Interest Free Digital Transactions Assured
Nagad Islamic Shariah Board Holds First Meeting
- Reconstituted Nagad Islamic Shariah Supervisory Board convenes its ninth overall meeting
- Renowned scholar Mufti Gazi Mohammad Sanaullah leads operational and fintech policy review
- App integration allows seamless migration to interest free Islamic mobile finance
Ensuring strict adherence to Shariah principles across mobile financial services, the newly reconstituted Shariah Supervisory Board of 'Nagad Islamic'—the Shariah-compliant wing of MFS operator Nagad—held its first meeting following its restructuring.
Announced on Monday (October 19, 2026), the board, restructured on October 1, convened its ninth meeting since inception on October 15, 2026, to review backend operations and ensure fully interest-free digital transactions for users.
Chaired by renowned Islamic scholar and jurist Mufti Gazi Mohammad Sanaullah, the meeting was attended by jurist members Mufti Lukman Hasan and Dr. Abu Talib Mohammad Monawer, who evaluated the core financial workflows and operational policies of Nagad Islamic.
Delivering his presidential address, Board Chairman Mufti Gazi Mohammad Sanaullah highlighted that the board is committed to enforcing interest-free transactions for Nagad Islamic users, noting that the supervisory body will maintain continuous monitoring and tech-aligned regulatory guidance.
The board expressed satisfaction with Nagad Islamic's existing deposit and transaction framework while mapping out plans to introduce new digital Islamic financial instruments soon.
Users can convert their standard Nagad account into an Islamic account via the 'My Nagad' menu in the mobile application. The platform enables digital payments for Zakat, charitable donations (Sadaqah), Hajj and Umrah travel expenses, and Islamic life insurance premiums, alongside embedded digital tools like prayer timings, daily Mas'ala, and an automated Zakat calculator.
//DBTech/LMLS/SMC/MIST//
