Amaanat Investment Holdings
BASELESS ARGUMENTS TO WRIGGLE OUT FROM THE HARAAM QUAGMIRE
In its ‘Shareholder communiqué’ the Amaanat entity proffered a futile attempt loaded with flapdoodle arguments to justify its continued operation in the haraam way it was and is currently functioning. The current Board of Amaanat states in its communiqué:
“Since it’s appointment, the Board has embarked on decisive measures to transform the company…”
This Board must firstly inform the Shareholders if it is Muslim or kuffaar. If it is Muslim, then it must understand and accept that it has no option but to submit the company to the Shariah. Its name is ‘Amaanat’ is Muslim sounding. It has professed to be an Islamic Shirkat venture. It has led Muslim investors to believe that it was or would be paying profit whereas in reality all dividends issued were in the category of Riba. It operated under Islamic nomenclature. But all of this ‘Islamic’ cover was baatil. Amaanat is thus under Waajib Shar’i obligation to wrap up its affairs immediately without delay in accordance with the demands of the Shariah.
The Board’s attempt to continue its haraam existence under protection of the law of Taaghoot is despicable and haraam. The factors listed by the Board in its communiqué are all in terms of kuffaar donkey laws which have no validity in the Shariah. It cannot bail itself out from the skunked ship nor extricate itself from the quagmire of haraam by seeking refuge and protection of the law of Taaghoot.
According to the Shariah, Amaanat is operating in baatil and haraam ways. It has absolutely no right to trade or engage in business dealings. It has to compulsorily close shop, and terminate the company in terms of the Shariah. There is no scope for its existence and operation according to the Shariah.
Amaanat Holdings was a baatil entity from its very inception. It was an entity of the Riba category. The ‘decisive measures to transform the company’ have no validity in the Shariah. One dead, fictitious donkey cannot be transformed into a living fictitious donkey.
In its communiqué the Board speaks of “The implementation of robust governance processes from first principles…” What are these ‘principles’? Its robust processes are not processes of the Shariah. Everything is a process of kuffaar donkey law.
Since the Board operates in terms of kuffaar laws, it has no understanding of the operation of the Shariah. Whatever ‘reputation’ the Board hallucinates it has, is baseless. It has absolutely no Islamic reputation. An Islamic reputation relies on observance of the Shariah. But the Shariah is an alien concept to this Board.
Uttering an extremely misleading claim, the Board states: “The new Board has made significant strides to operate in accordance with Shariah principles and continues to uphold the highest standards of integrity in its dealings.”
The “new” Board is old wine perhaps in a new bottle. Since it has brazenly claimed operation in accordance with Shariah principles, it is necessary for the Board to elaborate these “Shariah principles” to enable Muslims to scrutinize this baatil claim in the mirror of the Shariah.
The Board should also define its “highest standards of integrity”. A Board that operates in conflict with the Shariah is bereft of Shar’i integrity.
The Board further states: “The Amaanat Team has spent significant time and effort to stabilise the company”. The Board should understand that this Riba donkey cannot be stabilised. It has to be disbanded and terminated.
The financial status should be immediately assessed. If the assets are in excess of liabilities, the balance should be paid to all shareholders pro rata. If the liabilities exceed the assets, all shareholders have to suffer the loss.
Kuffaar law cannot save the skins of the Board and Executive leadership members. There is Hisaab and Kitaab in the Aakhirah where there shall be no escape and no temporary kuffaar law succour. Since all of these juhhaal are riba-oriented, their brains only function along kuffaar law ideas. Nothing in their communiqué complies with the Shariah. Their only option in terms of the Law of Allah Azza Wa Jal is to DISBAND.
10 Shawwaal 1445 – 20 April 2024