FAQs

The Namaa Shari’a-compliant money market fund is a public investment fund that offers investors daily liquidity and aims to preserve capital while generating returns higher than comparable Islamic bank deposit rates. The fund adheres strictly to Islamic Shari’a principles by avoiding interest-based instruments and instead investing in compliant alternatives such as Murabaha, Wakalah, and Sukuk.

The fund is open to all investor types, including retail, professional, and institutional investors.

The fund seeks to preserve capital and provide daily returns by investing in highly liquid, low-risk, Shari’a-compliant money market instruments.

The minimum subscription is AED 100, as outlined in the fund’s prospectus.

While not legally guaranteed, the fund is designed to offer a high level of capital protection by maintaining a conservative, low-risk investment strategy similar to that of Islamic banks.

Returns depend on market conditions and the performance of underlying Shari’a-compliant assets. Historical return ranges may be provided upon request.

The fund primarily invests in:
• Murabaha placements
• Islamic term deposits
• Short-term Shari’a-compliant Sukuk
• Wakalah agreements

An independent Shari’a Supervisory Board (SSB) oversees and certifies all investment activities and reviews the fund’s structure and operations to ensure ongoing compliance with Islamic principles.

The Net Asset Value (NAV) is calculated and published daily, or as specified in the fund’s offering memorandum.

All fund documents—such as the prospectus, fact sheet, and Shari’a certificate—are available on the fund’s dedicated webpage: www.madacapital.com/namaa
They are also available upon request from Mada Capital, the fund manager.

The Namaa Fund excludes all interest-bearing instruments and invests solely in Shari’a-compliant alternatives approved by its Shari’a Supervisory Board, unlike conventional money market funds which may use interest-based instruments.

The fund is managed by Mada Capital Investment Management, a licensed fund manager regulated by the UAE Securities and Commodities Authority (SCA).

Yes, the fund is licensed and regulated by the UAE SCA in accordance with prevailing investment fund regulations.

Subscriptions are accepted during official business hours at authorized order-receiving agents.
• Orders submitted by 10:00 AM are processed the same day, and the NAV per unit (NAVPU) used is from the previous business day.
• Orders submitted after 10:00 AM are processed the next business day.
• Payment is made via bank transfer to the fund’s designated account, with proof of transfer submitted alongside the order.

Yes. Investors may redeem all or part of their holdings daily:
• Requests submitted by 10:00 AM are processed the same day.
• Requests submitted after 10:00 AM are processed the following business day.
• Redemption value is based on the NAVPU of the previous business day, as published on the fund’s website.

Although the fund is low-risk, potential risks include:
• Market risk related to Shari’a-compliant instruments
• Liquidity risk
• Counterparty risk (Murabaha and Wakalah transactions)
• Operational risks

Performance and NAV are reported daily, with additional periodic updates and audited semi-annual and annual financial statements.

A qualified Shari’a Supervisory Board reviews all fund activities and issues a formal Fatwa certifying full compliance with Shari’a principles.

The Fund does not distribute dividends. Instead, the Fund Administrative calculates the Net Asset Value (NAV) on a daily basis, with all realized daily profits automatically reinvested and reflected in the unit price. When an investor redeems all or part of their units, the redemption amount includes the original unit value plus the investor’s proportionate share of the cumulative profits accrued up to the redemption date.