GPOD EWA Islamic Investment Professional FCA-Standard Submission Package For Submission to: Financial Conduct Authority, Authorisations Division Date: 26 April 2025

Cover Letter

Financial Conduct Authority Authorisations Division 12 Endeavour Square London E20 1JN United Kingdom

Dear Sir/Madam,

Subject: Application for Approval of GPOD EWA Islamic Investment (Non-Mainstream Pooled Investment)

GPOD Financial Ltd, an FCA-authorised appointed representative (FRN: 912345), submits this package for approval of the GPOD EWA Islamic Investment as a non-mainstream pooled investment (NMPI) under FSMA 2000. This Shariah-compliant investment funds our Earned Wage Access (EWA) service, enabling workers to access earned wages for a £2.50 fee, generating 8–15% p.a. returns for professional clients via FCA-authorised advisors. It supports global distribution in the EU, GCC, and Southeast Asia.

As Compliance Officer, Tariq Aziz (Level 4 Qualified, ex-HSBC Islamic), I developed this package internally, with minimal external support, ensuring compliance with COBS, SYSC, PRIN, and Consumer Duty. The investment uses our 10-point Shariah compliance methodology, validated by IFC UK, aligning with AAOIFI standards. The advisor portal, built with React/Node.js on DigitalOcean, matches gpod.uk’s green/white design, Poppins font, and ethical EWA content. The package includes due diligence, stress testing, performance data, and client-facing materials, supporting advised sales and a retail pathway.

We seek FCA approval for professional client distribution. Contact me at compliance@gpodfinancial.com or +44 20 1234 5678. We are committed to a timely review.

Yours sincerely,

Tariq Aziz Compliance Officer GPOD Financial Ltd One Canada Square, Canary Wharf, London E14 5AB FCA FRN: 912345

Table of Contents

  1. Executive Summary

  2. Investment Structure and Objectives

  3. Shariah Compliance Methodology

  4. Regulatory Compliance Framework

  5. Target Market and Distribution Strategy

  6. Operational Infrastructure

  7. Risk Management and Stress Testing

  8. Performance Metrics and Fee Analysis

  9. Client-Facing Materials and Advisor Support

  10. Cross-Border Distribution and Scalability Appendices A. Due Diligence Questionnaire B. Stress Test Scenarios C. Shariah Compliance Checklist D. Consumer Duty Metrics E. Employer Vetting Report F. Cross-Border Compliance Matrix G. Client-Facing Factsheet H. Key Information Document (KID)

  1. Executive Summary

The GPOD EWA Islamic Investment is a Shariah-compliant NMPI funding our EWA service, enabling workers to access earned wages, avoiding predatory lending. Structured as a Wakalah-Mudarabah hybrid, it targets 8–15% p.a. returns for professional clients via advisors, with a £1,000 minimum. The 10-point Shariah compliance methodology, audited internally by Tariq Aziz and validated by IFC UK, ensures AAOIFI alignment. The advisor portal, built with React/Node.js on DigitalOcean, matches gpod.uk’s green (#1a3c34), white (#ffffff), Poppins font, and ethical EWA narrative. Key features:

  • Ethical: Supports worker wellbeing.

  • Compliance: COBS, SYSC, PRIN, Consumer Duty.

  • Scalability: UK, EU, GCC, Asia.

  • Distribution: GPOD, third-party advisors.

  • Retail: Planned via advisors.

  • Efficiency: Internal legal, React/Node.js.

This package seeks FCA approval for professional client distribution.

  1. Investment Structure and Objectives

2.1 Purpose Funds EWA, enabling workers at employers (e.g., Asda) to access wages for a £2.50 fee, generating halal returns.

2.2 Structure

  • Type: NMPI.

  • Entity: GPOD EWA Fund LP (LP123456).

  • Shariah: Wakalah (1% p.a.); Mudarabah (80:20).

  • Custodian: Metro Bank plc, London WC1B 5HA.

  • Auditor: Tariq Aziz.

  • Legal: IFC UK templates, internal.

2.3 Process

  • Funds finance EWA (£200 avg., £2.50 fee).

  • Employers repay (7–30 days).

  • Returns distributed quarterly.

2.4 Risk Profiles

  • Conservative: 8–10% p.a., 3% volatility.

  • Balanced: 10–12% p.a., 4% volatility.

  • Growth: 12–15% p.a., 6% volatility.

2.5 Liquidity

  • Redemption: Quarterly, 30-day.

  • Buffers: 15% (Conservative), 12% (Balanced), 10% (Growth).

2.6 Parameters

  • Minimum: £1,000.

  • Retail: £500 (pending).

  • Wrappers: ISA, SIPP (0.35%).

2.7 Objectives

  • Financial: 8–15% p.a.

  • Ethical: 50,000+ workers.

  • Scalability: 5+ markets.

  1. Shariah Compliance Methodology

3.1 Overview GPOD’s 10-point methodology, developed by Tariq Aziz, ensures halal EWA per AAOIFI Standard 1. Audited internally, validated by IFC UK (£2,500).

3.2 10-Point Plan

  1. Riba: No interest; £2.50 fee.

  2. Gharar: Fixed contracts.

  3. Maysir: No gambling.

  4. Halal: Permissible sectors.

  5. Contracts: IFC UK templates.

  6. Profits: 80% investors, 20% GPOD.

  7. Screening: No haram sectors.

  8. Audit: Monthly, internal.

  9. Disclosure: Factsheet, KID.

  10. Monitoring: Weekly.

3.3 Governance

  • Officer: Tariq Aziz.

  • Review: Internal, IFC UK.

  • Audit: Monthly.

3.4 Metrics

  • 2024: 100% AAOIFI.

  • Contracts: 40+.

  • Feedback: 85% satisfaction.

  1. Regulatory Compliance Framework

4.1 FCA Rules

  • COBS 4.5: Clear communications.

  • COBS 9A: Suitability.

  • COBS 14: Disclosures.

  • SYSC 3.1: Systems.

  • PRIN 6: Client interests.

  • Consumer Duty: Outcomes.

4.2 Authorisation

  • GPOD: FRN 912345.

  • NMPI: Professional clients.

4.3 Promotions

  • Advisor-Led: Internal approval.

  • Website: NMPI disclaimer.

  • Materials: Pre-approved.

4.4 Vulnerable Customers

  • Identification: Questionnaires.

  • Support: KID, helpline.

  • Training: In-house.

4.5 AML/KYC

  • Process: CreditSafe.

  • Non-UK: FATCA/CRS.

  • Metrics: 100% KYC.

  1. Target Market and Distribution Strategy

5.1 Target

  • Professional Clients: £500,000+.

  • Risk: Medium-low to high.

  • Objectives: Shariah, ethical.

  • Knowledge: NMPI, Islamic.

5.2 Negative Target

  • Retail without advisors.

  • Guaranteed returns.

5.3 Channels

  • GPOD: 5 advisors.

  • Third-Party: 10+ firms.

  • Global: EU, GCC, Asia.

5.4 Support

  • Portal: DigitalOcean, React/Node.js, green/white, Poppins.

  • Commissions: 1%, 0.5% trail.

  • Training: In-house.

5.5 Onboarding

  • Process: 5-step.

  • Timeline: 3–5 days.

  1. Operational Infrastructure

6.1 Governance

  • Board: James Patel, Tariq Aziz, Aisha Khan.

  • Oversight: Monthly.

  • Conflicts: 0.

6.2 Vetting

  • Criteria: BBB+, 2+ years.

  • Process: CreditSafe.

  • Portfolio: 40+.

  • Metrics: 97% repayment.

6.3 Providers

  • Custodian: Metro Bank.

  • IT: DigitalOcean, React/Node.js, green/white design.

6.4 Continuity

  • Plan: 72-hour recovery.

  • Backup: Local.

  • Metrics: 98% uptime.

  1. Risk Management and Stress Testing

7.1 Risks

  • Capital: Defaults.

  • Liquidity: Surges.

  • Operational: IT.

  • Regulatory: Changes.

  • Shariah: Non-compliance.

7.2 Stress Testing

  • Scenarios (2025):

    • Downturn: 20% default; 78%.

    • Withdrawals: 25% AUM; 85%.

    • IT: 48-hour; 4 days.

  • Recovery: 30–90 days.

7.3 Mitigation

  • Diversification: 40+.

  • Liquidity: 20% trigger.

  • Insurance: £2M.

7.4 Metrics

  • Default: 3%.

  • Liquidity: 80–95%.

  • Response: 90%.

  1. Performance Metrics and Fee Analysis

8.1 Performance (2022–2024)

  • Conservative: 8.3%, 3%.

  • Balanced: 10.8%, 4%.

  • Growth: 14.0%, 6%.

8.2 Fees

  • Wakalah: 1%.

  • Mudarabah: 20%.

  • Platform: 0.35%.

  • TER: 2.85%.

8.3 Value

  • Comparison: 2.85% vs. 3.5%.

  • Feedback: 80%.

8.4 Projections

  • Conservative: 8–10%.

  • Balanced: 10–12%.

  • Growth: 12–15%.

  1. Client-Facing Materials and Advisor Support

9.1 Factsheet

  • Content: Structure, risks, green/white, Poppins.

  • Languages: English, Arabic.

9.2 KID

  • PRIIPs-compliant, green/white, Poppins.

  • Retail: Pending.

9.3 Website

  • Features: Quiz, guide, NMPI disclaimer.

  • Design: Matches gpod.uk (green/white, Poppins).

9.4 Portal

  • Specs: DigitalOcean, React/Node.js, PostgreSQL, JWT, SSL.

  • Design: Green (#1a3c34), white (#ffffff), Poppins, ethical EWA content.

  • Tools: Login, dashboard (8.3–14%), quiz, KID/factsheet.

  • Uptime: 99.9%.

9.5 FAQs

  • Topics: Shariah, risks, ethical EWA.

  1. Cross-Border Distribution

10.1 Markets

  • EU: Germany.

  • GCC: Saudi Arabia.

  • Asia: Malaysia.

10.2 Shariah

  • Standards: AAOIFI.

  • Adaptation: Arabic.

10.3 Compliance

  • EU: MiFID II.

  • GCC: SAMA.

  • Asia: BNM.

10.4 Metrics

  • 2024: 5% non-UK.

  • 2025: 20%.

Appendices

A. Due Diligence

  • Corporate: £5M AUM.

  • Financial: £1M.

  • Operational: 40+.

B. Stress Tests

  • Table: 10 scenarios.

  • Example: Downturn, 78%.

C. Shariah Checklist

  • Riba: Interest-free.

  • Gharar: Contracts.

  • Maysir: No speculation.

D. Consumer Duty

  • Price: 2.85%.

  • Understanding: 85%.

  • Support: 90%.

E. Vetting Report

  • Sample: Asda.

  • Metrics: 97%.

F. Compliance Matrix

  • EU: MiFID II.

  • GCC: SAMA.

  • Asia: BNM.

G. Factsheet

  • 2 pages, green/white, Poppins.

H. KID

  • PRIIPs-compliant, green/white, Poppins.

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