,F- "-' ft

. \*ffird

-Shariah Advisors-

*,**.i*-.y*jl $ -W?l **# hs&*. ux:{,i+ , S*"slr* } *dx.*.}(*}l *,rJ dJ ,*,,,.}E t

"rrr ,,;j{*&ry$ *tL***} ; *i *:"sJanuary 01,2017

SHARIAH APPROVAL FOR INVESTMENTS OF FUNDSUNDER MANAGEMENT OF ABL ASSET MANAGEMENT

LIMITED

Islamic Unit Trusts managed by ABL Asset Management Limited (ABLAMC) are based on theprinciple of Investment Agency Contract (Wakalat-ul-Istismar) and have been designed strictly inconformity rvith the rules of Islamic Shariah.Under the investment agency contract, the unit holder on investing his ntoney becomes the principal(Muakkil) and ABLAMC acts as the agent (Wakeel) to manage the investrnents of the Muakkil.All investments of the follorving unit trusts:

. ABL Islamic Income Fund

. ABL Islamic Stock Fundo ABL Islamic Financial Planning Fund. ABL Islamic Dedicated Stock Fund

are invested in Shariah Conrpliant contracts on behalf of the investor(s) under the guidance of theShariah Advisor. All rnechanisms and procedures of investments along with the constitutivedocuments of the Unit Trusts have been vetted by the Shariah Advisor for compliance rvith Shariahguidelines and principles. Moreover, the investrrent strategies and operations of the funds are regularlymonitored for their shariah compliance to ensure strict conformity with shariah guidelines.

Hence it is resolved that it is permissible to invest in Islarnic ur-rit trusts managed by ABLAMC asthese are being rnanaged as per Shariah guidelines.

rL I *r;'r , *i.*" l* *l* u:l* *f* ,

ilal Shariah Advisors (Pvt.) Limited.

A[-fIilal

Al-Hilal Shariah Advisors (Pvt) Limited(Formerly Fortune lslamic Services (Pvt) Limited)

3rd Floor, Razi Tower, BC-13, Block No. 9, KDA Scheme No. 5, Clifton, Karachi.

Younbs#andukdaExecutive Officer

Tel: +92.21.3530.9'1 1 9, Fax: +92.21.3530.91 56, Web:www.athilalsa.com

@Al-HiIaI

-Shariafi fiflyi56ys-

*,,^ g

-t rr ltsfr.ir.Ar"rfl

1.n5al*;*$l I "h*"k*,".* .s,[o ,"d-*t g e]*ie# !.dr-*l{,*fl w, * ,r."'*rt

'r8, !.{"1**3.*i "rtn*-"l 5 *i ,r**January 01,2017

SHARIAH APPROVAL FOR INVESTMENTS OF FUNDSUNDER MANAGEMENT OF ABL ASSET MANAGEMENT

LIMITED

Islamic Unit Trusts managed by ABL Asset Management Limited (ABLAMC) are based on theprinciple of Investment Agency Contract (Wakalat-ul-Istismar) and have been designed strictly inconformity with the rules of Islamic Shariah.Under the investment agency contract, the unit holder on investing his money becomes the principal(Muakkil) and ABLAMC acts as the agent (Wakeel) to manage the investments of the Muakkil.All investmentd"bf the following unit trusts:

e ABL Islamic. ABL Islamico ABL Islamice ABL Islamic

Income FundStock FundFinancial Planning FundDedicated Stock Fund

are invested in Shariah Compliant contracts on behalf of the investor(s) under the guidance of theShariah Advisor. All mechanisms and procedures of investments along with the constitutivedocuments of the Unit Trusts have been vetted by the Shariah Advisor for compliance with Shariahguidelines and principles. Moreover, the investment strategies and operations ofthe funds are regularlymonitored for their shariah compliance to ensure strict conformity with shariah guidelines.

Hence it is resolved that it is permissible to invest in Islamic unit trusts managed by ABLAMC as

these are being managed as per Shariah guidelines.

y,t* I c:;41 ** * ,& uil, *J., g

For and on behalf of AI-Hilal Shariah Advisors (Pvt.) Limited.

Dr. Mohsin NaqviShariah Advisor

Al-Hilal Shariah Advisors (Pvt) !-imited(Formerly Fortune lslamic Services (Pvt) Limited)

3rd Floor, Razi Tower, BC-13, Block No. 9, KDAScheme No. S, Clifton, Karachi.

Faraz Vounus Bd-ndukdaChief Executive Officer

M

Tel: +92.21.3530.91 1 9, Fax: +92.21.3530.91 56, Web:www.alhitatsa.com

W*A -- &

"\!l{}-

rllr t i***e,,ryi ,**A*-*l g elT ,***

SHARIAH APPROVAL FOR INVESTMENTS OF FUNDSUNDER MANAGEMENT OF ABL ASSET MANAGEMENT

LIMITED

Islamic Unit Trusts managed by ABL Asset Management Limited (ABLAMC) are based on theprinciple of Investment Agency Contract (Wakalat-ul-Istismar) and have been designed strictly inconformity with the rules of Islamic ShariahUnder the investment agency contract, the unit holder on investing his money becomes the principal(Muakkil) and ABLAMC acts as the agent (Wakeel) to manage the investments of the Muakkil.All investments"of ihe following unit trusts:

. ABL Islamic Income Fundr ABL Islamic Stock Fundo ABL Islamic Financial Planning Fundo .dBL Islamic Dedicated Stock Fund

are invested in Shariah Cornpliant contracts on behalf of the investor(s) uncler the guidance of theShariah Advisor. All rnechanisms and procedures of investments along with the constitutivedocutnents of the Unit T'rusts have been vetted by the Shariah Advisor for compliance with Shariahguidelines and principles. Moreover, the investnrent strategies and operations of the funds are regularlymonitored for their shariah compliance to ensure strict conformity u,ith shariah gLridelines.

Hence it is resolved that it is permissible to invest in lslamic unit trusts rnanaged by ABLAMC asthese are being managed as per Shariah gLridelines.

rL : J;L I I * L* "p .-U'*L ,

For and on behalf of Al-Hilal Shariah Advisors (Pvt.) Limited.

@AI-HiIaI

-$[n1inh Advisors-

Muflr Syed ZahidShariah Advisor

,".mH:,"

AI-Hilal Shariah Advisors (Pvt) Limited(Formerly Fortune lslamic Services (Pvt) Limited)

3rd Floor, Razi Tower, BC-13, Block No. 9, KDAScheme No. 5, Clifton, KarachiTel: +92.21.3530.9119, Fax: +92.21.3530.9156, Web:www.alhilalsa.com

Chief Executive Officer07-Fe)-%ry