I Monetary Advisory (IMA) was an Indian investment company, with headquarters in Bangalore. Its collapse was one in a long line of similar collapses over the preceding few years, of companies purporting to be Islamic banking companies, with investors in India and the United Arab Emirates, that investigating authorities afterwards stated to have been Ponzi schemes, including: Heera Group; Morgenall, Capital Plus, and Capital Infrastructure (all collapsed in 2018); Injaz International, Ajmera, Aleef, Aala Ventures, Ambidant, and Burraqh; and Sunfeast Infotech, SpeakAsia, MMA Forex, Gold AE, Ferryland Tourism, UT Markets and Exential Group.Total losses to investors over 14 such companies have been conservatively estimated at ₹5,000 crore (US$630 million) with the loss due to IMA alone estimat