Most companies offer retirement funds for their 401k. Example would be https://investor.vanguard.com/mutual-funds/profile/VLXVX
Can you invest in this?
Assalaamu alaykum,
Such funds need to be screened. Without the Shariah screening at fund level, shariah compliance can never be ascertained.
That doesn’t answer my question. I’m just asking if such funds/EFTs OK to invest in that has a couple haram companies in it’s portfolio. Is their a purification method or is it totally haram to invest in such funds. Their is no sharia screening that deals in mutual funds or EFTs hence why I’m asking here.
That is the issue. We cannot say it is okay or not okay until the Shariah screening is performed.
It’s their any sharia screening tool/method online that deals with EFTs/mutual funds? All I see online deals with screening individual stocks.
has the IFG screener tool been updated to show Funds? as such I have a fund FDFIX, the best I can do is see each individual company (there are 500), check each purification amount manually (using a stock screener tool), and purify the amount. The fund changes monthly, so the mix changes, and also the shariah compliance might change, so is there a best practice?