islamic

Salam I have a 401k through Fidelity from my employer; it a mutual fund and has done quite well over the 10 years of employment. HOWEVER, the fund is most likely not shariah-compliant. Top 10 holdings (~50% of fund): NVIDIA CORP APPLE INC AMAZON.COM INC MICROSOFT CORP ALPHABET INC CL A...

Aslaamu Alaykum I trust this message finds you in good health. Approximately 1.5 years ago, I enrolled in my company's pension scheme with Scottish Widows, specifically investing in the "Specialist Global Equity Pension (Series 2)" fund. I have a couple of vital inquiries and would greatly...

Hi. 1 year ago, I bought a coin called AAVE. I did not do my research at that time. Today I found out that it worth nearly 1 bitcoin, which is nearly 60k. After a little research, I found out that It is a platform for lending coins/money with intrest. Now I think it is not halal. I'm not sure...

I am looking to save for my kid’s college expenses. I can’t find halal 529 plan options so I am thinking of opening ESA but the problem is it says annual limit is $2,000. I don’t think that will cover all of college expenses for the kid even if my ESA outperforms market. I am wondering if...

Salam everyone, I am pretty new to Islamic investments and I wanted to know what the best options for index funds [Available in US] that are halal but not advertised as such. I've looked through the halal options such as SPUS, UMMA, AMAGX and etc. I am currently invested in few of them but I'm...

I was schooled that compound interest is Haram. I put a portion of my savings from college in stocks. The return is very little, and I also lost quite a bit of money. How do we compound our wealth by following Islamic rules? It’s just hard for middle class students like us who save up 8K-10K...

This seems pretty straightforward to me, but some comments here got me thinking I might be missing something...thoughts? opinions? valid sources?

So on ZOYA Apple 19.32% of its Revenue is questionable MSFT 7.9% of its revenues questionable So is it permissible to invest in it or not?. Zoya it's such a great app except there is no way to contact them or get in touch with them they don't have a forum and they never reply to emails from my...

This is just a continuation of my previous post - and a post explaining my first investment. Please note that the below is just my personal opinion based on my knowledge and experience. Another item appearing on balance sheets as liabilities is - deferred revenues. Deferred Revenues are...

I have a 401(k) from old my employer that had ~10% bonds and for some reason I never noticed. I am a stickler for avoiding bonds and my other investment accounts (i.e., Roth IRA) are 100% equities that are largely vetted for Shahriah compliance. I remember vetting my old 401(k) but for some...

Assalamualaikum, So as the man, my income goes towards providing for myself and my wife. And any spare money I have at the end of each month, I try to invest in the best way possible, to maximise the amount of money we will have in the future, whether for an early retirement, or to make our...

Salaam All, we've just launched a halal stock screening tool in our app Kestrl: The Muslim Money App (https://kestrl.io/). We're offering 1 week free trials to all new users and we're hoping to get as much feedback as possible on our design and features. After 1 week it's $1.49/month (or less...

Any ideas why one would go with Wahed invest instead of a mutual fund such as AMAGX or an ETF such as HLAL. I’m trying to understand the pros and cons of going with them instead of investing myself. In their “very aggressive” portfolio they still allocate 95% towards ETFs aka their own HLAL ETF...

The AMJA released a FATWA 8 years ago regarding these Muslim mortgage companies. While granted they were 8 years ago, after due diligence, most of the companies on the list STILL have those violations. Everything is too muddy and nothing with the exception of Ameen Housing has any true 100%...

Asalamualikum, I am just sharing my own opinion and how I invest my money on stocks using Halal stocks scanner app like Zoya or mussffa. I’ve done my own research on this matter for more than a year. I’ve seen lots of videos on YouTube and reading people’s comments and arguments here on reddit...

Hello people , i have a very simple question Dealing in the stock market , First of all , yes I am a newbie so I am gnna start with a basic question , shares and stocks are two different things right ? ( According to my knowledge yes they are two separate things ) Secondly, m not gnna ask about...

Hello, I am sure many of you heard about the change to T&C of interactive brokers (T&C #24). This change would allow IB to lend your fully paid shares in a cash accout to be lent out to any short seller without needing your consent. Would this change render IB haram to use or am i missing...

Salaam, I am 26 and a year out from graduating med school. By a miracle and some very very smart planning by my parents about 30+ years ago, I will graduate with very little debt. They opened a 529 plan back then which allowed me and my sister to attend college and med school debt free. Last...

We are currently renting in a HCOL (Bay Area) and have significant cash saved up ($1.6M). We have been thinking of just buying a townhome for our family of 3. Here are couple of options that we are thinking about, need some sanity check: Continue renting (5k per month) and buy real estate...

Aoa I have tried to have this question asked but it seems religious scholars typically evade this question because of fear of retaliation. Obviously we know riba is prohibited in Islam. No questions. From what I have understood is riba is asking for added value in addition to what was given...