Research
Shariah screening, measured
Findings from our own screening data — the five rulebooks applied to real baskets, with the figures read out of the same files the API answers from. Every report carries the date it was measured, because coverage and verdicts move.
Reports
Studies we run against the whole screened universe. Each one states what it counted, over how many funds, and on what date.
150 funds · 5 standards · denominator analysis
Where the five Shariah standards disagree about the same ETF
35 funds are permissible under one standard and impermissible under another; only 3 pass all five.
7 branded funds · 5 standards · coverage shown
Every Shariah-branded ETF, screened against all five standards
4 of the 7 funds marketed as Shariah-compliant are called impermissible by at least one recognised standard.
150 funds · basket coverage · 95% rating gate
How much of an ETF can actually be screened
23 of 150 funds sit below the 95% gate — and some are still ruled out, which is not a contradiction.
Daily verdict changes
Published every weekday. Which company changed verdict, under which standard, and whether it was the company that moved or the standard’s own limit.
Sanmina Corporation is no longer halal under AAOIFI
AAOIFI · SANM
Skyworks Solutions, Inc. is no longer halal under AAOIFI
AAOIFI · SWKS
AEHL is halal again under AAOIFI
AAOIFI
Common questions
What is the difference between this and the blog?
The blog explains how Shariah screening works and how to build with the API. A research report publishes a measurement: a number we counted, the date we counted it, and the method that produced it. Every figure in these reports is read out of the same data the API serves rather than written into the page, so a report cannot quietly disagree with the product it describes.
Where does the data come from?
Our own screening engine. Companies are screened on their business activity and their balance sheet against five rulebooks; funds are screened as a weighted roll-up of what they hold. Nothing here is licensed from another screening provider, which is why we can publish the disagreements between standards rather than one blended answer.
Why publish where the standards disagree rather than one verdict?
Because the disagreement is the fact. Five recognised standards apply different thresholds to different denominators, so on a real basket they reach different answers — 35 of the 150 funds on this site are called permissible by one and impermissible by another. A single blended verdict would hide the one thing a reader needs in order to decide which standard they actually follow.
Are these reports investment or religious advice?
No. They report what a published methodology produces when applied to disclosed data. They do not tell anyone what to buy and they do not issue a religious ruling; the standards named in them are the work of their own scholars and boards, and we are not affiliated with any of them.
Can I use these figures?
Yes, with attribution and the measurement date beside them — the date is part of the figure. Coverage and verdicts move as providers republish baskets and as companies report, so a count quoted without its date stops being true without anyone editing it.
Keep reading our articles
All articles →Learn how the S&P 500 Shariah screen works, which thresholds apply, and why methodologies give different verdicts on the same company.
Learn what makes a stock shari ah compliant: the business activity screen, the 30% debt and cash ratios, the 5% income test, and why standards can disagree.
What makes a Shariah Compliant Stock? Learn the business activity screen, the 30% debt and cash tests, and how verdicts change over time.
Build this into your product
The screening behind every page here is available as an API — the same verdicts, the same five standards, for stocks and funds.