Sheikh Faizal Manjoo

Bricklane receives Shariah accreditation for its residential property investment #funds

Bricklane’s funds have been certified as compliant by the Shariah Committee of Minarah Consulting chaired by Sheikh Faizal Manjoo. Through Bricklane’s online platform, individuals can invest flexibly in geographically focussed funds that buy and let residential properties, one focussed on London, and another on the Regional Capitals of Leeds, Manchester and Birmingham. Available through ISAs and SIPPs, and with Real Estate Investment Trust (REIT) tax status, it is the most tax-efficient way to invest in UK residential property. Performance for the Bricklane funds has been strong in both absolute and relative terms, with the Regional Capitals fund returning 8.7% to investors in its first year, and its London fund returning 10% at its first anniversary in July 2018.

Brunei can be strong Islamic finance sector

It seems that Brunei Darussalam possesses a conducive environment for a strong Islamic finance sector and has the potential to be an Islamic finance hub for the global market if it looks outwards.
Sheikh Faizal Manjoo states that it would have been a very difficult progress without the strong backing of the state, in which Brunei has an advantageous position.
Despite this, he indicated that with a relatively small population, Brunei would not be able to speed up growth in the sector and encouraged the Sultanate to look at offshore markets for further growth.

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