New model rules and resources have been created to support communities to run Shariah compliant community share offers.
In partnership with Mufti Faraz Adam at Amanah Advisors, the Community Shares Unit at Co-operatives UK has developed a framework and guidance for Shariah Compliant community share offers.
These specific multi-stakeholder Co-operative and Community Benefit Society models make community shares accessible to Muslim communities in the UK.
We are looking to work with interested businesses or groups who think the model may align with their mission and finance requirements. The below webinar ran in December 2022 to further detail the guidance on the models and underlying principles.
Shariah compliant community shares guidance
Our registration guidance for Shariah Compliant Community Shares includes Model Description Sheets for the multi-stakeholder Co-operative and Community Benefit Society models. It also covers further areas of consideration when developing these offers.