Which app shall I use Zoya or islamicly as according Zoya Microsoft is questionable whereas according to islamicly Microsoft is shariah compliant
Assalaamu alaykum,
@saadm might be the best person to explain describe potential causes of this.
Islamicly would be the right choice in my opinion.
Thank you for the heads up, @Mufti_Faraz_Adam.
@Umair1, happy to provide some context. Zoya flags revenue segments as “questionable” when they fall into a grey area where there might be a difference of opinion among scholars. In the case of Microsoft, they earn a little over 5% of their total revenue through search advertising according to their latest annual report. While there isn’t anything inherently wrong with advertising, it’s important to note that there’s always a possibility that the ads being served through their platform may be of objectionable nature or they may promote un-Islamic products/services. Instead of outright labeling them as non-compliant, we’ll flag such revenue segments as questionable instead so that you can make a decision based on your own research and personal preference. We do our best to highlight this as clearly as possible on the detailed compliance report screen.
Hope that helps! Feel free to DM me if you have any other questions.
That’s great thanks for the insight as to why it’s marked as questionable ( also the Zoya app is amazing and a great tool I use for stock screening and keep up the great work)
Assalamu alaikum brother,
Overstock is compliant on Zoya and non compliant on Islamicly.
Please advice
Jazakallah Khair
Walaikumus salaam! While I can’t speak on behalf Islamicly, I believe this may be a result of different screening methods. You can read about the Zoya screening methodology here.
Dear Saad,
Does Zoya offer shariah compliance chart of a particular stock over a time period so we could purify our gains over the non compliant time period ?
Jzk