Is Wahed Invest halal?

Investment Questions and Chats General Investment
#1

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!!!

1 Like
#2

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

#3

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!

#4

  1. Impure income should be purified as Riba.

  2. It is always advisable to repent daily.

#5

Jazak Allah khair for your answer!!!

Do you mean, “purified as charity”?

#6

And should I pay as zakat or sadaqah?

#7

Pay as purification.

#8

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?

#9

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