New Brunswick, NJ – Ahmad & Hussain Law Group assisted in developing and launching Mamluk Halal Investment, the first of its kind Shariah Compliant passive real estate investment fund. The firm created a unique Islamic finance structure involving absorbing a Wakala model into a Rule 506(c) private placement offering, which has never been done before. The structure was approved as Shariah Compliant by Usmani & Co PVT LTD, a Shariah Compliance advisory firm founded by Mufti Muhammad Taqi Usmani, one of the leading authorities on Islamic finance. In addition, the fund is working strategically with key operators such as the former head of Islamic Finance at Merrill Lynch with over 25 years of experience in the Islamic Finance sector.
Mamluk Halal Investment fund addresses the issue of lack of meaningful investment products for the underserved American Muslim community conscious about shariah compliance. The fund aims to offer a completely passive investment opportunity in commercial real estate for accredited investors. The goal of the fund is to show American Muslims that there are innovative products being created in this space.
Shahroz S. Ahmad Esq., partner at Ahmad & Hussain Law Group said, “We were able to use our knowledge of both securities law and Islamic finance to create the first truly Shariah Compliant model that merges the Wakala structure into a private placement. We have seen a great demand from the American Muslim community for actual, passive real estate investment products. We believe this will spark a new market opportunity to create and innovate even more investment products that serve American Muslims.”
For more information about Mamluk Halal Investment, please visit: https://mamluk.us/mhi
Ahmad & Hussain Law Group is located at 90 Paterson Street, New Brunswick, NJ 08901 and can be reached at 609-545-2100 or at info@sathlaw.com.
