financial activities that adhere to Shariah (Islamic law) principles, which prohibit the charging of interest (riba) and promote risk-sharing, asset backing, and ethical investments.

Why is interest (riba) prohibited in Islamic finance?

Riba is prohibited in Islam because it involves making money from money without any effort or risk-taking, which is seen as exploitative. Instead, Islamic finance encourages fair profit-sharing and risk-sharing.

What is the difference between Islamic finance and conventional finance?

Conventional finance operates based on interest and allows for speculation and uncertainty. Islamic finance, on the other hand, prohibits interest and emphasizes ethical investments, asset backing, and risk-sharing partnerships.

What are the key principles of Islamic finance?

The key principles include:
  • Prohibition of interest (riba).
  • Prohibition of uncertainty or speculation (gharar).
  • Promotion of risk-sharing (mudarabah and musharakah).
  • Prohibition of investing in unethical or haram activities (e.g., alcohol, gambling, pork).

How does Islamic finance ensure compliance with Shariah law?

Organizations consult with Shariah scholars who provide guidance and oversight to ensure that financial products and transactions comply with Islamic principles. They also conduct regular audits and reviews.

What are some common modes of financing in Islamic finance?

Common modes include:
  • Murabaha (cost-plus financing).
  • Mudarabah (profit-sharing partnership).
  • Musharakah (joint venture partnership).
  • Ijara (leasing).
  • Sukuk (Islamic bonds).
  • Qard al-Hasan (benevolent loan).

Is Islamic finance only for Muslims?

No, Islamic finance principles can benefit anyone seeking ethical and socially responsible investment options. Many non-Muslims also use Islamic financial products due to their adherence to ethical guidelines and risk-sharing principles.

How does Islamic finance handle insurance?

Islamic finance uses a concept called Takaful, which is based on mutual cooperation and shared responsibility among participants. It operates without interest and adheres to Shariah principles, ensuring that risk is shared among all participants.


  • 20 Cashel Avenue, Athlone, Cape Town, South Africa
  •  Mon-Fri - 08:00-17:00