JazzCash launches Sharia-based investment initiative Salaam Investments

One of notable features of Salaam Investments app is that users are shown transparent profit margins
An undated image. — Apple App Store

An undated image. — Apple App Store

In a remarkable series of events, JazzCash, in collaboration with Salaam Family Takaful Limited, has launched Salaam Investments, Sharia-compliant investments that allow JazzCash users to invest and generate revenue passively.

Citing a press release on Tuesday, the initiative offers 13 million JazzCash users an opportunity to engage in investment options approved by Islamic Sharia, enabling them to make their revenue sources without worrying about its validity.

“With Salaam Investments, we aim to create opportunities for individuals to invest in ways that align with their values while contributing to their financial well-being. Investments are a powerful tool for reducing poverty —they provide individuals with the means to manage economic shocks, invest in their futures, and improve their quality of life,” said JazzCash President Murtaza Ali.

Under Salaam Investments, users will be able to establish investment limits and goals, obtain daily profit disbursements, and withdraw investments whenever necessary.

Regarding users' safety and privacy concerns, Salaam Investments is also complimented by accidental insurance coverage, which takes effect upon the 20% completion of their investment target.

It's worth noting that Salaam Investments has been introduced through a mobile application with a user-friendly interface and a facilitating investment experience.

One of the notable features of the Salaam Investments app is that users are shown transparent profit margins when setting their investment goals.