Ettehad supports Muslim communities and promotes the implementation of Islamic principles and business concepts in industries and economies throughout the world. It does this through dialogue, research, and by providing services supporting Islamic enterprise and innovation. The organisation currently has three divisions: Enterprise, Support and Research. Enterprise:
The Enterprise division adminis
ters a comprehensive application process which allows commercial and social entrepreneurs to submit their business ideas and social projects in accordance with our specific criteria. Business Plan templates are available from our website for applicants to download, complete and then submit to us. We assess the application’s financial viability and long-term economic impact to ensure that the plan is feasible and will generate direct or indirect employment. All business plans must be approved by our Islamic Supervisory Committee to ensure that the business concept, vision and implementation are fully compatible with Islamic jurisprudence and values. Successful applicants will be offered a formal proposal, which includes access to Islamic microfinance, up to a maximum of £10,000.00, and substantial business support, including company registration, legal, accountancy and consultancy services. The IEDO becomes an active partner with the successful applicant, and continues to provide support and oversight after the business has been established. This is commonly done through the establishment of a joint enterprise, via a Musharakah or Mudarabah agreement, where the parties share the profit and losses according to a predetermined ratio. The precise terms of the agreement are decided on a case by case basis and are tailored to maximise the benefits to the business. Support:
The Support division provides access to consultation, legal, accountancy and business support services, general information and answers to questions on islamic jurisprudence. This is available to entrepreneurs and companies looking to invest in and/or start an Islamic business. Interested parties are invited to contact us and we will provide support and assistance tailored to their specific requirements. Research:
The Research division strives to carry out ground breaking research into Islamic economics and finance and seeks to identify how these principles can practically be implemented in modern day economies and industries. Our research also focuses on identifying the causes of financial hardship across a variety of societies and countries and how these can best be alleviated through long-term and sustainable economic development, in line with Islamic jurisprudence, principles and values. The research is primarily carried out by our team of researchers and interns, overseen by a research coordinator. We also partner with other organisations, universities and academic institutes who share our aims and objectives. The organisation has a team of academics, economists and scholars, who review reports before they are published to ensure academic integrity and accuracy.
