Nagad Islamic’s new Shariah board holds its first meeting

The newly reconstituted Shariah Supervisory Board of ‘Nagad Islamic’, the Shariah-compliant digital financial service of mobile financial service provider Nagad, met for the first time on 15 October 2026.

The board, restructured on October 1 to oversee operations and ensure fully Shariah-compliant, interest-free transactions for customers, held its ninth meeting since the service’s inception.

The meeting put emphasis on conducting Nagad Islamic’s services and operations in complete accordance with Islamic Shariah. Renowned Islamic scholar and jurist Mufti Gazi Mohammad Sanaullah is serving as chairman of this new board. Other jurist members present at the meeting – Mufti Lukman Hasan and Dr. Abu Talib Mohammad Monawer – reviewed the overall operational policy of Nagad Islamic.

Delivering his presidential address at the first meeting, Board Chairman 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.”

During the meeting, the board expressed satisfaction that Nagad Islamic’s existing deposit and transaction models are being executed in accordance with Shariah. They also mapped out plans to introduce new Islamic financial products soon.

Nagad Islamic MFS accounts are operated entirely under the supervision of the Shariah Supervisory Committee. Through such accounts, customers can easily conduct digital transactions with their hard-earned money in an interest-free, Shariah-compliant manner while upholding their religious values and principles.

Customers who wish to receive Islamic services can easily convert their regular Nagad account into an Islamic account. To do so, they need to go to the ‘My Nagad’ option in the Nagad app and click on ‘Account Type’; the active account will then be converted into an Islamic account.

Through a Nagad Islamic account, customers can digitally pay their Zakat and all charitable donations (Sadaqah). In addition, travel and other expenses for the holy Hajj and Umrah can easily be paid through this account. Customers can also pay their Islamic life insurance premiums from home using this account. Furthermore, features such as daily essential Mas’ala (Islamic rulings), Hadith, prayer timings, and a Zakat calculator are available.