I’m looking to invest in a Shara compliant ETF and live in Australia. There aren’t any Australian ones available, so I’m looking into investing in the US market. I’ve found a broker which allows me to buy the ’ The SP Funds S&P 500 Sharia Industry Exclusions ETF’ (https://www.sp-funds.com/spus/)
I’ve got 3 questions, but happy to hear any other advice on the above fund/my strategy.
They are Sharia certified by ‘Raqaba LLC’. (https://raqaba.co/en/) . Are they known to provide adequate Sharia certification?
Purification process; Raqaba’s sharia certificate suggests the amount to be purified per share will be published quarterly; does this mean we just give this amount away each quarter? Also, it suggests the Zakatable amount will be published yearly; however how can this work as one’s own zakat date may not align with the date they publish the zakatable amount on?
Voicing concern about interest dealings. How does one practically voice concern about interest dealings in an Islamic ETF? There are a huge list of companies. Any advice on this?
Thank you in advance