A few Muslim readers have asked for Shariah compliant portfolios in the past. It took me longer than I thought, but I’m happy to report that the Shariah portfolios are now available to MoneyGeek’s regular members.
For those of you who don’t know, the Muslim religious law, called Shariah law, forbids participating in certain types of investment activities. Such activities include the following:
- Receipt and payment of interest
- Buying and selling of prohibited goods, such as alcohol, tobacco and pornography
- Transferring of risk (e.g. insurance)
- Gambling of any form
In practice, that means that a Shariah compliant (a ...