FAQs
Musaffa is a Halal (Shariah-compliant) Stock Trading, Investment, and Islamic Finance Education platform. The platform aims to attract investors seeking to align their money with their values and faith.
What is the best app to check halal stocks? ›
Zoya is the only app I know of to check sharia compliance of stocks, mutual funds and ETF's.
Is Musaffa free? ›
Certain Musaffa Service options are provided free-of-charge (“Starter”), while other options require payment before they can be accessed (the “Premium Subscriptions”). We may also offer special promotional plans, memberships, or services, including offerings of third-party products and services.
How does Musaffa work? ›
Musaffa divides the Shariah-compliant stock universe into five groups and ranks them from 1 to 5. The higher the ranking, the more Shariah-compliant the stock is. For example, suppose a particular stock receives a ranking of 5.
What is the best shariah compliant investment app? ›
The best halal investing apps include M1 Finance, Fundrise, Robinhood, Zoya, Wealthsimple, Aghaz, Amana Funds, and Wahed, each offering different features and benefits for Muslim investors.
What are the best halal stocks to buy? ›
List of Halal Stocks in India by Market Capitalization
Company Name | Ticker | Halal Ranking |
---|
Hindustan Unilever Ltd | HINDUNILVR.NS | ★ ★ ★ ★ ☆ |
Sun Pharmaceutical Industries Ltd | SUNPHARMA.NS | ★ ★ ★ ☆ ☆ |
Maruti Suzuki India Ltd | MARUTI.NS | ★ ☆ ☆ ☆ ☆ |
UltraTech Cement Ltd | ULTRACEMCO.NS | ★ ★ ★ ★ ☆ |
11 more rows
Can Muslims use Robinhood? ›
Robinhood. Robinhood allows clients to use third-party screening services to find the companies that follow Sharia rules. So, you can use it as a Shariah-compliant investment platform. In this way, as a user of Robinhood, you can invest in securities that entirely follow the basic principles of Shariah.
What is the best halal investing platform? ›
Wahed Invest is one of the best halal investing apps in 2024. It's a Shariah-compliant app that includes assets like halal stocks, precious metals and ETFs. The platform vets every investment thoroughly for traces of interest, debt, and haram activities.
How do you know if an ETF is halal? ›
Thankfully this too is getting easier. Online halal stock screening services can help you determine if an ETF is invested in prohibited assets. Platforms like Musaffa, Islamicly, and Zoya, can screen stocks and ETFs and determine if they are halal.
Is Amazon stock halal? ›
It has committed to using renewable energy sources for the business activities. Based on these instances, we consider that the business model that Amazon follows Amazon is in compliance to Halal investment guidelines.
Musaffa platform offers a comprehensive, end-to-end Shariah-compliant investment platform, enabling Muslim investors to align their investments with their faith fully. This comprehensive offering includes: Musaffa Academy: Providing Islamic Finance education to enhance knowledge of halal investments.
Is Tesla stock halal? ›
Yes, it's far halal to buy Tesla stock as long as the enterprise's operations aren't involved in any haram activities.
How to check if stock is halal? ›
3 things to check if a Stock is Halal
- Business activity screen: How the company makes money.
- Financial activity screen: How much interest a company has to pay or is making from its debts and investments, as well as how much cash it is currently holding.
Who is the owner of Musaffa? ›
Dilshod Jumaniyazov, Akram Jagirdar, and Rashid Turaev are the founders of Musaffa.
What is the best halal investment? ›
7 Best Halal Investment Ideas
- Stocks. Investing in stocks is one of the most popular forms of halal investment. ...
- ETFs. ...
- Cryptocurrencies. ...
- Precious Metals. ...
- Sukuk. ...
- Real Estate. ...
- Halal Mutual Funds. ...
- Risk Mitigation.
Is wahed invest legit? ›
Should you invest with Wahed Invest? Wahed Invest is an excellent roboadvisor for beginners, especially those seeking for halal investments. I would argue that its investment philosophy is passive and it's great for those who do not have the time to monitor the markets and want a hands-off approach to investing.