How to Shari’ah-compliantly Invest in the Philippine Stock Market


Chapter 1: What is investing? Why, when should and where can I invest?

Chapter 2: What is the stock market, stock market investment, and why should I invest there? What is the Philippine Stock Exchange (PSE)?

Chapter 3: Is it possible to shari‘ah-compliantly invest in the stock market? How about in the Philippine stock market? What is Shari‘ah, by the way? What is the place of the financial system in the Shari‘ah framework? What is Islamic banking and what are the modes of finance? What Islamic mode of finance is applied in stock investment? Are there shari‘ah-compliant securities or companies in the Philippine stock market? What are the advantages of investing in the shari‘ah-compliant securities? What is the methodology for identifying these shari‘ah-compliant securities?

Chapter 4: How can I do such shari‘ah-compliant investing in the Philippine stock market? What are the steps? What is a stockbroker and why do I need it to invest in the Philippine stock market? What is a trading account? How to open a trading account and fund it? How to buy stocks (and sell later)? What tips can I follow in each of these steps?

Chapter 5: After doing the shari‘ah-compliant investing, what are the next things I should do? What are the remaining questions I may have? And more importantly, what are the right answers to those questions?

This book in your hand is exactly intended to offer you on a silver platter the answers to these questions!

Aside from providing a proper mindset for investing and an overview of the Islamic finance and investment principles, I will walk you through each of the steps in the stock investment process. In the end, our aim is twofold: (1) to remove the common misconception that stock investment – let along Islamically sanctioned one – is rocket science and (2) to make your investment journey a walk in the park, so to say, insha’ Allah.


Praise for How to Shari‘ah-compliantly Invest in the Philippine Stock Market

“As I was browsing through the pages of the manuscript during my travel transits and other interval periods, I came to realize that this is the first written guide, as far as I know, on Islamically permitted investing in the Philippine stock market. Congratulations, Mansoor, and I look forward to reading your other titles on entrepreneurship, investment, and Islamic finance in the near future! As always, your storytelling style of writing and sharing of personal insights and experience on the subject at hand are simply entertaining.”

––Rosslaini J. Alonto

Director General

Ministry of Trade, Investments and Tourism (MTIT)

Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)


“Right at the heart of Shari‘ah Finance is the stewardship (khilafah) of wealth borne out of legitimate trade, asset-based and market-linked investments (e.g., securities) as underscored within the context of mudarabah (profit-sharing) between the financial institutions and customers, thereby emphasizing the importance of social and ethical benefit that it brings to the society in general. Dr. Mansoor Limba has succinctly made it clear in this book that halal wealth creation is communal and spiritual in nature as contained in its chapters, and that managing one’s personal finances alone is not sufficient to ensure that gharar (risk) and maysir (gambling) associated with acquiring securities are avoided. This book can help both Muslim and non-Muslim customers in determining the existing Shari‘ah-compliant securities and companies in the Philippines that are duly registered under the Philippine Stock Exchange, Inc. (PSE), as well as understanding the procedures associated with qualifying the same as a form of socially responsible investing consistent with the Shari‘ah principles. This book further encourages the pursuit of halal inclusive growth stemming out of economic trust and relationship between financial institutions and customers, thereby promoting strong corporate governance and social responsibility.”

––Asst. Prof. EUGENE M. BIJE, DBA

Head, BS Entrepreneurship Program

College of Business Administration

University of Southeastern Philippines


“It’s hard enough to learn Finance and Investing; it gets doubly so when you do not even know where to begin. That is what I respect the most about Mr. Limba’s efforts in creating this book. Good books about Finance have authors that explain the basics properly. Great ones have authors that live it. Mr. Limba’s actual experience in investing, coupled with the copious amounts of Research he dedicates to this subject matter, is sure to help anyone reading this book. The fickle nature of the investing world rewards those who actually learn and do it. Mr. Limba does both. I am quite certain that once you have finished this book, you will feel the same.”

––Roberto Marco N. Samson, MBA, CSR, CIS, CTP, CFMP

Section Head, Mindanao Business Development

First Metro Securities Brokerage Corporation


“Coming from the human development perspective, I have always believed progress should be seen as something that is integral, which means it must be able to bridge culture, tradition, and the philosophy

of peoples in a world that is diverse but inevitably interconnected by knowledge. One key area that needs to be developed in Mindanao is Islamic finance. The Philippine Stock Market, which is intimately linked to the global nature of money or capital, is yet to play a key role in unlocking the vast potential of the island and its people as the Bangsamoro Region gears toward contributing in a significant way to the country’s economic growth after many years of conflict. This excellent book by Dr. Mansoor Limba explains the principles, fundamental concepts, and techniques, including practical applications of a Shari‘ah-compliant investing in the stock market. The book provides a comprehensive overview of market principles and rules, the steps in buying and trading stocks, with vivid examples and figures, precisely the tools needed to take advantage of what global finance can offer to Mindanao. This is an innovative tool written by a scholar, philosopher, and investment guru put into one.”

––Prof. Christopher Ryan B. Maboloc, PhD

Cofounder, Social Ethics Society (SES)


“This book is certainly a must-read for any aspiring traders – Muslim and non-Muslim investors – who would like to explore a safe approach to achieve their financial goals through understanding the advantages of investing their money in Shariah-compliant investments and securities in the market. It’s a step-by-step guide on how to build not only one’s financial wealth but also spiritual wealth by engaging in halal investments and ensuring halal earnings.”

––Atty. Fatmah Zahra C. Amil, CPA

Chief Accountant

Ministry of Trade, Investments and Tourism (MTIT)

Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)


“Most OFWs when asked, ‘What’s next after your contract ends?’ would answer, ‘Well, I have a small amount of money to start my own business.’ Unfortunately, a lot of them haven’t understood that successful businesses aren’t born overnight. It takes a lot of hard work and years of failure to finally get the right formula. The stock market gives you an opportunity to own part of the most admired, most recognized, the best, and the brightest names in the industry. Imagine partnering yourself with the Ayalas and other Big Names through their shari‘ah-compliant stock offerings. This book teaches you the easiest and simplest way to invest in their businesses.”

––Omar B. Sazon, Overseas Filipino Worker and Stock Investor

Dubai, United Arab Emirates


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