Press Release
19 October, 2026, 04:25 pm
Last modified: 19 October, 2026, 04:28 pm
The newly reconstituted Shariah Supervisory Board of Nagad Islamic, Nagad's Shariah-compliant digital financial service, held its first meeting on 15 October, 2026, focusing on compliance, operational policies and plans for new Islamic financial products.
The board was reconstituted on 1 October to oversee operations and ensure Shariah-compliant, interest-free transactions. This was the ninth board meeting since the service's inception, according to the press release.
Chaired by Islamic scholar and jurist Mufti Gazi Mohammad Sanaullah, the meeting emphasised conducting all Nagad Islamic services and operations in accordance with Islamic Shariah.
Board members Mufti Lukman Hasan and Dr Abu Talib Mohammad Monawer also attended and reviewed the service's overall operational policy.
Addressing the meeting, Mufti Gazi Mohammad Sanaullah said, "We are committed to ensuring fully Shariah-compliant and interest-free transactions for Nagad Islamic customers. To ensure that every activity under this service strictly follows Islamic Shariah principles, the Shariah Supervisory Board will maintain regular monitoring and provide necessary guidance."
The board expressed satisfaction that Nagad Islamic's existing deposit and transaction models were being operated in accordance with Shariah. Members also outlined plans to introduce new Islamic financial products soon.
Nagad said its Islamic accounts operated under the supervision of the Shariah supervisory body, allowing customers to conduct interest-free digital transactions while upholding their religious values and principles.
Customers wishing to use the Islamic service can convert their regular Nagad accounts through the app by selecting "My Nagad" and then "Account Type".
Nagad Islamic accounts allow customers to pay Zakat and Sadaqah digitally, alongside travel and other expenses associated with Hajj and Umrah.
Customers can also pay Islamic life insurance premiums from home using their accounts.
Other features include guidance on everyday Islamic rulings, Hadith, prayer timings and a Zakat calculator.