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Terms Of Use

Terms Of Use

The Definitions and the Guidelines below (together, the "Terms") set out the terms of engagement and rights and obligations between TASIS and those desiring to engage with TASIS through the TASIS website. The implication of using the Website is that the user agrees to the Terms.

1. Definitions

In these Terms:

"Guest" means a visitor to the Website who has neither created an account nor subscribed to a service with TASIS;

"Registered User" means a person who has created an account with the Website;

“Subscriber” means a Registered User who has subscribed to a Subscription Service;

"TASIS Content" means shariah compliance and purging status, discussion, logic, guidelines, norms, parameters, rules, data, derivations, computations and results (based on Shariah Board rulings, TASIS in-house produced research and commercially acquired data) relating to shariah compliance of shares and purging of interest and/or other non-ethical income generated in the process of stock investment, and general and financial news, articles, notes, research material, blogs, FAQs, queries and their responses, and other textual, graphical material and schematic and other types of explanatory diagrams, audio, audio-visual, digital, photographic, print or other content that we may produce and publish on the Website, produced by either TASIS or its staff, associates or third parties who may have licensed or permitted us to use or display the same.

"TASIS Intellectual Property"means all intellectual property and rights to intellectual property without limitation, held anywhere, whether registered or not, including any application or right of application for such rights (including patents, copyright, databases, designs, trademarks, and other rights);

“Third Party Content” means articles, data, comments, news, reports or other audio, audio-visual, data, digital, graphical, photographic, print, schematic content that that has been published by third parties;

"Trial Period" means a period during which the Subscriber can access a Subscription Service without paying the applicable charges. Currently, TASIS provides Registered Users a one-time Trial Period of a calendar week during which the User can query the compliance status of any 5 shares listed on BSE/NSE free.

"Use" means any use whatsoever and includes, without limitation, viewing, storing, reproducing, displaying, publishing, distributing, broadcasting and/or creating derivative works;

"Website" means the website at "" or any associated or successor website operated by TASIS from time to time.

2. Guidelines

Ownership, Content and Use

TASIS owns the Website and the Intellectual Property Rights of the Website and the Content of the Website. The Content of the Website is only for viewing and solely for personal information and knowledge and not for investing or trading. A user may access the website only through his own username and password, both of which must be kept confidential. Usage for non-personal use, whether commercial or non-commercial will be a breach of the terms of use. Users are cautioned that any attempt to copy content from the Website and distribute it for a consideration or otherwise, or to alter, or edit it, without prior express written permission, will be a transgression and may invite appropriate legal remedies. Any use of the content which goes against existing and/or applicable laws or which may lead to damage to the Website or its reputation or cause disaffection or enmity, is not permitted. If any user wishes to replicate any content on the website, he is advised to contact TASIS and any genuine user request for an educational or socially responsible cause will be considered sympathetically.

The Website is designed for use by persons interested in learning about Islamic Finance and in investing in the stock market in a legal and Shariah compliant manner. More specifically, in connection with the stock market, the main services provided by TASIS relate to determining and tracking Shariah compliance status of listed equities (and not their investment attractiveness) and determining the amount of impure income to be purged by investors to maintain the Shariah compliance status of their investments.

Other services provided by TASIS are in connection with enabling persons comply with Shariah norms while raising funds on the one hand and in abiding by Shariah rules while deploying funds raised by them for their businesses/ventures, on the other. TASIS also collaborates with mainstream players in the financial industry in developing Shariah compliant and innovative variants of existing financial instruments, offerings and schemes, to promote inclusion of segments of the population which are currently excluded from participating in conventional offerings and schemes due to their aversion or reservations to participating in interest-based or non-compliant schemes and offerings.

In the interests of spreading awareness and literacy about Islamic Finance, the website mentions some prominent educational and regulatory institutions and businesses in this field, both domestic and global and provides links to websites of such entities. TASIS however is independent of all such mentioned institutions.

Registered Users and Subscribers

A person desirous of becoming a Registered User will need to create an account using the Website and verify his account through an OTP sent to his specified email ID/mobile number. Registered Users will gain access to additional services, which may include: (i) ability to submit articles and other useful, or informative material relevant to the business of TASIS or to Islamic Finance, for being displayed on the Website, subject to TASIS approval; (ii) ability to query TASIS on matters pertaining exclusively to Islamic Finance or to products and services offered by TASIS; (iii) participate in fora or blogs created and moderated by TASIS on the website and comment on/respond to others’ posts; (iv) submit to the moderator, for posting on the website financial news, articles, notes, research material, blogs (v) post the User’s detailed profile on the Website to reach prospective employers.

Registered Users accept responsibility for all activities that occur under or in relation to their user ID and password. Upon our request, Registered Users must provide to us proof of their identity and/or age.

TASIS may also be required by law or regulation to identify Registered Users and disclose their details to a third party including the relevant legal or regulatory authority if requested by them to do so.

Subscribers have access to the specific Service/s they have subscribed to in addition to all facilities applicable to a Registered User.

User Content

User declares that he is the current and continuing, exclusive, unfettered, lawful owner of the Intellectual Property Rights to the Content of any material he requests to be posted on TASIS website. User further confirms it shall always be implicitly understood that his request for posting the Content is accompanied with the admission by the User that he grants TASIS for the full term of copyright, a non-exclusive, free, irrevocable license to use any part or the entire Content either as is or as embedded in any further work or in any work based on it, either published on the website or separately, by TASIS.

User further declares that the content he wishes to be posted shall not constitute an offer, invitation or advertisement or advice to invest in, buy, sell, underwrite or guarantee any financial security, or other product or service, whether financial or other, nor does it promote ;

User further declares that the content is not abusive, malicious, threatening or damaging to the interests or reputation of any entity, whether person, corporate or institution, nor is it against national interest, law, regulation and public morality.

TASIS reserves the sole and unfettered right to reject any material received for posting on its website at any time without assigning any reasons and the User agrees to the same.

Commercial Aspects

TASIS may alter tariffs and modify or restrict the scope of various products or services accessed through the Website, or access to the Website itself, without notice, albeit the charges, fees, or tariff and the scope of corresponding products or services which have already been paid for or subscribed to, shall not be altered or restricted. In extreme instances, if TASIS is unable to provide a service or product which it has already contracted to deliver, TASIS shall inform the Subscriber of its inability to deliver the product or service and refund any consideration it has already received on account of the product or service. In any event, if TASIS is unable to deliver a contracted service, its liability for the default shall not exceed the amount of the charges for the contracted service for a period of one month.

Fees for specific targeted services, such as Shariah Advisory, Shariah Product Structuring, Shariah Audits, provided to corporate entities are negotiated on a one-to-one basis.


TASIS avers that the website is purely for informational purpose and disclaims that it provides any professional advice related to legal, tax, investment and financial matters. No information on the website should be construed as providing any of the services disavowed above. Users are advised to refer to experts from relevant fields before acting on any information from the website.

The Shariah authorisations of all TASIS services are based on rulings of its Shariah Board, which is comprised of eminent Shariah scholars based in the country as well as in Europe and North America. There are however, several schools of jurisprudence in Islam and many seminaries, including some eminent ones among them, which issue Fatawa (legal edicts) regarding commercial transactions and financial instruments and schemes and there can be wide variations among their rulings. There is no central authority or institution which binds all Shariah scholars or Shariah Boards, whether within the country or internationally. Hence, TASIS does not hold out that any specific or all rulings of its Shariah Board has/have universal acceptance of all Shariah scholars across the world or within the country.

TASIS affirms that it takes due care and diligence in selecting its database providers, and other vendors and in processing the same based of inputs from its Shariah Board and its team of capital market professionals, in a timely fashion. Nevertheless, TASIS does not warrant that there will not be any inadvertent, typographical, computing, transcribing or human errors or delays in generating the final output. Hence, TASIS disclaims all liability, express or implied, to the maximum extent permitted by law, as to the accuracy, timeliness or authenticity of any the data, reports, calculations, deductions, derivations and conclusions provided through its website and for any direct, indirect, incidental, consequential, special, exemplary, punitive or any other damages (including without limitation loss of profits, loss or corruption of data, loss of goodwill, work stoppage, computer failure or malfunction or interruption of business) under any contract.

TASIS website provides links to other websites for information and ease and convenience of users. TASIS does not warrant the veracity of information provided or attest to the credibility of the claims made therein. TASIS is in no way liable or responsible for information or data provided or views expressed or activities connected to those websites and disclaims all liability for any loss, damage or consequence of accessing such websites.

TASIS may make changes to the website and/or to the terms of use, any time without notice. Use of the website after the posting of modifications to the Terms will constitute User’s acceptance of the Terms, as modified. Use of the website on continuous basis shall signify User’s confirmation to the changes and agreement of the User to be legally bound by the same.

User acknowledges that the material on the Website submitted by third parties from time to time is the sole responsibility of the third party who has submitted that material. If Users become aware of any inaccuracy or error on the website, TASIS invites users to bring the same to its attention.


Use of the website implies that the User agrees to indemnify TASIS and keep it indemnified against any loss, damage, expense, cost or liability incurred or suffered by it arising out of any breach by the User of any of these Terms or arising out of any claim that the User may have breached any of these Terms.