Brother Salum Awadh during one of the CIFCA's monthly Islamic Finance Debate forums providing education on halal investing
Tanzania currently has two (2) active Islamic mutual funds—Alpha Halal Fund and Imaan Finance Fund. Although the sector is still small, it witnessed strong growth in investor interest throughout 2025. This rise was driven by improving financial literacy, increasing awareness of Islamic investment opportunities, and a growing preference for ethical, Shariah-compliant wealth-building products.
Both funds have continued to attract new retail and institutional investors, demonstrating significant potential for future expansion and broader market participation. The growing interest was attributed to the fact that every investment carries some level of risk. Hence, for beginners, it was natural starting with Islamic mutual funds because they offer moderate risk compared to other investment avenues. Once more confident, investors are expected to gradually diversify into sukuk and eventually into halal stocks knowing that halal investing is not only about earning returns, but doing so in a manner grounded in Islamic ethics, justice, and responsibility. During the year, efforts were to continue encouraging investors to seek both financial growth and spiritual peace of mind by choosing funds committed to profitability with piety
