I-Qistal yakha ungqimba lobuhlakani bokutshalwa kwezimali lwe-Shariah lwamasheya aseNigeria, ihlanganisa ukuhlolwa kwesitoko, idatha yezezimali, ukuqapha iphothifoliyo kanye nokuhlanzwa endaweni eyodwa. Kwaqala ngengxoxo phakathi kwabasunguli ababili ababengakwazanga ukuthola uhlobo lwethuluzi ababekholelwa ukuthi abatshalizimali abangamaSulumane eNigeria baludinga.
Ukuthenga amasheya aseNigeria sekulula kakhulu. Umtshali-zimali wezitolo angavula uhlelo lokutshala imali, axhase i-akhawunti, afune inkampani ku-Nigerian Exchange (NGX), bese ebeka i-oda kungakapheli imizuzu.
Nokho, kumtshali-zimali ongumSulumane, kuvame ukuba nombuzo owodwa ngaphambi kwenkinobho yokuthenga: Ingabe lesi sitoko siyi-halal? Impendulo ayilula njengokuhlola ukuthi inkampani ithengisa ini.
Umkhiqizi wesamente angasebenza embonini evumelekile kodwa athwale izikweletu eziningi kakhulu ezibangela inzalo. Inkampani yezokuxhumana ingase ithole ingxenye yemali engenayo ngenzalo. Inkampani yezimpahla zabathengi ingase ibe nenani elikhulu kumathuluzi abangela inzalo.
Ngisho noma inkampani idlula ukuhlolwa kokuthobela imithetho kule kota, isimo sayo sezezimali singashintsha uma ibuyekeza amabhuku ayo kwikota elandelayo. Ukuthola lokho kusho ukujula kakhulu kunentengo yesitoko.
Umtshali-zimali kungadingeka alande izitatimende zezimali zenkampani, asebenze emakhasini amaningi okudalulwa, athole imali ebolekiwe kanye nemali engenayo yenzalo, athole ukutshalwa kwezimali okungase kube nenzalo, abale izilinganiso zeShariah ezifanele, bese ebheka ukuthi noma iyiphi inzuzo etholwe ekugcineni idinga ukuhlanzwa.
Lokho kuningi okufanele ukwenze njengomSulumane ngaphambi kokuthenga amasheya, futhi kuze kube muva nje, abatshalizimali abangamaSulumane baseNigeria ababefuna into entsha kunohlu olubuyekezwa njalo babenamathuluzi ambalwa akhiwe endaweni aklanyelwe ngqo lowo msebenzi.
INigeria yayivele ine-NGX-Lotus Islamic Index, ekhomba ibhasikidi lamasheya ahambisana ne-Shariah futhi ihlelwa kabusha ngezikhathi ezithile. Okwakulahlekile kwakuwumkhiqizo ofunwayo lapho umtshalizimali ngamunye ayengahlola khona amasheya e-NGX, ahlole izinombolo ngemuva kwesinqumo futhi aqhubeke nokuqapha ukuhambisana ngemva kokutshala imali.
Leso sikhala yilapho iQistal yaqala khona.
Hlangana nabasunguli abakha ungqimba lobuhlakani bokutshalwa kwezimali lweShariah lwamasheya aseNigeria
UDhikrullah Ibraheem no-Oke Taofeek Deji bangabasunguli beQistal, ipulatifomu yobuhlakani bokutshalwa kwezimali yeShariah eyakhelwe emakethe yamasheya yaseNigeria.
Kwaqala ngephuzu elibuhlungu. UTaofeek wayekhala ngokungabikho komhloli wamasheya weShariah wesikhathi sangempela wezinkampani ezibhaliswe ku-NGX - into engadlula uhlu olungaguquki futhi ivumele umtshali-zimali ukuthi ahlole amasheya uma empeleni efuna ukuwathenga. Isikhalazo saphenduka ingxoxo phakathi kwabasunguli bobabili.
Yini okufanele iboniswe yipulatifomu yokutshalwa kwezimali yeShariah yaseNigeria? Ingabe abatshalizimali bangabona nje kuphela ukuthi inkampani idlulile, kodwa futhi nezibalo zezimali ezibangela leso sinqumo? Ingabe uhlelo lungabuyekezwa njengoba kukhishwa ama-akhawunti amasha enkampani? Futhi ngemva kokuba othile etshalile imali, ingabe ingaqhubeka nokubuka iphothifoliyo ukuze ithole izinguquko ekuthobeleni imithetho yeShariah?
Ubambiswano luhlanganise izinhlangothi ezimbili ezihlukene zenkinga. U-Ibraheem uhola ukuthuthukiswa kwenjini eyinhloko yokuhlola kanye nobuhlakani bokutshalwa kwezimali ye-Qistal: izinhlelo ezifaka imali yenkampani, zihumushe ukudalulwa okufanele, zibale izilinganiso zokuhlola futhi ziguqule lokho okufakwayo kube ulwazi olungasetshenziswa abatshalizimali.
UTaofeek uhola ngeShariah kanye nokuphatha, esiza ekuqinisekiseni ukuthi indlela yokusebenza, ukuhumusha kanye nezinqumo zomkhiqizo zihlala zisekelwe ezimisweni zezimali zamaSulumane okufanele zimelwe yipulatifomu.
Leyo nhlanganisela yaba yinto ebalulekile ngoba inselele yayinobuchwepheshe njengoba yayinjalo ngokomthetho.
Isofthiwe ingabala isilinganiso kahle futhi ikhiqize impendulo engalungile uma inani elingalungile lokubala libekwe njengesikweletu. Ngokufanayo, ukuba nendlela yeShariah enengqondo ngeke kuxazulule inkinga yokugcina amakhulu amaphuzu edatha yezezimali akhona emakethe yamasheya eshintshayo. I-Qistal kwadingeka yenze kokubili.
Ngesikhathi i-predecessor yayo, iMizan, yethulwa ngoJulayi 2026, yanikeza abatshalizimali baseNigeria indlela eyakhelwe endaweni yokuhlola amasheya e-NGX, ukuhlola isisekelo sezezimali sezinqumo zeShariah nokuqapha amaphothifoliyo ngokuhamba kwesikhathi. Kamuva iMizan yaba yiQistal njengoba abasunguli bandisa isifiso ngale kokuhlola umkhiqizo obanzi wokutshalwa kwezimali nobuhlakani.
Nokho, inkinga ababezama ukuyixazulula yahlala ifana: AmaSulumane aseNigeria angahlanganyela kanjani emakethe yamasheya ngaphandle kokukhetha phakathi kolwazi lokutshalwa kwezimali kanye nokuqiniseka ngesisekelo seShariah salokho abanakho?
Ukubonisa umsebenzi ngemuva kwesinqumo
Uma umtshali-zimali efuna inkampani ku-Qistal, uqala ngokuhlola ukuthi inkampani yenzani ngempela.
Amabhizinisi anemisebenzi yawo eyinhloko ewela ngaphansi kwezigaba ezingavunyelwe awaqhubeki ngisho noma ama-balance sheet awo ebonakala amukelekile. Izikhungo zezimali ezivamile, isibonelo, ziyahluleka esikrinini semisebenzi yebhizinisi, kuyilapho izinkampani eziyinkimbinkimbi kakhulu zingadinga ukuhlolwa okujulile ukuthi imali engenayo ivelaphi.
Izinkampani ezidlula esigabeni sokufaneleka zihlolwa ngokwemigomo yezezimali yesitayela se-AAOIFI. I-Qistal ihlola izinyathelo ezifaka phakathi isikweletu esithwala inzalo, imali kanye nezibambiso ezithwala inzalo, kanye nemali engenayo engavunyelwe.
Kodwa ingxenye ebaluleke kakhulu yomkhiqizo yilokho okungaphansi kwesinqumo. Abatshalizimali bangabona izibalo ezisetshenziswe ekubalweni, isikhathi sokubika ezivela kuso, imikhawulo efanele, kanye nolwazi lwezezimali oluvela emthonjeni olusekela ukuhlolwa.
Lokho kusobala kuhlosiwe, njengoba ukuhlolwa kweShariah akufanele kusebenze njengebhokisi elimnyama lapho umtshali-zimali ethola khona ibheji eliluhlaza futhi kulindeleke ukuthi athembe noma yini eyenzekile ngemuva kwalo.
Umtshali-zimali oqotho kufanele akwazi ukubuza ukuthi kungani.
Izitatimende zezimali zaseNigeria zinezinkinga zazo
Ukwakha umkhiqizo ngqo wemakethe yaseNigeria kuye kwaveza nenye inselele: idatha yezezimali ayifiki njalo ngezigaba ezihlelekile. Inani elibhalwe ukuthi “ukuboleka” ebusweni bebhalansi lingase lingalandisi indaba ephelele.
Amaphepha ezentengiselwano angabonakala ngaphakathi kwamanothi ezitatimende zezimali ajulile. Imali engenayo yezezimali ingaqukatha izingxenye eziningana ezidinga ukuhlukaniswa. Izinkampani zibika ukuthengiselana okufanayo ngendlela ehlukile, futhi okunye ukudalulwa kudinga ukuchazwa ngaphambi kokuba kuhlanganiswe nohlaka lokuhlola lweShariah. Le mininingwane ibalulekile ngoba ukuthola okufakiwe okungalungile kusho ukuthola isilinganiso esingalungile.
Amakhasi esitoko samanje e-Qistal axhumanisa izinqumo nesikhathi sezimali esiyisisekelo kanye nerekhodi lokuhlola, kuyilapho umkhiqizo wayo wephothifoliyo uklanyelwe ukuveza izinguquko njengoba ukufakwa okusha kanye nedatha kushintsha isimo sokuthobela imithetho senkampani.
Isifiso ukwakha ungqimba lwedatha yokutshalwa kwezimali yeShariah efanele endaweni engagcina isize abatshalizimali ngabanye kanye nezinhlangano ezidinga ulwazi oluhlelekile lokuthobela imithetho.
Ukuhlola kumane nje kuyisiqalo
Kukhona omunye umkhawulo wokuphatha ukutshalwa kwezimali kwe-halal njengenkinga yokusesha. Uma umtshali-zimali ekugcineni ethenga isitoko, isimo sishintsha kusukela ekuhlolweni kuya ekuqapheni.
Ake sithi umtshali-zimali uthenga amasheya enkampanini ngemva kokudlula izimfuneko zeShariah ezifanele, futhi ngemva kwezinyanga eziyisithupha, inkampani ikhipha esinye isitatimende sezezimali esikhuphula kakhulu imali mboleko yayo ebangela inzalo; umtshali-zimali angase angazi.
I-akhawunti yabo yokuhweba izobonisa inani elifanayo lamasheya. Iphothifoliyo yabo ingase ibe nenzuzo, kodwa akukho lutho olusedeshibhodini yokutshalwa kwezimali evamile oluklanyelwe ukubatshela ukuthi isisekelo seShariah abathenga ngaso inkampani ekuqaleni sishintshile.
Esikhundleni sokuphatha ukuthobela imithetho njengesinqumo esiphela lapho kuthengwa, abasebenzisi bangangeza izimpahla zabo futhi baqhubeke nokuziqapha njengoba izimali zenkampani zishintsha. Izitatimende zezimali ezintsha zingabangela ukuhlolwa kabusha, kuyilapho izimpahla ezidinga ukunakwa zingatholwa umtshali-zimali.
Bese kuba nokuhlanzwa
Inkampani edlula ku-Shariah screen ingase ithole imali encane engenayo engavumelekile. Kumnikazi wamasheya ongumSulumane, lokhu kudala omunye umthwalo wemfanelo.
Ingxenye yesabelo-mali esibangelwa yileyo mali engenayo kumele ihlanzwe ngokunikeza inani elifanele enhlanganweni yokusiza umphakathi. Kuzwakala kulula kuze kube yilapho umtshali-zimali ezama ukukubala; bese beqaphela isidingo senani lemali engenayo elingavumelekile, isisekelo semali engenayo esifanele, iphesenti lokuhlanzwa elivelayo kanye nesabelo-mali abasitholile ngempela.
Lapho kudingeka ukuhlanzwa, ipulatifomu iyakubona kanye nomphumela wokuhlola futhi isize umtshali-zimali ukuthi anqume inani elihambisana nokubamba kwakhe.
Umgomo uwukususa isidingo sokuba umtshali-zimali ashintshe phakathi kohlu lwesitoko, umbiko wonyaka, umshini wokubala kanye namathebhu amaningana esiphequluli ukuze nje aqonde ukutshalwa kwezimali okukodwa.
Ukwakha ungqimba olusha lwabatshalizimali abangamaSulumane baseNigeria
Amapulatifomu e-Fintech enze kube lula ukufinyelela amasheya. Ulwazi lwemakethe luhamba ngokushesha, futhi abatshalizimali abaningi bezitolo bangalandela imiphumela yenkampani, baxhase ama-akhawunti, futhi batshale imali ngaphandle kokuvakashela ihhovisi lomthengisi.
Kodwa-ke, ukwehlisa isithiyo sokuthenga impahla akuphenduli ukuthi leyo mpahla ifanelekela wonke umtshali-zimali. Kubatshali-zimali abanezimiso zokuziphatha, izinqumo zezimali ngokuvamile zinezithiyo ezingaklanyelwe ukubhekana nazo ingqalasizinda yokutshalwa kwezimali evamile.
I-Qistal ifuna ukuvala leli gebe. Ngaphandle kokuhlola nokuqapha iphothifoliyo, ithuthukisa ubuhlakani bokutshalwa kwezimali ezinkampanini ezithobela imithetho, izindaba zemakethe nezenkampani, ukuhlanzwa, i-zakat kanye ne-interface ye-AI lapho abatshalizimali bangaphenyisisa khona izinkampani kanye namaphothifoliyo azo.
Izinkomba zokuhlola amaqiniso
Lezi zinkomba zisekela izimangalo ezithinta isikhathi noma ezichaza isigaba ku-draft futhi zingasetshenziswa ngesikhathi sokuhlola amaqiniso okuhlela. Akudingeki ukuthi zivele esihlokweni esishicilelwe.
• Imibuzo Evame Ukubuzwa Nge-NGX-Lotus Islamic Index (NGX)
• Ingqikithi yokwethulwa kwe-Mizan/Qistal - Dhikrullah Ibraheem, Julayi 2026
