Who are the Aga Khanis and what are their beliefs, and is it true that they pray twice a day instead of the five daily prayers?

The "Aga Khanis" are an errant, esoteric sect of the Nizari Isma'ilis, attributed to Hasan (definition) Ali Shah (Aga Khan I). Among their most prominent figures are Aga Khan III Muhammad al-Husseini, and his grandson Karim Khan (Aga Khan IV).

Among their most important beliefs are: the doctrine of transmigration of souls (reincarnation) and the return (raj'a), their belief in the existence of an infallible or hidden Imam, elevating their Imams to the status of divinity, their claim of abrogating the Islamic Sharia (definition), their disavowal of the two Sheikhs Abu Bakr and Umar (may Allah be pleased with them), their negation of Allah's attributes, their permission of forbidden acts, their belief in the eternity of the world, their conviction that prophets are messengers only to the common people, and their denial of the obligation of the pillars of Islam such as prayer, zakat (definition), fasting, and Hajj.

This sect is widespread in India, Pakistan, and some African countries, with their main center in Karachi, Pakistan. The Permanent Committee for Issuing Fatwas has ruled that their beliefs constitute apostasy (kufr) that expels one from the fold of Islam.