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What Shariah concept are microLEAP's Islamic Investment Notes based on?

microLEAP bases its Islamic Investment Notes on the concept of Commodity Murabahah (via Tawarruq arrangement). Tawarruq involves a purchase of assets or commodities on a deferred payment basis by way of Murabahah as the financing mode.

On top of that, microLEAP also utilises Wakalah (agency) contract as microLEAP acts as an agent (wakil) which intermediates issuer and investors in this peer-to-peer platform.

What is Tawarruq and what is Commodity Murabahah?

Murabahah refers to a sale and purchase of an asset where the acquisition cost and the mark-up are disclosed to the purchaser;

Tawarruq consists of two sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis.

What businesses are considered Shariah compliant / non compliant?

Below is the list of shariah non-compliant activities as per Securities Commission Malaysia:

  1. Conventional Banking
  2. Conventional Insurance
  3. Gambling
  4. Liquor & Liquor-related Activities
  5. Pork & Pork-related Activities
  6. Non-halal food and beverages
  7. Tobacco and Tobacco-related activities
  8. Stockbroking or Share Trading in Shariah Non-compliant Securities
  9. Shariah Non-compliant Entertainment
  10. Other Activities Deemed Non-compliant According to Shariah

Anything outside the non-compliant list will generally fall within Shariah compliant activities.

microLEAP’s Shariah Advisors will have final say on what is considered Shariah on microLEAP’s platform.

Who can invest in our Islamic Investment Notes?

Anyone who is a registered P2P Investor on microLEAP’s platform may invest in our Islamic Investment Notes. As long as you want to invest in businesses and industries that are both ethical and follow the principles of Shariah, please give our Islamic Investment Notes a try! 

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