ETFs and Mutual Funds

[Beha (Behadin Fejzi)]

Is Spre Reit, Spus and Wahed Halal to invest In.

[Farhan]

SPRE and SPUS are certified by Raqaba, LLC and HLAL is certified by Yasaar Limited. Raqaba and Yasaar are have completed their independent shariah audits to give these funds their certification. The certification is displayed in the app. You’ll also see in Zoya that there are companies that these funds are invested into where there is a difference of opinion between our research and theirs.

That being said, as our advisor @Joe has mentioned.

If they have reputable Shariah advisors, just go with that.

Is HSBC Islamic Global Equity allowable to invest in

FYI, user Joe1 is not me, although I agree with the sentiment. If they have reputable Shariah advisors, just go with that. I missed the point in your original question about it being an Islamic fund and assumed it was a conventional one from HSBC.

[hkirefu (Husein Kirefu)]

Given these certificates are “not” affirming the quality of the holdings in a fund, rather just commenting on a document, are they reliable to base your decision on?

This is akin to an auditor saying we have reviewed the internal controls document but have not tested them to see if they are being implemented.

From a comment on another thread:

We have reviewed the SP Funds Prospectus and the Statement of Additional Information. We
have obtained sufficient appropriate evidence to issue this Certificate of Sharia Accreditation.
Therefore, we hereby certify that the documents of SPRE are Sharia-compliant.’

AAOIFI: Zoya and other places

I agree it’s a good question and one I am also unclear about. The linked PDF above has this: Sharia Accreditation We have reviewed the SP Funds Prospectus and the Statement of Additional Information. We have obtained sufficient appropriate evidence to issue this Certificate of Sharia Accreditation. Therefore, we hereby certify that the documents of SPRE are Sharia-compliant. One question is what does the distinction “the documents of” mean practically? It’s clearly not an audit of the fina…

[Beha (Behadin Fejzi)]

I am invested in both of them but some of the Companies they invest in zoys says they are not sharia complaint just wanted to know if i should sell my shares and invest somewhere else because i don’t wanna invest my money in non halal stocks.

[osama (Osama Jaffery)]

I am a big fan of SPUS

[Darrel_Lychee (Darrel)]

SPUS outperformed the S&P 500 btw^

[osama (Osama Jaffery)]

thats what i like to see

[hkirefu (Husein Kirefu)]

To affirm my position I present Waheed Invest

https://www.sec.gov/news/press-release/2022-24

[UmarA]

Don’t want to get into a keyboard argument here…we don’t need to agree…but yes for me these certificates are 100% enough.

They certify the process as compliant. We then trust it’s done correctly until told otherwise - that’s my understanding of how our faith practically operates.

Not a scholar but same as the “ijaza” concept to me. There isn’t anyone there checking every time.

Of course, things go wrong…that’s life…the resolution is to fix the error.

One can obviously be more scrupulous and do checking by oneself, and look at the accounts. Just not essential to do that per my understand of our faith.

[hkirefu (Husein Kirefu)]

The Prophet (PBUH) asked him “Why don’t you tie down your camel?” The Bedouin answered, “I put my trust in Allah.” The Prophet then replied, “Tie your camel first, and then put your trust in Allah.”

Tie your Camel and then Trust in Allah – Dr Zakir Naik