Amana Mutual Funds


Bismillah. Dear respected shaykh @Mufti_Faraz_Adam @Mufti_Billal. I would like to know if investing in the Amana growth fund(AMAGX) would be halal. The reason why i ask is because after researching all of their investmetn companies on zoya and islamicly it looks like 3 of them are shariah non compliant(which is only 2 percent of the AMAGX portfolio) due financial ratio being a LITTLE off and NOT BECAUSE OF INCOME SOURCE (they are Oracle(ORCL), Bristol meyers squibb(BMY), EMCOR group inc (EME)). As a result is it halal to invest in amana growth fund (AMAGX) and if so how much should i purify from that fund each year and should the purification be from the gain or the total value.

I end with the name of ALLAH

Jazakallah khair


May Allah bless you.

The best thing would be to refer to the judgment made by Zoya or Islamicly. If they considered it to be shariah compliant then trust their judgments.

As to how much you should purify from any income received, then check how much of the haram income has been earned through this fund. If the haram income represents 5% of global income, then you will give away 5% from your earnings.

As for purifying the capital gains made, see the link below:

Kind regards

Also another question is that would it still be halal to invest in Amagx(the companies that are shariah not compliant are only 2 percent and that is because of financial ratios)