Muslim Xchange vs Other Halal Stock Screeners

One of the most frequently asked questions I receive is about the differences between Muslim Xchange and other halal stock screeners.

I understand the confusion these differences can create; I too wish there weren’t any. So here I am, addressing these issues to put some of your worries to rest.

Listed below are five things that make Muslim Xchange unique compared to other halal stock screeners:

1. Trusted by Industry Leaders

Anyone into halal investing has probably heard of SPUS, the popular ETF that tracks the S&P 500 Shariah exclusions index. The parent company behind this and other halal ETFs is ShariaPortfolio, and they trust us with stock screening.

We also serve Raqaba, an industry leader in providing Sharia advisory services. They count Islamic banks like Alrajhi and several others among their clientele. Raqaba is also the firm that certifies halal ETFs like SPUS.

2. Unmatched Expertise

There is a reason why industry leaders trust us: Our screening is industry-grade, built by partnering with experts who have decades of specific experience in Shariah compliance of stocks and funds.

This is important because the field of Islamic finance is quite broad, and scholars tend to have expertise in specific areas of Islamic finance. Most of the popular Shariah advisors you see on other apps are great, no doubt (may Allah bless them), but they don’t specialize in this area.

Additionally, all screening is done by an AAOIFI Certified Shariah Advisor and Auditor. This is quite unique to Muslim Xchange. In other apps, they have a Shariah advisory board, but the screening itself is done by analysts, not Shariah Advisors.

3. Accurate and Reliable, Nothing Questionable about it

If you look into some popular apps, a company like MSFT (Microsoft) that has been cleared by literally every Shariah board and included in every Islamic index that I know of has been classified until today as Questionable or Not Halal.

This should immediately raise a red flag that such screeners are unfortunately not reliable. There are several such examples.

Our screening is based on industry expertise. We go deep into analyzing companies, their businesses, and impure incomes. We screen based on five major Shariah standards.

We are the only ones that calculate Zakat exactly according to the AAOIFI methodology. We don’t follow an estimation in this regard. Likewise, for purification. I’m not saying estimation is wrong, but it’s just not AAOIFI.

4. Halal Stock Advisor

We are the only platform that researches and publishes stock picks that are excellent from an Islamic and business perspective. Alhamdulillah, Allah has blessed it, and we have seen unbelievable performance of the Halal Stock Advisor (+102% in less than six months).

5. Ask the Shariah Advisor & Transparency

Our members ask and get their questions answered directly by a Certified Shariah Advisor in our Community. We have a transparent Community where questions and any errors are posted for everyone to see. This holds us accountable for our work. Our members learn from each other’s posts as well.

May Allah accept, forgive our shortcomings, and guide us always. Aameen.

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Picture of Faraz Omar, CSAA, MBA
Faraz Omar, CSAA, MBA
Founder of Muslim Xchange. MBA in Finance and AAOIFI Certified Shariah Advisor & Auditor (CSAA). Passionate about what we as Muslims can and must do for each other and the world in general.
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