Is Spre Reit, Spus and Wahed Halal to invest In.
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.
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.’
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.
I am a big fan of SPUS
thats what i like to see
To affirm my position I present Waheed Invest
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.