Salam I was wondering if you guys could give any insight into the best halal index funds for a British Muslim … I have looked into the wahed index fund as well as the s&p dow jones… which would you say is best amongst these and others i may not have mentioned.
Jzk may Allah reward your work
Wa alaykum salaam,
@Mohsin_from_IFG and @ibrahimkhan might have some research on this. Let’s see what they have to say.
There’s not much in them all - fairly stable and invest in similar stuff. And there aren’t that many Muslim funds so wouldn’t spend too much time worrying about it.
For comparing options more generally, just check out: https://www.islamicfinanceguru.com/halal-investments/
I’m new to investing but it seems very slim pickings indeed for sharia compliant index funds. Is it hazardous to invest in other funds? I like the look of these:
Invesco EQQQ / EQGB Nasdaq-100 ETF
IShares Global Clean Energy INRG ETF
The companies in them are not engaged in haram industries. There are hundreds of companies involved here - is it still necessary to ensure that every company in an index/ETF fund complies with sharia rules?