FinaMaze launches a series of Islamic smartfolios

By Leandra Monteiro

Celebrating the end of the Holy month of Ramadan and the Eid al-Fitr, ADGM-based innovative asset management firm FinaMaze has announced the launch of its latest Islamic Smartfolio Series.

FinaMaze clients can invest from as low as $2,000 in a new product that reflects the Shariah investment principles. The first Smartfolio of the Islamic Series is the FinaMaze General Islamic Smartfolio. It has exposure to Stocks from 23 developed markets and all are part of the FTSE Shariah USA Index and the MSCI World Islamic Index universe. The product excludes companies with excessive leverage or whose activities are not compatible with Islamic principles.

Companies whose total debt (or cash/ interest-bearing securities) weighs more than a third of their assets are indeed excluded as well as those whose accounts receivable and cash represent more than half of their assets.

The Smartfolio also excludes companies whose total interest income and non-compliant activities (such as alcohol, tobacco, non-halal-related products, conventional financial services, defense/weapons, gambling, or adult entertainment) income exceeds 5% of the total revenue.

Among the selected companies, some operate in the Healthcare sector with names like Johnson & Johnson, Pfizer, Roche (Switzerland), while others are in Consumer staples (Procter & Gamble), Energy (Exxon, Chevron, Shell (GB)), Technology (Apple, Cisco, Adobe) or Auto (Tesla).

Speaking about the launch of the latest product, CEO and Founder of FinaMaze, Mehdi Fichtali said: As the Holy month of Ramadan comes to an end in a few days, and with the Eid al-Fitr celebrations just on the horizon, FinaMaze is happy to launch its latest Islamic Smartfolio Series which respect Shariah investment principles. With this new product, we will meet the requirements of an important segment of our clients, as well as offer Islamic investors the opportunity to access personalized portfolios.

In line with FinaMaze’s plans to expand to Saudi Arabia through the elite Fintech Saudi Regulatory Program, the disruptive asset management firm will continue to use innovative solutions to provide powerful, cost-effective and highly-customized Smartfolios to the benefit of investors in the region.