Frequently asked questions
What’s unique about you?
We provide you with results from five major standards: AAOIFI, S&P, FTSE, DJIM, and MSCI. These are globally respected standards. Screening with multiple criteria gives you better results as each standard has its own pros and cons. This also helps us provide you with a ranking system on how compliant a stock is.
Why are some results different?
The results may be different because of the different standards and the methodologies adopted by different screeners.
How reliable are you?
Our screening is done by an AAOIFI Certified Shariah Advisor and Auditor. We get data from among the best available sources and our model is built with a number of checks and balances to overcome the limitations of automated screening implemented by other rating agencies. Our screener is based on guidance with a reputed Shariah advisory firm that has over 15 years of experience in the field. Our work is used by some of the most respected Islamic financial institutions in the world.
How often do you update the data?
Once in a quarter. We update around the following dates:
- April 15: Annual
- May 30: Q1
- Aug 30: Q2
- Dec 1: Q3
Frequent changes to compliance requiring ad hoc selling of investments is neither required by Shariah standards nor recommended. The industry practice is to update once a quarter.
What markets do you cover?
We cover USA (NYSE, NASDAQ and OTC), UK (LSE), Canada (TSE and TSX), Europe (Euronext), Australia, GCC Countries, India (BSE and NSE), Turkey, and Kazakhstan.
Will you add more countries?
Yes, In sha Allah, we will continue to add more exchanges to our universe. Let us know if you would like to recommend a country to be included earlier than others.