About Us

Our Mission

Al-Hilal commits to delivering comprehensive Islamic business solutions, aiming to make Islamic business practices the first choice for everyone, across the globe.

Our Vision

To be at the forefront of facilitating Islamic business practices, offering a full spectrum of Islamic financial services.

Our Story

Al Hilal: A Journey of Faith and Financial Excellence

Fortune Islamic Services was founded by Faraz Younus Bandukda in collaboration with Fortune Securities Limited

2011

Launch of Pakistan's first Shariah Compliant Equity brokerage house - Fortune Kaamil

2012

First Shariah Advisory assignment : PICIC Funds

2013

Successfully structured our first Sukuk assignment.

2015

Re-branded to Al Hilal Shariah Advisors after acquisition from Fortune Securities.

2016

First Shariah Advisory Company to receive license from Securities & Exchange Commission of Pakistan

2017

Established Al Hilal Securities Advisors, Pakistan's first shariah compliant Securities Advisory company.

2018

Advised on Masood Textile's Sukuk.

2020

Facilitated key private transactions.

2021

Launched Hilal Invest, a digital platform for Islamic mutual funds.

2022

Became leading Shariah advisor in Pakistan with 80% market share in Sukuk advisory.

2023

Advises on assets over Rs. 5 billion, with a team of 40 experts.

2024

Sponsors

Faraz Younus Bandukda, CFA

Faraz brings with him more than 16 years of experience in the field of Islamic Financial Structuring and Advisory. He has to his credit, initiation, and development of KMI – 30 the Shariah Compliant Equity Index of Pakistan Stock Exchange. Faraz earned his Bachelor’s in Computer Science from FAST-NU and a Master’s in Business Administration from the Institute of Business Administration, Karachi. He also has an Islamic Finance Certification from the Centre for Islamic Economics, Jamia Dar ul Uloom Karachi, and is a CFA charter holder from CFA Institute, USA.

Zaheeruddin Khalid, CFA

Zaheeruddin Khalid, CFA is a shareholder director of Al Hilal Shariah Advisors. Previously he was Managing Director and Head of Asset Management at Jadwa Investments, one of the largest investment management firms in the MENA region with a total AUM of USD 15bn and AUA of USD 4bn. He joined Jadwa in 2008 and was instrumental in the development of the firm that was founded in 2007. Before joining Jadwa, Zaheer worked for 8 years in several investment firms in Pakistan including Al Meezan Investments, Elixir Securities, AKD Securities, and First Capital. Zaheer is a CFA charter holder with an MBA degree and a BBA degree from IBA Karachi. He is also in an advanced stage of completing an 8-year course in Islamic jurisprudence

Qasim Lakhani, CFA

Qasim Lakhani has more than 24 years of experience in equity broking, fund management, and corporate planning. Currently the Chief Executive at Akik Capital, Qasim has worked for several large names in the capital markets of Pakistan in senior management positions. Qasim is an MBA from the Institute of Business Administration (IBA) Karachi and is a CFA charter-holder

Jafar Khan, CFA

Jafar Khan has more than 24 years of experience in fund management and equities in Pakistan as well as the MENA region. Jafar has previously worked with various brokerage houses in Pakistan and was the CIO of MCB Asset Management Limited till 2008 before embarking on his career in the Middle East. In the Middle East, he has worked for HSBC, Saudi Arabia, Morgan Stanley, and the Abu Dhabi Investment Authority. His last assignment was with GIB Capital as their Chief Investment Officer. He is currently serving as Executive Director at Al Hilal
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Management

Abdul Basit

ACCA - Head of Operations:

With seven years of experience, Abdul Basit Bandukda has been an integral part of AlHilal, contributing significantly to its growth and success. His core expertise lies in Shariah structuring and compliance. In addition, he possesses a strong skill set in managing the operations of Al Hilal’s various business verticals. His deep understanding of Islamic finance makes him a valuable asset to the organization.

Muhammad Ishaq Khan

MBA - Head of Investments and Strategy:

With a wealth of knowledge and expertise, Ishaq brings a dynamic perspective to our investment strategies. Holding a Bachelor of Business Administration (BBA), a Master of Business Administration (MBA), and currently pursuing the prestigious Chartered Financial Analyst (CFA) Level III certification, he exemplifies our commitment to excellence. With over a decade of experience in capital markets, Ishaq has honed his skills at renowned institutions such as Fortune Securities and Al Hilal. His keen insights and strategic acumen play a pivotal role in shaping our investment decisions and driving sustainable growth for our clients.

Moeenuddin Hashim

BBA - Head of Product

Moeenuddin Hashim is a seasoned Product Manager and Analyst, currently serving as the Head of Product at Hilal Invest. In his previous role as a Financial Engineer and Technical Product Lead at Seed Labs, Moeenuddin played a pivotal role in the development of Bluefin.io, a decentralized derivatives exchange. Previously he has served as an investment analyst at Providus Capital Ltd, and at Al-Meezan Investment Management Ltd. Moeenuddin holds a Bachelor’s degree from the Institute of Business Administration, Karachi.
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Shariah Committee

Mufti Irhsad Ahmad Aijaz

Chairman – Shariah Supervisory Council

Mufti Irshad Ahmad Aijaz is the chairman of the Shariah Supervisory Board of Al-Hilal Shariah Advisors. Mufti Irshad has to his credit developed several Shariah-compliant financial structures and has been a pioneer in the Islamic banking industry. He is currently also the chairman of the Shariah Board of the State Bank of Pakistan. Mufti Irshad completed his takhassus-fil-ifta from Jamia Dar ul uloom Korangi and has an MBA in finance from Iqra University

Mufti Najeeb Khan

Vice Chairman – Shariah Supervisory Council

Mufti Najeeb Khan is a Shariah board member of Al-Hilal Shariah Advisors. Mufti Najeeb graduated from Jamia Darul Uloom, Karachi where he obtained Shaha dat-ul-Aalamia (Masters in Arabic and Islamic Studies) and Al-T’akhassus fi al-Iftaa’ (Specialisation in Islamic Jurisprudence and Fatwa). He later went on to complete his Masters in Business from Monash Univer Mufti Najeeb and has over 18 years of research experience related to Islamic Finance and other Shari’ah-related subjects. He is also an experienced lecturer and trainer in the fields of Islamic Finance, Economics, Fiqh, Islamic Financial Laws, and General Islamic Science. He has been a Faculty member, – of Jamia Darul Uloom, Karachi since 1999 and has been associated with the Centre For Islamic Economics, Karachi, National Institute of Banking and Finance – SBP and Sheikh Zaid Islamic Research Centre – University of Karachi

Mufti Talha Saleem Kapadia

CSAA (AAOIFI), ACSI (UK) & MBA Finance

With over 18+ years of diversified experience in Islamic finance, including Shari’a advisory, Shari’a compliance, Shari’a audit, Shari’a structuring for investment banking, corporate banking, trade finance, Takaful, Corporate trainings and so on. Currently, he is heading the Shari’a audit function of Meethaq – Bank Muscat, since 2015. In addition, he is a Member of ISSC at SIRAT Islamic Banking – Habib Bank AG Zurich, UAE and a Member of Shari’a Council at Al-Hilal Shari’a Advisors (Private) Limited, Karachi, Pakistan.


Furthermore, he is a registered Shari’a Scholar at the Securities and Exchange Commission of Pakistan (SECP). In addition to this, before moving to Oman, he had been the SSB member at Bank Islami Pakistan Limited (one of a leading full fledge Islamic Bank in Pakistan) and a visiting faculty member at Iqra university, Karachi until 2015.

Mufti Muhammad Shakir

Siddiqui Member Shariah Board

Mufti Muhammad Shakir Siddiqui completed his research work in Islamic Jurisprudence with an outstanding record throughout his academic career. He has been associated with Pak-Qatar General Takaful Limited since 2009 and supervises Shariah Trainings and Shariah Compliance & Audits. He actively reviewed several business contracts and agreements with respect to Shariah and delivered Shariah trainings and lectures to participants at various platforms all over Pakistan.

Mufti Faisal Ahmed

Member Shariah Board

Faculty member Jamia tur Rasheed Member of Astronomy Dept Jamia-tur-Rasheed. Sharia Advisor at ORIX Modharba Cheif editor Khawateen ka islam Online speaker at DarseQuran.com Columnist, Editorial writer, frequent lecturer and presenter on seerat,astronomy and Economics, Previously an administrator and a sharia`a consultant at SCS(a sharia`a service for monetory problems) for 5years, Lecturer at Takhassus for Dawa in Jamia Darululoom karachi for one year. Guest lecture at PAF KIET and KIMS.

Hafiz Waqar Yousufi

Member Shariah Board

He did his Dars e Nizami from Dar ul Uloom Karachi. He has been serving as the Shariah Advisor for Timelenders.
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Our Partners

Alfalah Investments logo with a modern red abstract 'A' symbol and black text, representing a leading financial investment company in Pakistan
UBL Fund Managers logo with tagline "Savings | Mutual Funds | Advisory" in navy and gray colors
Al Meezan Investments logo with a purple and green emblem and text reading "Al Meezan Investment Management Ltd

Your trusted partner in Islamic finance solutions.

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