Specialist Committee: Investment

Mr. Suliman Noor Mahomed (Solly Noor) President +27832542293 solly@sollys.co.za
Mr. Haroon Karim Chairman BOT +971553654393 haroonkarim@aol.co.uk
Mr. Mahmood Shaikhani Deputy Secretary General +971529222001 ms@memon.ae
Mr. Ashraf Satar Vice Chairman BOT +94777372480 ashraf@fergasam.com
Mr. Farook Kassim Assistant Secretary BOT +97144375600 farook.kassim@albogari.com

Scope/terms of responsibilities

  1. Custody of all Trustee Fees of WMO at Central and Regional Level and authorize the deployment/use of the funds on the delegated authority of the Board of Trustees
  2. Oversight of all Non Zakath Funds of WMO and allocation of these funds for Overhead and Investments
  3. Quarterly Review of all Investment of the WMO and make necessary adjustments to ensure optimum return on the Investment while ensuring Capital Protection
  4. Appoint of Agents for the proper management of Immovable assets of WMO for the care& protection of these assets, optimize returns, minimize capital erosion and institute legal action (where necessary) etc
  5. Appointment of Investment Managers to manage the Funds, setting their terms of contract, and limits on delegated authority
  6. Authority to decide on different classes of assets permitted for deployment of WMO Funds and thereafter set limits of investments in different classes of assets, minimum returns etc
  7. Ensure all Investments of WMO Funds are Sharia Compliant