ESAAC offers custom-made services by amalgamating Shariah Principles with strategy, novelty and technology; from inception to enactment. We closely supervise every assignment in order to enrich and foster our clienteles’ business. Our global Shariah and management expertise confirms novel and standard approach that empowers our services. Such proficient tools are always available at our clienteles’ disposal for their all-time benefits anywhere in the world.

Our Expertise

We offer a complete suite of services for establishing Islamic Divisions of central banks, commercial banks, capital market, Islamic Banks, Takaful companies, Asset Management Companies, Modaraba Companies etc. We develop a complete suite for Islamic operation in financial institutions including Islamic Regulatory Framework, Development of Policy & Procedures, Shariah Advisory & Supervision, Manuals and Standard Operating Procedures, Product Development & Product Management Services, Shariah Audit & Compliance, Sukuk Advisory & Certification, Legal Documentation, Risk Management Services, Training & Certification, Research & Development.

Our one window turnkey solution for institutions longing to embark upon operation right away is an exceptional offering by ESAAC.
We have an one window shopping facility where you can finds solutions to your ethical and Shariah related issues.

Establishing Islamic Banking Institution

ESAAC provides a turnkey solution for establishing a complete Islamic financial institution or a division, including Islamic Divisions of Central Banks, Islamic commercial Banks, Takaful Operators, Asset Management Companies, Mudharabah Companies etc. right from policies and procedures, standard operating procedures, Shariah Supervision & Advisory services on various Islamic Financial propositions.

Our team has been a part of the regulatory development of Islamic financial sector ranging from policy research, legal drafting, banking supervision, and policy implementation. We have expertise pertaining to regulatory works and supervision tools for Islam banks.

We are well versed in drafting, anchoring and managing various regulatory standards. We have been involved in developing regulatory framework that includes.

ESAAC’s team has also played a significant role in establishing Islamic financial divisions of conventional banks, Insurance Companies, Mutual Funds and Capital Market industry.

Shariah Advisory

ESAAC provides Shariah Supervision & Advisory services on various Islamic Financial propositions. Our Shariah Scholars possess the vision and novelty from multiple disciplines with a wide range of business and industry knowledge. Beside Shariah advisory, we help clients to identify and form their own Shariah Boards. We analyze, to design and structure, implement and support, in order to provide tailor made solutions that serves beyond our client expectations, thus ensuring sustainable business development & growth within Shariah guidelines.

Product Development & Management

ESAAC not only design and develop products for its clients but also offers a product management service. We understand the complexities involved in developing a product from its inception until its launch. ESAAC product developers are well equipped with the substantial knowledge and technical expertise to drive the development project competently.

ESAAC developers initiate right from concept generation until the product is finally launched with a complete blend of customer value and satisfaction. Our novel Product Management proposition allows the clients to devote their concentration upon businesses generation. We also help clients evaluate their existing products and help them reposition in order to retain them as incessant cash cow for the organization.

Treasury Operation

ESAAC designs and develops a complete range of treasury products including policies, structures, products and procedures for addressing Reserve Management, Foreign Exchange, Liquidity Management and Islamic Money Market Instruments for its clients.

Trade Finance

ESAAC provides a total solution to cater international trade business for Islamic Banks. A wide range of products including Funded and Non-funded Letter of Credit, Bill Discounting alternates, Documentary Collection, Export Working capital, Export Credit Insurance factoring and forfaiting.

Training and Development

ESAAC Training Programs intends unique training niche to equip participants with the essential knowledge and skills as well as to nurture them to become well-rounded individuals to support the growth of the Bank. We have designed the training modules to blend technical knowledge and personal development insight, which enables participants to optimize their learning through a mix of classroom training based on case studies, complemented by hands-on exposure through on-the-job training.

The training programs are staggered in different modules/level, keeping the need required by the different departments. The programs provide an insight into the key features of Islamic Banking business including the theoretical foundations and development of Islamic banking practices. ESAAC has a fully functional team that identifies training requirements, develop comprehensive training programs including relevant simulation, design an efficient training calendar and continuously research in order to stay in line with the current global updates. On top of that, ESAAC’s profile include people having core expertise in Shariah laws and have had huge experience in their relevant fields.

Further, Institute of Business Management accredits all training modules conducted by ESAAC. Institute of Business Management (IoBM) and ESAAC have agreed to collaborate on capacity building for Islamic Financial Industry. They intend to impart professional training to executives working in Islamic Financial industries. They will carry out executive training, research, certificate and diploma courses on Islamic Finance.

IoBM is one of the premier universities of the country. The Higher Education Commission of the Federal Government as well as the Government of Sindh rated IoBM one of the country’s top universities. IoBM has also been the proud recipient of two Edunversal Palms, awarded to it at the international convention of Deans of Business Colleges in recognition of its being one of the two best Business Schools since 2010. The academic laurels IoBM has won are equally impressive.

Finance - Pool Management and Profit Distribution

The concept of Islamic Banking (IB) is different from that of Conventional Banks (CB). The concept is not only different with respect to funds deployment but also funds mobilization as IBs cannot enter into any interest based activity. All the funds therefore mobilized by them and the funds deployed there-against should strictly be in accordance with the Shariah principles.

For the purpose, IBs are required to devise a mechanism for funds mobilization, its deployment and the resultant manner of the distribution of profits so earned. The stakeholders of the profit distribution mechanism would include, among others, deposit-holders, financial institutions and high net-worth individuals. As the bank may itself pool its equity alongside other stakeholders in the deployment of assets, it shares the profit under the said mechanism. This mechanism so devised by the IBs is termed as “Pool Management System”.

Sukuk Structuring & Certification

Today, pooling various debts such as mortgages, auto loans, credit card debt obligations and selling these portfolios as bonds, pass-through securities, or Collateralized mortgage obligation (CMOs), is an everyday financial activity.

It’s estimated that global assets of more than trilion dollars are being managed according to Islamic investment principles. Islamic finance is also a subset of the global market and there is little to prevent the conventional investor from participating in the Islamic market.

Looking at the significant size, the need to structure Islamic bonds and securities in a Shariah compliant manner becomes more inevitable.

ESAAC Advisers have a global experience in structuring Sukuk models. We assist clients in advising Sukuk transaction from structuring to certification to meet funding objectives. Our approach is to ensure that both commercial and Shariah considerations are incorporated. We emphasize on developing structures that has a wide Shariah acceptance and marketability.

Besides this we offer:

  • Shariah review, analysis and fatwa services relating to the Sukuk transaction in hand developed products and systems.
  • Assist with the management of the documentation process.
  • Shariah Monitoring
  • Certification of Profit distribution
  • Halaal Certification
  • Shariah Screening of Stock Companies
  • Zakat Calculation of Business & Companies

Shariah Audit and compliance

In order to strengthen the Shariah compliance mechanism within Islamic Financial Institutions and to ensure that all relevant Islamic banking regulations are compliant in letter and spirit, ESAAC assists Islamic Financial Institutions to introduce Shariah compliance mechanism as a part of their control structure.

As an integral part of compliance, Islamic Financial Institutions should also introduce a system of internal Shariah Audit to ensure that they achieve the goals and objectives of Shariah compliance.

Assessing and managing Shariah risk have become primary concern for management and shareholders due to non-availability of technical skills and lack of resources. ESAAC Shariah Auditors can shift the focus to address these concerns and in the process, increase their strategic value to the organization.

ESAAC provides a range of internal and external Shariah audit services from outsourcing to co-sourcing and Quality Assurances Reviews that go above traditional financial reporting to help internal audit realize its full strategic potential.

We have an effective risk based Shariah audit and compliance mechanism that makes our Shariah reviews and audits more effective and efficient. We are cost effective as we reduce the overall cost by reducing travelling cost, redundancy and repetition. Our standard processes and diversified knowledge base improves quality, effectiveness and efficiency. Our reviews and audits are compatible according to the core operations of the institution addressing risks specific to the business.

Takaful Business

Realizing the Takaful industry has a major potential to be developed and enhanced, ESAAC offers a comprehensive range of products and services to its client. ESAAC team has hands on experience in takaful consulting, addressing all facets of takaful from company setup to appointed actuary work. Our services include all models including Mudaraba and Wakala Takaful models. We assist clients from the conceptual stage until product launch. Our consultants assist the clients from conceptualization of the models till product launch, with our services grouped into different phases:

  • Financial Model Development:
  • Shariah Council, Assistance:
  • Developed SOPs and Marketing Materials
  • Operations and Regulatory Assistance

Islamic Capital Market & Stock Screen Services

ESAAC supports investment Companies in multiple ways, whether there is a need to form a new Shariah compliant Mutual Fund, or a launching of an Exchange Traded Fund or ongoing support to an existing fund, we at ESAAC can simplify your complex environment. Our experienced consultants offer practical solutions to help Broker/Dealers, Investment Advisors, Hedge Funds, Mutual Funds, ETFs and Private Equity to develop, protect and grow their business in a Shariah compliant manner.

ESAAC assist companies to launch Shariah compliant mutual funds. It is important to have an experienced partner to assist you understand the whole formation process. We also offer stock screening services on an ongoing basis helping clients to periodically screen the stocks in order to keep their Shariah compliant indices updated.

Zakat Consulting

Calculating Zakat today has become quite cumbersome and technical. Understanding Zakat criteria, Zakatable properties and assets and estimating the Zakat has become quite complex. ESAAC assist you in calculating zakat on your assets in accordance with the Shariah principles on modern businesses and enterprises.

Research & Development

ESAAC’s research activities focus on Islamic Banking, Islamic Insurance (Takaful) and Islamic Capital & Money Market. Our research team conducts research on modern commercial transactions in conjunction with Classical Islamic Jurisprudence. ESAAC have a group of research scholars who possess a distinct blend of both Shariah and contemporary education background clubbed with the modern conventional industry practice. This unique blend provides us with the exception to present a solution-oriented research for business development.

As a result, ESAAC offers a flexible & dynamic Research Consultancy Services specializing in Islamic Financial Industry, which provides the information, the resources and the expertise to make business decisions. Our specialist research scholars improve clients’ understanding of their customers and competitors and enhance their ability to exploit new opportunities.

Unlike other research companies, we are not content with offering our clients market research services alone; we translate research findings into practical managerial policies for effortless decisions.

Education Consulting

ESAAC review your school management systems and evaluate program quality. We recommend helping schools save money, perform more effectively, improve the quality of educational services, and provide a safe environment. As an expert in education management, we help schools and educational institutions administrators address school management and educational and administrative issues.

We also assist clients in establishing schools on a turnkey basis. Areas we focus in are:

  • Develop SOP ;Substantive and procedural issues in education
  • Staff hiring, supervision, promotion, and retention policy and implementation
  • Curriculum designing
  • Providing effective leadership and Administrative collaboration
  • Disciplining students
  • Planning school support
  • Managing for successful educational programs
  • School safety issues
  • Teacher appraisals and dismissals
  • School violence issues: protecting our schools
  • Evaluation of schools in custody cases
  • Parental education and support programs