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We have a sincere and dedicated team of consultants who continuously monitor the stock markets to generate profits for you, without compromising on Shariah by avoiding any dealings in companies involved in:

production and sales of alcohol,

production and sales of tobacco,

production and sales of vulgar entertainment

lending and borrowing on interest (banks and finance companies)

There are some financial parameters required for Shariah compliance like:

Debt to Assets:   Exclude companies for which Total Debt divided by Trailing 12-Month Average Market Capitalization (TTMAMC) is greater than or equal to 33%. (Note: Total Debt = Short-Term Debt + Current Portion of Long-Term Debt + Long-Term Debt)

Liquid Assets to Total Assets:   Exclude companies for which the sum of Cash and Interest-Bearing Securities divided by TTMAMC is greater than or equal to 33%.

Receivables to Assets:   Exclude companies if Accounts Receivables divided by TTMAMC is greater than or equal to 33%. (Note: Accounts Receivables = Current Receivables + Long-Term Receivables). receivables (current + long term) should not be more than 45% of the total assets

It is often understood by people at large that Stock Exchanges are Gambling Dens and thus an unethical avenue for investment. This understanding is flawed, if we consider the criteria of investments listed above and the fact that any form of speculative trading swing trading, margin trading, day trading, short selling or trading in derivatives is prohibited. In fact every investment has to done on the basis of the fundamental analysis of a company and its activities.

IDAFA (iz’aafah) means multiplying or doubling. As the name suggests, our main concern at Idafa Investments is to create wealth for you, but we take on the additional responsibility of helping you to make money – the shariah way!

Investing in Equity Shares – the Shariah Way!

We offer Equity Share Broking services since 1994 on Indian Exchanges. We screen all the listed companies based on the Shariah guidelines and do not deal in the ones involved in Haraam businesses like production and sales of alcohol, tobacco, obscene entertainment, banking / finance companies and companies involved in operations that are detrimental for our environment and ecosystem.

We also follow guidelines offered by Shariah scholars and screen companies on the basis of some financial ratios like ‘Debt to Market Capitalisation’, ‘Liquid Investments to Market Capitalisation’ and ‘Receivables to Market Capitalisation’. If we find the companies to be extremely stretched on these financials, we disallow our customers to deal in them. We host the complete list of shares with its Shariah Compliance Status on

It is commonly understood that investing in Equity Shares is like Gambling, but considering the compliance criteria mentioned above and the fact that speculative trading is prohibited leads one to the correct perspective. Investment in equity shares should be done based on fundamental analysis of a company and not on the basis of tips and rumours.

Recently we introduced internet trading and have joined hands with Angel Broking Ltd. to offer better services to our customers. We invite you to invest any surplus money in equity shares by starting an investment account with us to reap the benefits from equity investments.

Feel free to contact us for appropriate financial solutions or queries related to your investments – the Shariah Way!

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Name of the Branch


Head Office


Registered Address:


Mimson House, 2nd Floor,
92, Lokmanya Tilak Marg,
Mumbai 400003.


Phone no


+91 22 23438533




Name of the Branch


Mira Road Branch

Contact Person



Afroz Vasaya




Swagat Towers, Opposite Laxmi Park, Lodha Road, Naya Nagar, Mira Road (E), Dist Thane 401107

Phone no


91 22 28127394

Email Id




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