Salaam,
I am currently looking into investing in a mutual fund and I have been looking at the funds available in Hargreaves Lansdown.
One of the funds that I wanted to invest in has some holdings in companies that are considered non-compliant (Based on AAOIFI standards).
After performing a business screen for each of these non-complient companies I was able to calculate that the mutual fund as a whole had less than 5% non-shariah compliment revenue which according to AAOFI would make the fund compliant.
My question is should I class the whole fund as non-shariah compliment if one company is non-shariah compliment or am I correct is saying as long as the fund itself has less than 5% non-shariah compliance it should be compliment according to AAOFI
Kind regards,
Sayf Khan