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Fortune Islamic Services is a subsidiary of Fortune Securities Limited providing Islamic Business Support Services to shariah conscious businesses. It is aimed at providing shariah advisory services bridging the gap between shariah scholars and Business.


To excel and lead in providing support services to industry and individuals with regards to Islamic business practices meeting all the needs for financial advisory, trade consultancy, financial structuring and training services provided in accordance with the guidelines of Islamic Shariah.


Fortune Islamic Services is dedicated towards providing Islamic business solutions to clients across the industry and to make Islamic business the solution of first choice for everyone.

Shariah Compliant Equity and Commodities Brokerage

Shariah Compliant brokerage operations of Fortune Securities are managed by Fortune Islamic. Providing shariah guidelines, shariah audit and support services. Services also include identification and screening of equity securities for eligibility into shariah compliant investable universe.

Shariah Advisory and Technical Support for Islamic Mutual Funds

Services include shariah structuring of Islamic mutual funds, development investment policy, shariah guidelines, monitoring and shariah compliance and shariah approvals. Currently we are shariah advisors to

  • PICIC Asset Management
  • ABL Asset Management
  • PRIMUS Investments

Shariah Structuring and Business Transformation Services

Shariah Audit and Compliance Services


We are engaged in providing training services in the following areas

  • Islamic Finance
  • Financial modeling
  • MS Office and MS Project
  • Project Management
  • Sales Force Management 

GIPS Compliance Advisory Services

We are the country partners of the world’s largest GIPS compliance advisory firm ASHLAND and Partners based in USA. We aim at providing consultancy services to investment managers in providing GIPS compliant performance reports. We also provide 3rd party verification services for GIPS compliance claims by Investment Managers.

Mufti Irshad Ahmad Aijaz – Chairman

Mufti Irshad Ahmed Ejaz is the Shariah Advisor of Fortune Islamic Services and also serves as the resident Shariah Advisor of Bank Islami Limited. Mufti Irshad has to his credit development of several Shariah Compliant financial structures and has been a pioneer in the Islamic banking industry. Further he is a member of the Shariah Advisor’s forum of the State Bank of Pakistan as well as committee for development of shariah standards of conversion of conventional financial institutions to Islamic financial institutions. Mufti Irshad also heads the task force for the implementation of islamic finance in the area of agriculture and farming finance facilities. Mufti Irshad completed his takhassus fil ifta from Jamia Dar ul uloom Korangi and has an MBA in finance from Iqra University.

Mufti Ehsan Waqar Ahmed

Mufti Ehsan Waquar Ahmad holds Takhassus fil Fiqh (Mufti) from Jamia-tur-Rasheed besides qualification in Dars-e-Nizami. He has also done Masters in Business Administration (MBA) with majors in Finance from IoBM (CBM) and Masters in Economics from University of Karachi.He is also pursuing his LLB from Karachi Univeristy.  Mufti Ehsan serves on the shariah board of National Bank of Pakistan and his areas of interest includes liability side banking products and Takaful. He is also a member of Technical Committee of ICAP for Accounting Standards for Islamic Financial Institutions.   Mufti Ehsan has been teaching Fiqh, and Fiqh-ul-Muamlaat at Jamia-tur-Rasheed

Mufti Zeeshan Abdul Aziz

Mufti Zeehan Abdul Aziz is a recent graduate of the Takhassus fil iftaa of Jamia Dar ul Uloom Karachi and specializes in the field of Islamic economics. Besides his association with Fortune Islamic, he serves on the shariah board of several modaraba management companies.

Faraz Younus Bandukda

Chief Executive

Faraz brings with him vast experience in the field of Islamic Financial Structuring and Advisory.  Previously he was engaged with Al Meezan Investments leading their Product Development and Shariah Compliance team.  He has to his credit, initiation and development of the Shariah Compliant equity Index managed by the Karachi Stock Exchange by the name of KMI 30 and has remained on board the Index policy committee for 3 years since its inception in 2008. Faraz also has to his credit development of first ever islamic equity and commodity brokerage operations in Pakistan. Faraz did his Bachelors in Computer Science from FAST-NU and Masters in Business Administration majoring in Finance from IBA, Karachi. He also has an Islamic Finance Certification from Centre for Islamic Economics, a division of Jamia Dar ul Uloom Karachi and is a CFA Level III candidate from CFA Institute, USA. He is also pursuing the Islamic Finance Qualification (IFQ) from Securities and Investment Institute, UK

Muhammad Qasim Lakhani, CFA


Qasim Lakhani has 13 years of experience in equity broking, fund management and corporate planning.
Qasim started off his career with equity research in First Capital ABN-AMRO Equities, from where he moved on to join JP Morgan Pakistan (then Jardine Fleming Pakistan Broking) on the international sales desk, servicing foreign institutional investors. Subsequently, he worked for top-tier names like Engro Chemical (corporate planning) and PICIC (equity portfolio management), before moving onto Elixir Securities Pakistan (Elixir).  During his stay at Elixir, Qasim headed Elixir’s Research Department, was involved in the preparation of business plan / study of asset management business for a large business Group of Pakistan, and later also headed Elixir’s Sales Desk. Qasim is an MBA from the Institute of Business Administration (IBA) Karachi, and is a CFA charter-holder.