Yes, it is.
Menapay follows the 3 major rules that makes a business Islamic compliant

Menapay plans to raise 25M USD, which is required to reach 10 million users by 2020. Menapay also  plans to acquire 1,000 merchants and open 5 regional offices in MENA region. According to Menapay business plan 25M USD investment is enough to reach profitability.
This is impressive

Blockchain technology brings enormous technical advantages of speed, security, authentication of transactions, freedom from manipulation and independence from capricious political interference. Its compatibility with emerging technologies of the future makes it a rational choice at every level.
In order to develop a self sufficient and Islamic compliant payment gateway, blockchain is the only suitable technology. We're developing the largest payment gateway in the Middle East and Africa. It should be independent from any central authority, and it should carry transactions with at least two witnesses. Blockchain is the technology in which we can build such an environment utilising smart and secure contracts. This is also the technology for the forthcoming era. Just as the internet introduced in 1989 was a huge milestone for the world, after which nothing was the same again. Blockchain represents the next big milestone. We're coming to an end of the period where control of the 'systems and utilities of society' can be monopolised by the state or giant corporations and systems are now made more secure by diffused control. In essence, now is the time for transparent new structures that both serve and belong to the public. Blockchain technology will play a crucial role enabling this to happen.

Menapay has based its headquarters in dubai, due to alot of favourable regulations in the region. The Dubai Blockchain Strategy establishes a roadmap for the introduction of blockchain technology for Dubai and the creation of an open platform to share the technology with cities across the globe. Dubai has now set its sights on being the first city built on blockchain by the year 2020.

We would still list on one of the top ten exchanges.

240 million tokens is allocated to tokens sales

I do not understand it. You will not pay profits to token holders? Then what is the main advantage of this coin why people should buy it?

Announcement will be officially made from our  website about the public sales date.

Merchants pay heavy fees when they use the traditional payment method for Pos machines and maintenance, but for the Menapay platform there is no fee of  such.