I pray you are in the best of health and Iman , Insha’Allah.
I have recently been in touch with Sarwa the roboadvisary service regarding their halal portfolio, based on the review on IFG.
Not being a financial expert, I wanted to ensure I would have no trouble calculating dividend purification for any non halal activity.
Please see their latest correspondence below :
Currently, the only kind of purification report that we have available is provided directly through BlackRock which I shared with you previously. You can access their purification table for each ETF via the following links:
We exclusively use BlackRock iShares Islamic funds that invest in hundreds of companies which are fully compliant with Shariah investment principles. Each has been approved by MSCI’s Shariah advisors’ committee of Shariah scholars. I attach a PDF which outlines MSCI’s Islamic Index Methodology for your review and reference.
The information that you provided is helpful as we are in the process of revamping our Halal portfolios and would also like to include a simpler, more accessible purification report for our investors. This will be combined with better diversification through gold and sukuk ETFs.
**I hope this is sufficient for you to be able to start your investment journey with us as we would love to have you both as a client and look forward to unveiling the new Halal portfolio very soon.
I have had a look at the purification report which is the form of a table I and am still unclear on how to read it and do the calculation.
I would be grateful for any guidance on this.