🎉 Commission-free investing is coming to Zoya! Get Early Access

Are Naya Pakistan Certificates halal per Zoya standards?

Assalam u Aleikum WRB,

Are the Naya Pakistan Certificates Halal per Zoya community standards?


Their website says they are.

Jazak Allah Khair for any input.

Going to tag @taha here. Hopefully, I got the right Taha.

Walaikum Salam!

The Naya Pakistan Certificates that you’ve mentioned from Meezan Bank are Shariah certified by the board of Meezan Bank Limited, and thus we automatically consider them ‘Halal’. Meezan Bank operates on AAOFI standards and that is how these certificates have been designed.

However, please bear in mind that Naya Pakistan Certificates are also issued by conventional banks in Pakistan and those have a Shariah non-compliant structure, so it really depends on who is issuing these products.

1 Like

Jazak Allah Khair for verifying this information Brother Taha. Masha Allah it looks like a great option for overseas Pakistanis.

1 Like


First quick glance shows that the certificates are giving a roughly 5.50% return for a 3-month duration. That’s ~22% return, give or take. How is this feasible?

Salam @abdulsohu,

As I said earlier, this particular product in question was launched by Meezan Bank Limited in collaboration with the State Bank of Pakistan. As a rule, we do not question the Shariah compliance of companies/products that have a certified Shariah compliance board with oversight, which does exist in this case.

The ‘feasibility’ of such a product is a tricky subject and while we may have genuine questions, it is up to the issuing bank and authority to determine if the rates can be sustainably paid to investors. On the face of it, the certificates seem to be backed by the central bank of Pakistan and they can be assumed to be a safe investment, however, I would encourage you to do as much of your own research as possible before undertaking this investment.

Hope that makes sense.

1 Like

The rates that I am seeing are advertised as per annum.

See https://www.meezanbank.com/naya-pakistan-certificate/.