Nagad Islamic’s new Shariah board holds first meeting

The newly reconstituted Shariah Supervisory Board of Nagad Islamic, the Shariah-compliant digital financial service of mobile financial service provider Nagad, held its first meeting on 15 October 2026, focusing on ensuring that the service’s operations remain fully aligned with Islamic Shariah principles.

Restructured on 1 October, the board is responsible for overseeing Nagad Islamic’s operations and ensuring interest-free transactions for customers. The meeting marked the board’s first gathering in its new form and the ninth meeting since the service was introduced.

Chaired by renowned Islamic scholar and jurist Mufti Gazi Mohammad Sanaullah, the meeting was attended by fellow jurist members Mufti Lukman Hasan and Dr. Abu Talib Mohammad Monawer. The members reviewed Nagad Islamic’s overall operational policies and discussed ways to maintain strict compliance with Islamic Shariah.

Addressing the meeting, Mufti Gazi Mohammad Sanaullah reaffirmed the board’s commitment to ensuring that all transactions under Nagad Islamic remain Shariah-compliant and interest-free. He said the board would continue regular monitoring and provide necessary guidance to ensure every activity adheres to Islamic principles.

The board expressed satisfaction with the existing deposit and transaction models, noting that they are being implemented in accordance with Shariah requirements. It also outlined plans to introduce new Islamic financial products in the near future.

Nagad Islamic accounts operate under the supervision of the Shariah Supervisory Committee, enabling customers to carry out digital financial transactions in an interest-free manner while remaining consistent with their religious values and principles.

Customers interested in Islamic banking-style digital services can convert their existing Nagad accounts into Islamic accounts through the Nagad app. By navigating to the ‘My Nagad’ section and selecting ‘Account Type’, users can switch their active accounts to the Islamic option.

Beyond routine digital transactions, Nagad Islamic offers facilities for paying Zakat and making charitable donations, including Sadaqah. Customers can also use their accounts to cover expenses related to Hajj and Umrah, as well as pay Islamic life insurance premiums from home.

The service further provides a range of faith-based features, including daily Mas’ala (Islamic rulings), Hadith, prayer timings and a Zakat calculator, bringing religious resources and Shariah-compliant financial services together on a single digital platform.

- MaT