Yes. A non-Muslim investor should generally be able to buy the Dangote Refinery IPO shares if they meet the eligibility requirements in the approved prospectus. Saying the shares are being offered according to Sharia principles does not automatically mean the investment is restricted to Muslims. WhaRead more
Yes. A non-Muslim investor should generally be able to buy the Dangote Refinery IPO shares if they meet the eligibility requirements in the approved prospectus. Saying the shares are being offered according to Sharia principles does not automatically mean the investment is restricted to Muslims.
What Mr. Bintube’s statement likely means
When he says the shares will be sold according to Sharia principles, he is likely referring to things such as:
The nature of the company’s business must meet Islamic investment requirements.
Interest-based financing/earnings and certain prohibited transactions are subject to Sharia screening.
The structure of the shares and investment process should comply with relevant Islamic finance principles.
So, being a Christian, traditionalist, atheist, or otherwise non-Muslim does not by itself disqualify you from buying the shares.
One important caution: the final approved prospectus is the document that determines the exact eligibility requirements. The official Dangote IPO site specifically advises investors to read the prospectus before subscribing. …. 🤷🤷
Can Non-Muslim Investors Buy Dangote Refinery IPO Shares on the NGX?
Yes. A non-Muslim investor should generally be able to buy the Dangote Refinery IPO shares if they meet the eligibility requirements in the approved prospectus. Saying the shares are being offered according to Sharia principles does not automatically mean the investment is restricted to Muslims. WhaRead more
Yes. A non-Muslim investor should generally be able to buy the Dangote Refinery IPO shares if they meet the eligibility requirements in the approved prospectus. Saying the shares are being offered according to Sharia principles does not automatically mean the investment is restricted to Muslims.
What Mr. Bintube’s statement likely means
See lessWhen he says the shares will be sold according to Sharia principles, he is likely referring to things such as:
The nature of the company’s business must meet Islamic investment requirements.
Interest-based financing/earnings and certain prohibited transactions are subject to Sharia screening.
The structure of the shares and investment process should comply with relevant Islamic finance principles.
So, being a Christian, traditionalist, atheist, or otherwise non-Muslim does not by itself disqualify you from buying the shares.
One important caution: the final approved prospectus is the document that determines the exact eligibility requirements. The official Dangote IPO site specifically advises investors to read the prospectus before subscribing. …. 🤷🤷