OSAS™ · Onike Shariah Advisory Standards

Standardised Shariah Approval Dossiers

OSAS™ is the advisory subset of OFIS™ dedicated to Shariah review, approval memoranda and transaction layout sheets for each core Islamic finance contract.

Standards

OSAS™ Catalogue

OSAS-MUR™

Murābaḥah Approval Standard

مُرَابَحَة · Cost-plus Sale

Asset financing — enabling clients to acquire identified goods or assets through deferred payment without recourse to interest-based lending.

Open standard

OSAS-MUD™

Muḍārabah Approval Standard

مُضَارَبَة · Profit-sharing Partnership

Equity-based fund mobilisation, investment accounts, fund management mandates and SME / venture financing.

Open standard

OSAS-IJM™

Ijārah Muntahiyah bi al-Tamlīk Approval Standard

إِجَارَة مُنْتَهِيَة بِالتَّمْلِيك · Lease Ending with Ownership Transfer

Long-tenor asset financing — real estate, equipment, vehicles, aviation and infrastructure — where ownership transfer is the client's economic objective.

Open standard

OSAS-WAK™

Wakālah Approval Standard

وَكَالَة · Agency Contract

Investment-account management, takāful operator-participant relationship, liquidity placements, syndicated financing and corporate advisory mandates.

Open standard

OSAS-IST™

Istisnāʿ Approval Standard

اِسْتِصْنَاع · Manufacture-to-Order Contract

Construction finance, infrastructure projects, manufacturing-to-order, ship-building, aircraft assembly and bespoke equipment.

Open standard

Looking for structuring & governance?

OFIS™ is the umbrella framework hosting contract-structuring sub-frameworks (MUR, MUD, IJM, WAK, IST) and governance frameworks (SGB, SRB, SPA, RISK, COMPLY, SCORE).

Explore OFIS™

Advisory Subset of OFIS™

OSAS™ · Onike Shariah Advisory Standards

Reviewed and Approved by Abdul-Azeez Onike Morufu — Registered Shariah Adviser, Securities Commission Malaysia