Is Wahed Invest halal?

Salaam alaikum wa rahmatullahi wa barakatuh,

Please can I get a straight-forward answer on whether should I invest in wahed invest or no, in terms of Islam? This: Fatwa: is Wahed Invest halal? provides views, but I just need the answer.

Jazak Allah khair!!!

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Assalaamu alaykum,

In terms of Wahed Invest, it is Shariah compliant. I am their Shariah advisor. We cannot advise on whether to invest or not. That is a financial decision you need to make with your financial advisor once you understand the different investments and their risk/return profiles.

Allah knows best

walaikum assalam rahmatullahi barakatuh,

Jazak Allah khair for your answer. Further questions:

  1. Should I purify the “haram elements” (like interest) by giving it as zakat or sadaqah?

  2. Should I repent to Allah for dealing with these haram elements? Because I think I should not as you (mufti) said that

Jazak Allah khair!

  1. Impure income should be purified as Riba.

  2. It is always advisable to repent daily.

Jazak Allah khair for your answer!!!

Do you mean, “purified as charity”?

And should I pay as zakat or sadaqah?

Pay as purification.

Salaam Mufti Faraz,

Does Wahed use the same halal screening for its shares in terms of interest ie shares with less than 33% debt to asset ratio are permissible to invest in?

Or more specifically are the shares used in wahed invest interest free?