Pegasus Agriculture Announces Shariah Compliance
DUBAI, UAE, June 7, 2016 /PRNewswire/ —
International hydroponic experts Pegasus Agriculture are announcing that their Hydroponic Investment Product is now officially shariah compliant. Pegasus Agriculture has been issued a certificate from the Shariah Supervisory Board (SSB) as of June 3rd, 2016. The SSB made its official pronouncement after reviewing all of Pegasus Agriculture’s contracts, literature, and associated processes. Mr. Mahmood Almas, Chairman of Pegasus Agriculture, is “proud to be able to say that we adhere to these important Islamic principles,” and is particularly pleased that the news has come “in time for the Holy month of Ramadan.”
Shariah law is derived from the teachings of both the Holy Quran and the Hadith. It is often applied and used to aid in the governance of many regions throughout the Middle East, and can play a role in a variety of areas, including both civil and commercial law.
In the commercial realm, shariah law forms three principles that differentiate Islamic finances from the rest of the world. The principles govern the prohibition of interest, the sharing of profits and losses, and a prohibition against uncertainty and excessive speculation. Currently, less than 1% (http://www.pwc.com) of global financial assets are shariah compliant.
About Pegasus Agriculture
Pegasus Agriculture is one of the leading owners and operators of hydroponic farming facilities in the Middle East and North Africa (MENA). Their head office is strategically located in Dubai, U.A.E. and serves as the headquarters for their global growing and distribution network.
With over 150 years of combined market experience, Pegasus Agriculture leads the MENA region in its goal to attain independent food security.
For more information, please visit http://pegasusagriculturegroup.com/
Pegasus Agriculture Contact
+971 4 818 8300