Assalamu alaikum,
Would it be permissible to invest in ETFs https://www.londonstockexchange.com/stock/BTEK/ishares/company-page ? It consists of biotech companies most of these by nature make majority of profit from permissible sources.
I’ve not found any islamic biotech ETF.
Waleikum Asalam… it is quite difficult to screen ETFs as are funds. Each individual company needs to be screened for their shariah compliance followed by their weighting average.
Finispia have an ETF screener which works by you sending them details of the ETF they produce a report where 98% of its holding must satisfy the criteria (further details of how this is done is not listed). Again unless you’re planning on doing this report couple of weeks / months (each company releasing their reports could be staggered), it could easily fall into non compliant just as easy as being compliant.
That is why currently, it is safer to either invest in shariah compliant etfs / funds or directly with the company who’s shariah compliance is checked quarterly / trailing average.