I recently joined a pension plan with a shariah option with an app called Penfold.
Does anyone have any experience with them?
When I looked further into the companies in which they invested my money I felt they may not be halal?
Welcome, @MohammedAwan! I’m not familiar with Penfold as they’re a UK-based company but according to their website their shariah option invests in the HSBC Islamic Global Equity Index Fund. HSBC claims to work with an independent shariah supervisory committee that reviews and monitors the fund. More information on this here.
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Shariah compliant fund is managed by HSBC. The Shariah Supervisory board, which is a board of 4 Islamic scholars, oversees Dow Jones Islamic Market indices which is based on similar method as AAOIFI, which is the standard used by Zoya.
file:///home/chronos/u-b246a661d3093e6d53d0badcf7c365b2d9c56df3/MyFiles/Downloads/islamic-global-equity-index-fund.pdf