Enigmastrategy.com Review

Based on looking at the website, Enigmastrategy.com presents itself as a bespoke Multi Asset Discretionary Investment Management firm.

While it targets a broad mix of investors, including institutions, charities, and individuals, the nature of its services—investment management, advisory services, and execution-only services—falls under financial activities that often involve interest riba in conventional settings.

In Islam, engaging in interest-based transactions is strictly prohibited, as it is considered exploitative and unjust.

The website’s explicit mention of investment risks, including potential loss of capital and currency fluctuations, is standard for financial services but doesn’t mitigate the underlying issue of potential non-halal operations.

Therefore, from an Islamic ethical perspective, Enigmastrategy.com is not recommended for Muslims seeking financial services, as its offerings are highly likely to be non-compliant with Sharia principles due to the pervasive nature of interest in conventional investment management.

Overall Review Summary:

• Ethical Compliance Islamic Perspective: Not recommended. Highly likely to involve Riba interest.
• Transparency: Appears transparent regarding risks and regulatory status FCA regulated.
• Services Offered: Investment Management, Advisory Services, Execution Only Services.
• Target Audience: Retail, high-net-worth individuals, professionals, institutions, charities, trusts, and financial firms.
• Risk Disclosure: Clear disclaimers about investment risks, including capital loss and currency movements.
• Contact Information: Provides email and phone number.
• Missing Information: Lacks explicit details on their investment philosophy regarding Sharia compliance, which is crucial for Muslim investors. No information on specific Sharia-compliant products or services.

Best Alternatives for Ethical Financial Management Sharia-Compliant:

When it comes to managing finances ethically, especially from an Islamic perspective, the focus shifts to services that strictly adhere to Sharia principles, avoiding interest riba, gambling maysir, and excessive uncertainty gharar. Here are some ethical alternatives that prioritize Sharia compliance:

• Wahed Invest

  • Key Features: Global Sharia-compliant digital investment platform, diversified portfolios, low minimums, automated investing.
  • Average Price: Management fees typically range from 0.49% to 0.99% of AUM, depending on the plan.
  • Pros: Fully Sharia-compliant portfolios, accessible for various investor sizes, transparent fee structure, globally available.
  • Cons: Limited range of investment options compared to conventional platforms, potential for higher fees than some DIY options.

• Amanah Ventures

  • Key Features: Focuses on venture capital and private equity investments in ethical, Sharia-compliant businesses. Aims for high growth while adhering to Islamic principles.
  • Average Price: Typically involves direct investment, with fees and profit-sharing structures varying per fund or deal.
  • Pros: Invests directly in real, ethical businesses. potential for higher returns. supports the growth of Islamic economy.
  • Cons: Higher risk due to venture capital nature. illiquid investments. generally requires a higher minimum investment.

• Lariba

  • Key Features: Offers Sharia-compliant financing for homes, businesses, and commercial properties, primarily operating on a Murabaha cost-plus-profit or Musharakah partnership basis instead of interest.
  • Average Price: Profit rates are negotiated and disclosed upfront, replacing traditional interest rates.
  • Pros: Provides much-needed halal financing solutions. avoids interest entirely. focuses on real asset-backed transactions.
  • Cons: May have stricter qualification requirements. not as widely available as conventional financing. transaction processes can be more detailed.

• Fajr Capital

  • Key Features: Private equity firm investing in Sharia-compliant companies across various sectors, focusing on high-growth markets.
  • Average Price: Specific fee structures are for institutional investors and not publicly disclosed for retail.
  • Pros: Large-scale investments in ethical businesses. strong governance. contributes to economic development within Sharia framework.
  • Cons: Exclusively for institutional or high-net-worth accredited investors. not accessible to the average retail investor.

• National Zakat Foundation NZF

  • Key Features: While not an investment firm, NZF manages Zakat funds obligatory charity in Islam and uses them to support eligible recipients. It embodies ethical wealth redistribution.
  • Average Price: No fees for the donor. 100% of Zakat collected is distributed to beneficiaries after operational costs, which are covered by specific donations.
  • Pros: Directly addresses poverty and social welfare. ensures Zakat is distributed according to Islamic guidelines. highly transparent in operations.
  • Cons: Not an investment platform. primarily a charitable organization for Zakat and Sadaqah.

• Islamic Finance Guru IFG

  • Key Features: An educational and advisory platform that helps Muslims find Sharia-compliant financial products and services, including investments, mortgages, and ethical wills. They provide resources and connect users with providers.
  • Average Price: Many resources are free. some premium guides or advisory services may have a fee.
  • Pros: Excellent resource for understanding halal finance. independent advice. comprehensive guides and directories for Sharia-compliant products.
  • Cons: Not a direct service provider, but a guide. users still need to engage with third-party providers.

• Zoya App

  • Key Features: A mobile application that helps Muslims identify Sharia-compliant stocks. It provides a real-time Sharia compliance screening tool for global equities, helping users build halal portfolios.
  • Average Price: Free basic access. premium subscriptions offer more in-depth analysis and features typically a few dollars per month.
  • Pros: User-friendly interface. instant Sharia screening. educational resources on Islamic finance.
  • Cons: Focuses only on stock screening, not a brokerage or investment platform. requires users to have their own brokerage accounts.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Enigmastrategy.com Review & First Look

Based on a thorough review of Enigmastrategy.com’s public-facing website, it becomes immediately clear that this is a firm deeply embedded in the conventional financial services industry. The language used, such as “Multi Asset Discretionary Investment Management” and phrases like “value of investments and the income therefrom is not guaranteed and can fall as well as rise due to stock market and currency movements,” are standard disclaimers for interest-based investment vehicles. For a Muslim seeking Sharia-compliant financial solutions, these terms alone raise significant red flags. The website makes no mention of Sharia-compliant products, ethical screening for investments, or any specific offerings tailored to Islamic finance principles. This absence is a critical indicator that their core operations likely involve elements prohibited in Islam, primarily riba interest.

Understanding the Conventional Investment Model

Conventional investment models, which Enigmastrategy.com appears to follow, are fundamentally built upon concepts like interest-bearing bonds, conventional stock market trading which may include companies involved in haram activities, and derivatives.

These are the lifeblood of most traditional investment firms.

• Interest Riba: In Islam, any predetermined, guaranteed payment over and above the principal amount in a loan or debt transaction is considered riba and is strictly prohibited. This extends to interest earned on bonds, savings accounts, and many forms of financing.
• Uncertainty Gharar and Gambling Maysir: While less direct, some complex financial instruments and speculative trading in conventional finance can introduce excessive gharar uncertainty or resemble maysir gambling, both of which are forbidden.
• Ethical Screening: Conventional firms typically do not screen investments based on ethical criteria like avoiding industries involved in alcohol, tobacco, pornography, or conventional banking, all of which are critical for Sharia compliance.

The Problem of Riba in Modern Finance

Riba is not merely an ethical preference.

It is a fundamental prohibition in Islamic economic law.

The Quran explicitly condemns riba, and the Prophet Muhammad peace be upon him cursed those who consume it, give it, record it, and witness it.

The economic rationale behind this prohibition lies in promoting justice, equitable distribution of wealth, and discouraging unearned income.

• Economic Impact: Riba can lead to wealth concentration, inflate debt burdens, and create instability in financial markets, as seen in numerous economic crises.
• Spiritual Impact: Engaging in riba is considered a major sin, eroding blessings and spiritual well-being.
• Halal Alternatives: The Islamic finance industry has developed robust alternatives based on profit-and-loss sharing, real asset-backed transactions, and ethical partnerships to provide legitimate financial services without interest.

Given the lack of any Sharia-specific information on Enigmastrategy.com and its clear alignment with conventional investment practices, it is highly improbable that their services are Sharia-compliant.

Muslims seeking to manage their wealth ethically should look for firms explicitly certified as Sharia-compliant by reputable Islamic scholars or supervisory boards.

Enigmastrategy.com’s Approach to Wealth Management

Enigmastrategy.com positions itself as a “boutique firm” that prioritizes “the personal touch” and “transparency.” They aim to guide clients through “well-informed investment decisions” by offering “access to sophisticated investments through our proprietary research and robust industry relationships.” This all sounds great on the surface for anyone looking for a tailored financial service. However, the crucial point for those adhering to Islamic principles is how these sophisticated investments are structured and what they consist of. Amazingmemoriessafaris.com Review

The “Bespoke” Promise and its Implications

When a firm promises “bespoke” services, it suggests a high degree of customization.

While this can be beneficial in general, it also means that the underlying instruments and strategies are designed to meet individual client needs, which in a conventional setting, rarely includes specific Sharia screening unless explicitly requested and advertised.

• Customization vs. Compliance: A bespoke service in conventional finance might tailor risk levels, asset allocation, and investment horizons. It does not automatically imply adherence to religious ethical guidelines unless that is a stated specialization of the firm.
• Proprietary Research and Industry Relationships: These are standard assets for any investment firm. For Sharia-compliant investing, this would ideally mean proprietary research into halal equities, sukuk Islamic bonds, and ethical business models, as well as relationships with Sharia scholars for guidance. Enigmastrategy.com does not indicate any such specialization.

Transparency and Risk Disclosure

The website includes a clear “RISK WARNING” section, which is commendable and legally required for financial services.

It states: “The value of investments and the income therefrom is not guaranteed and can fall as well as rise due to stock market and currency movements.

When you sell your investment, you may get back less than you originally invested.” This level of transparency on risk is standard and beneficial.

• Standard Practice: Every legitimate investment firm will include such disclaimers, reflecting the inherent volatility of financial markets.
• Missing Ethical Disclosure: What’s missing, however, is a disclosure or affirmation regarding ethical investment standards, especially for Islamic finance. For a firm targeting a diverse clientele, including “charities,” it’s surprising there’s no mention of specific ethical investment mandates beyond financial performance. Charities, particularly Islamic ones, often have strict requirements for how their funds are managed.

Enigmastrategy.com Services: A Closer Look

Enigmastrategy.com outlines three primary service categories: Investment Management, Advisory Services, and Execution Only Services.

Each of these, in a conventional framework, carries the high probability of involvement with non-Sharia-compliant financial instruments and practices.

Investment Management

This is typically where the firm takes discretionary control over a client’s portfolio.

In conventional finance, this often involves investing in a mix of stocks, bonds, mutual funds, and other financial products.

• Conventional Portfolio Construction: A typical multi-asset portfolio managed by such a firm would include:
  • Equities: Stocks of publicly traded companies, often without any Sharia screening for their core business activities e.g., alcohol, arms, gambling, conventional banking.
  • Fixed Income Bonds: The vast majority of corporate and government bonds are interest-bearing, which is riba. Sharia-compliant alternatives are sukuk.
  • Funds: Mutual funds or ETFs that pool investments, often without Sharia compliance filters.
• Discretionary Mandate: When a firm has a discretionary mandate, they make investment decisions on behalf of the client without needing prior approval for every single trade. This means that if the firm does not operate under a Sharia-compliant framework, the client’s investments will almost certainly involve haram elements.

Advisory Services

Here, the firm provides recommendations, but the client retains final decision-making authority. Wellhappy.com Review

While this offers more control, the advice itself would still be based on conventional financial principles and products.

• Recommendations Based on Conventional Models: The advice would likely steer clients towards mainstream investment products, including those that generate interest or are not Sharia-compliant.
• Due Diligence Burden: The onus would be on the client to independently verify the Sharia compliance of every single recommended investment. This is an extremely challenging task without expert knowledge of Islamic finance screening criteria.
• No Sharia Screening Mentioned: The website does not suggest that their advisory service includes a Sharia-screening process for recommended investments.

Execution Only Services

This service is for clients who know exactly what they want to buy or sell and simply need a platform to execute the trades.

The firm acts purely as a broker, facilitating the transaction.

• Client Responsibility: In this model, the client is entirely responsible for the Sharia compliance of their chosen investments. If a Muslim client uses this service, they must ensure that every single stock, bond, or fund they instruct the firm to buy is halal.
• Lack of Guidance: The firm offers no guidance on Sharia compliance for this service, as its role is merely to execute orders.
• Brokerage Platform: While the firm is FCA regulated Financial Conduct Authority, this regulation pertains to consumer protection and financial integrity, not Sharia compliance.

For Muslims, engaging with any of these services without explicit Sharia-compliant options is fraught with risk.

The inherent structure of conventional finance, which Enigmastrategy.com operates within, makes it unsuitable for ethical Islamic investing.

Regulatory Status and Implications for Enigmastrategy.com

Enigmastrategy.com states that “Enigma Strategy is authorised and regulated by the Financial Conduct Authority ‘FCA’. Financial Reference Number: 926961.” This is a critical piece of information for any financial services firm operating in the UK.

Being regulated by the FCA signifies adherence to strict regulatory standards designed to protect consumers, maintain market integrity, and promote competition.

Understanding FCA Regulation

The Financial Conduct Authority FCA is the conduct regulator for nearly 60,000 financial services firms and financial markets in the UK.

It sets rules, supervises firms, and enforces standards to ensure that financial markets work well.

• Consumer Protection: FCA regulation means the firm must meet capital requirements, have robust systems and controls, and handle client money appropriately. It also means clients may have access to the Financial Services Compensation Scheme FSCS in case the firm fails, offering protection up to certain limits.
• Market Integrity: The FCA aims to prevent market abuse, insider trading, and other illicit activities, ensuring fairness and transparency in financial markets.
• Operational Standards: Firms must comply with rules regarding professional competence, client onboarding, risk management, and complaints handling.

What FCA Regulation Does NOT Mean for Islamic Finance

While FCA regulation is a positive sign for the general legitimacy and operational soundness of Enigmastrategy.com, it does not equate to Sharia compliance. Theadminbar.com Review

• No Sharia Endorsement: The FCA does not regulate or certify Sharia compliance directly. Their role is to ensure financial firms operate fairly and legally within the UK framework, not to certify adherence to religious laws.
• Conventional vs. Islamic Frameworks: An FCA-regulated firm can operate entirely within a conventional framework, dealing with interest-bearing products and non-Sharia-compliant companies, and still be fully compliant with FCA rules.
• Client’s Responsibility: The burden of ensuring Sharia compliance for investments lies with the client or, ideally, with a firm that explicitly states and demonstrates its adherence to Islamic finance principles through a Sharia Supervisory Board.

Why This Matters for Muslim Investors

For a Muslim investor, simply seeing “FCA regulated” is insufficient.

It provides comfort regarding the firm’s legal standing and consumer protection but offers no assurance regarding the ethical permissibility of the investments themselves.

A truly Sharia-compliant firm would proudly display its Sharia Supervisory Board, its adherence to AAOIFI Accounting and Auditing Organization for Islamic Financial Institutions standards, or similar certifications, alongside its regulatory status.

The absence of such information on Enigmastrategy.com reinforces the conclusion that their services are not designed for Sharia-compliant investing.

Enigmastrategy.com Pros & Cons from an Islamic Ethical Lens

When evaluating Enigmastrategy.com, especially from an Islamic ethical perspective, the conventional pros and cons are overshadowed by the fundamental issue of Sharia compliance.

Therefore, the “pros” are limited to general operational aspects, while the “cons” heavily weigh on the ethical permissibility of their services.

Cons from an Islamic Ethical Lens

The overwhelming drawback of Enigmastrategy.com for a Muslim investor is the strong likelihood of involvement in non-Sharia-compliant financial activities.

• Likely Riba Interest Involvement: The core of conventional investment management and advisory services often involves interest-bearing instruments bonds, conventional loans, interest on cash balances. The website provides no indication that it screens for or avoids these. This is the primary and most significant deterrent for Muslims.
• No Sharia Compliance Disclosure: There is no mention of a Sharia Supervisory Board, Sharia-compliant product offerings, ethical screening of investments e.g., avoiding industries like alcohol, gambling, or conventional banking, or adherence to AAOIFI standards. This omission is a critical red flag.
• Conventional Investment Universe: Without specific Sharia screening, the “sophisticated investments” they offer likely include companies or sectors that are not permissible under Islamic law.
• Risk of Investing in Haram Industries: A typical conventional portfolio could include shares in companies involved in alcohol production, gambling, conventional insurance, or interest-based lending.
• Ethical Conflict for Muslim Investors: Engaging with a firm that does not explicitly guarantee Sharia compliance puts a Muslim investor in a precarious position, potentially leading them to inadvertently engage in prohibited financial transactions.
• Absence of Halal Alternatives: The website does not offer any Sharia-compliant alternatives within its service offerings, meaning a Muslim client would have to compromise their principles or seek services elsewhere.

General Pros Not Specific to Islamic Compliance

These “pros” are what any conventional financial firm would offer, and while they indicate professionalism in a general sense, they do not address the Sharia compliance issue.

• FCA Regulation: The firm is authorized and regulated by the Financial Conduct Authority FCA, which indicates a degree of legitimacy, consumer protection, and adherence to UK financial regulations. This provides a level of trust regarding their operational standards and client asset handling.
• Clear Risk Warnings: The website includes prominent and clear disclaimers about investment risks, such as the potential loss of capital and the impact of market and currency movements. This is a sign of responsible disclosure.
• Professional Website Presence: The website appears professionally designed, with clear service descriptions and contact information.
• Broad Clientele Focus: They cater to a wide range of investors, from retail to institutions, suggesting a broad scope of expertise though this doesn’t guarantee Sharia compliance.
• Contact Information: Provides a clear email and phone number for inquiries.

In summary, while Enigmastrategy.com might be a legitimate and well-regulated conventional investment firm, its fundamental structure and lack of any Sharia-specific offerings make it an unsuitable choice for Muslims committed to ethical Islamic finance.

Enigmastrategy.com Alternatives for Ethical Wealth Management

For Muslims seeking to manage their wealth ethically, the focus must shift entirely from conventional investment firms to those explicitly rooted in Islamic finance principles. Homadic.com Review

These alternatives ensure that all transactions, investments, and financial products adhere to Sharia law, avoiding interest riba, excessive uncertainty gharar, gambling maysir, and investments in prohibited industries like alcohol, pork, conventional banking, and entertainment that conflicts with Islamic values.

Core Principles of Sharia-Compliant Alternatives:

• Asset-Backed Transactions: Investments are tied to tangible assets and real economic activities, rather than purely speculative financial instruments.
• Profit and Loss Sharing: Risk and reward are shared between parties, promoting fairness and partnership.
• Ethical Screening: Investments are rigorously screened to exclude companies involved in non-permissible activities.
• Sharia Supervisory Board: A board of independent Islamic scholars oversees and certifies the compliance of all products and services.
• Avoidance of Riba: No interest is charged or earned on any transaction.
• Transparency: All financial dealings are transparent, and clients are fully aware of the underlying assets and structures.

Examples of Ethical Alternatives:

1. Wahed Invest: A global digital investment platform offering fully Sharia-compliant portfolios. They automate investments in diversified portfolios that are regularly screened by their Sharia Supervisory Board. This is an excellent option for individuals looking for easily accessible and professionally managed halal investments.

2. Amanah Ventures: Focused on venture capital and private equity, Amanah Ventures invests in ethical and Sharia-compliant businesses. This provides an opportunity for individuals to invest in real businesses that align with their values, often with a longer-term growth perspective.

3. Lariba: Specializes in Sharia-compliant financing solutions, particularly for real estate home and commercial properties and business financing. They operate on principles like Murabaha cost-plus-profit and Musharakah partnership, providing a critical alternative to interest-based loans.

4. Islamic Finance Guru IFG: While not a direct service provider, IFG is an invaluable resource for Muslims seeking to understand and access Sharia-compliant financial products. They provide comprehensive guides, articles, and directories of ethical financial service providers across various categories.

5. Zoya App: This mobile application is a powerful tool for individual investors. It provides real-time Sharia compliance screening for publicly traded stocks, allowing users to verify if a stock meets Islamic investment criteria before buying it through their own brokerage.

6. Takaful Islamic Insurance: Instead of conventional insurance, Takaful operates on mutual cooperation and donation, where participants contribute to a fund used to help those who suffer loss. Companies like Salaam Takaful or Takaful International offer Sharia-compliant alternatives to life, health, and general insurance.

   

7. Ethical Microfinance Institutions: While often focused on social impact, many microfinance institutions operate on principles similar to Islamic finance, providing interest-free loans or profit-sharing models to empower small businesses and low-income individuals. These are often community-based or non-profit organizations.

These alternatives represent a spectrum of services, from automated investment platforms to direct financing and educational resources, all united by their commitment to Sharia compliance. Estavisa-org.com Review

For any Muslim investor, partnering with a firm that explicitly adheres to Islamic finance principles and has a transparent Sharia governance structure is paramount.

How to Approach Financial Planning Ethically

For Muslims, financial planning isn’t just about maximizing returns. it’s about aligning wealth management with divine principles. This means more than just avoiding riba interest. it encompasses earning wealth through permissible means, spending it responsibly, and fulfilling religious obligations like Zakat. Approaching financial planning ethically requires a holistic framework that integrates worldly pursuits with spiritual accountability.

The Role of Halal Income

The foundation of ethical financial planning in Islam is ensuring all income streams are halal permissible. This involves avoiding:

• Prohibited Industries: Earning from businesses involved in alcohol, pork, gambling, pornography, conventional banking due to interest, and weapons manufacturing used for oppression.
• Unjust Dealings: Income derived from fraud, deception, bribery, theft, or exploitation.
• Riba-Based Transactions: Any income generated from interest, whether through loans, bonds, or interest-bearing savings accounts.

Example: Instead of working for a conventional bank’s lending department, a Muslim might seek employment in Islamic banking, halal investment firms, or any industry that provides permissible goods and services.

Ethical Spending and Consumption

Ethical financial planning extends to how wealth is spent. This includes:

• Avoiding Extravagance: Spending should be moderate, avoiding wasteful consumption israf and unnecessary extravagance.
• Prioritizing Needs: Basic necessities should be met first, followed by comforts, and then luxuries, always with gratitude.
• Supporting Ethical Businesses: Consciously directing spending towards businesses that operate ethically, contribute positively to society, and are environmentally responsible.

Statistics: A 2021 study by the Global Islamic Economy Report indicated the global Muslim consumer spending on modest fashion, halal food, and Islamic-friendly travel alone was valued at over $2 trillion, highlighting the growing market for ethical consumption.

Fulfilling Religious Obligations: Zakat and Sadaqah

A critical component of Islamic financial planning is the fulfillment of Zakat, the obligatory annual charity on wealth, and encouraging Sadaqah voluntary charity.

• Zakat Calculation: Zakat is typically 2.5% of net productive wealth cash, gold, silver, business inventory, investments held above a certain threshold Nisab for a full lunar year.
• Purpose of Zakat: It serves as a mechanism for wealth redistribution, poverty alleviation, and purification of wealth.
• Impact of Sadaqah: Voluntary charity, even small amounts, is highly encouraged for its spiritual rewards and societal benefits. Many Muslims allocate a portion of their income or investment returns to charitable causes.

Real Data: In 2022, global Zakat contributions were estimated to be in the tens of billions of dollars annually, playing a significant role in humanitarian aid and community development worldwide. For instance, the National Zakat Foundation in the UK distributed over £10 million in Zakat in 2023 to assist local Muslim communities.

Long-Term Planning and Legacy

Ethical financial planning also encompasses long-term goals, including retirement planning, education savings, and estate planning, all structured within Islamic guidelines.

• Halal Retirement Funds: Investing in Sharia-compliant pension schemes or mutual funds that avoid interest and impermissible investments.
• Wills Wasiyyah: Drafting an Islamic will to ensure assets are distributed according to Sharia inheritance laws, preventing disputes and fulfilling obligations.
• Endowments Waqf: Establishing charitable endowments Waqf to create lasting legacies that benefit communities, such as building schools, hospitals, or providing scholarships.

By integrating these ethical considerations into financial planning, Muslims can ensure their wealth serves not only their material needs but also their spiritual well-being and societal responsibilities. Yourmediagroup.org Review

FAQ

What is Enigmastrategy.com?

Enigmastrategy.com is a financial services firm that offers bespoke Multi Asset Discretionary Investment Management, Advisory Services, and Execution Only Services to a diverse clientele including individuals, institutions, and charities.

Is Enigmastrategy.com regulated?

Yes, Enigmastrategy.com Enigma Strategy is authorized and regulated by the Financial Conduct Authority FCA in the UK, with Financial Reference Number: 926961.

Does Enigmastrategy.com offer Sharia-compliant investments?

Based on the information available on their website, Enigmastrategy.com does not explicitly mention or offer Sharia-compliant investment products or services.

Their offerings appear to be within the conventional financial framework.

What are the main services provided by Enigmastrategy.com?

Their main services include Investment Management where they manage investments on your behalf, Advisory Services providing investment recommendations, and Execution Only Services facilitating trades based on client instructions.

What are the risks associated with Enigmastrategy.com’s investments?

As stated on their website, the value of investments and the income therefrom is not guaranteed and can fall as well as rise due to stock market and currency movements.

When you sell your investment, you may get back less than you originally invested.

Why is Enigmastrategy.com not recommended for Muslims?

Enigmastrategy.com is not recommended for Muslims because it operates within a conventional financial framework that likely involves interest riba and investments in industries not permissible under Islamic law.

There is no indication of Sharia compliance screening or oversight.

What is Riba interest in Islam?

Riba refers to any predetermined, guaranteed payment over and above the principal amount in a loan or debt transaction. Phatforums.com Review

It is strictly prohibited in Islam due to its perceived injustice and exploitative nature.

What are some ethical alternatives to Enigmastrategy.com for Muslims?

Ethical alternatives for Muslims include Wahed Invest digital Sharia-compliant investing, Amanah Ventures halal venture capital, Lariba Sharia-compliant financing, and resources like Islamic Finance Guru IFG and Zoya App for screening stocks.

How do Sharia-compliant investments differ from conventional investments?

Sharia-compliant investments avoid interest riba, excessive uncertainty gharar, gambling maysir, and investments in prohibited industries like alcohol, pork, conventional banking. They are often asset-backed and involve profit-and-loss sharing.

What is the role of a Sharia Supervisory Board?

A Sharia Supervisory Board consists of independent Islamic scholars who review and certify that a financial institution’s products, services, and operations adhere to Islamic law, ensuring ethical compliance.

Is FCA regulation sufficient to ensure Sharia compliance?

No, FCA regulation ensures that a financial firm operates legally and responsibly within the UK’s financial framework, protecting consumers.

However, it does not certify or regulate Sharia compliance, which is a separate ethical standard.

What does “bespoke Multi Asset Discretionary Investment Management” mean?

It means the firm offers highly customized investment management services across various asset classes like stocks, bonds, real estate where they have the authority to make investment decisions on behalf of the client without needing their approval for every single trade.

How can I verify if an investment is Sharia-compliant?

You can verify Sharia compliance by looking for explicit statements from the financial provider about their Sharia Supervisory Board, adherence to standards like AAOIFI, or by using dedicated Sharia screening tools like the Zoya App for stocks.

What are “Execution Only Services”?

Execution Only Services mean the firm acts purely as a broker, facilitating trades for clients who make their own investment decisions.

The firm does not provide advice or manage the portfolio in this service. Startupdev.house Review

Can charities use Enigmastrategy.com’s services ethically from an Islamic perspective?

For Islamic charities, using Enigmastrategy.com’s services would likely be problematic as their funds would need to be managed strictly according to Sharia principles, avoiding interest and prohibited investments, which Enigmastrategy.com does not explicitly guarantee.

What should I look for in an ethical financial advisor as a Muslim?

You should look for an advisor or firm that explicitly specializes in Islamic finance, has a certified Sharia Supervisory Board, offers Sharia-compliant products, and can demonstrate their screening process for investments.

What is the significance of the “RISK WARNING” on Enigmastrategy.com?

The “RISK WARNING” is a standard legal disclaimer that all investment firms are required to provide.

It informs potential clients about the inherent risks of investing, including the possibility of losing money.

How does Islamic finance promote justice?

Islamic finance promotes justice by prohibiting interest riba and encouraging risk-sharing, asset-backed transactions, and ethical dealings.

This aims to prevent exploitation, ensure equitable distribution of wealth, and promote real economic activity.

What is Zakat and how does it relate to financial planning?

Zakat is an obligatory annual charity in Islam, calculated on certain types of wealth above a threshold Nisab. It is a fundamental part of Islamic financial planning, as it purifies wealth and contributes to social welfare.

How can I learn more about Sharia-compliant finance?

You can learn more about Sharia-compliant finance through resources like Islamic Finance Guru IFG, reputable Islamic finance academic institutions, and books on Islamic economics and finance.

Newmuseum.org Review