Now Muslims Can Invest Anywhere, Without Breaking Shariah Law


Nattasha Jamaluddin is stuck between a rock and a cultural hard place.

She wants to invest.But she’s Muslim. So she wants to respect Shariah law.

That means Nattasha shouldn’t invest in companies that sell or produce alcohol, tobacco, pork products, conventional financial services, (banking, insurance, etc.), weapons, defense products, and entertainment.

That sounds strict. But many faith based mutual funds have similar restrictions. So do many Socially Responsible Funds (SRIs).

Shariah compliance, however, means Muslims should also shun government and corporate bonds.

The Koran states that interest payments are considered usery. This makes it tougher to create a diversified portfolio.

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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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2 Responses

  1. Rowena says:

    What are the options for Canadians?

  2. Linda says:

    What are the options for Canadians?

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