How do I use this service in Europe?

As salamu alaykum,

First of all, I want to get into ETFs to start with, and am located in the Netherlands. I made an account with DEGIRO and looked up some “shariah compliant” ETFs. I found a number of them, I learned that accumulating ETFs are probably better for a long term thing, putting in money over a decades basically.

Then I notice that I can’t find those ETFs on zoya to verify if they are truly compliant. Is it a correct assumption that Zoya is focussed on a US market then?

How does a total novice enter this arena? How do I verify that these ETFs on the EU market are compliant?

This link has a list of “Islamic” ETFs available.

As-salamu Alaykum,

Mg advice is to approach it more manually, if an ETF is not available then take a look at the holdings list and verify each company.

Jazakhalla khairan,

  1. There are more than these funds available
    See this, which is UK focused but most should be available in Nederlands.
    List of all the Halal Funds - by Halal Investor

  2. The general rule is that these funds have their own sharia boards.
    Just keep it simple and go with the Islamic funds.

If you check each stock to Zoya, you will find some that Zoya classify as not compliant - this is a difference of opinion and it’s just confusing so don’t worry about it.

  1. In general the two stocks funds to consider most strongly in my opinion, over the long term (15 years+) are:
    a) Global Developed Markets - probably look at HSBC MSCI World Islamic ESG ETF
    This has some Emerging Markets in it but not huge.

b) Nasdaq 100 - HSBC Islamic Global Equity Index
This one focuses on the big famous ones, especially tech - Microsoft, Tesla, Nvidia.