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Our Commitment to
Halal Investing

Our full time Ethical Review Board monitors all investments to ensure compliance with Islamic Financial ethics and that all returns are halal.

What is halal investing?

A halal investment fund is one that is structured in accordance with Islamic principles. Our Ethical Review Board conducts the following screenings:

Financial Screening

Investments are screened for the presence of interest, or Riba, as well as certain debt ratios.

Business Screening

Restricted industries include alcohol, gambling, arms, tobacco, among others.

Operational Screening

Wahed Invest as a company has been certified by our Ethical Review board.

Our Full-time Ethical Review Board

Scholars who have approved our securities, systems, and technologies.

Sheikh Humza Maqbool Chaudhry

Board Member

Humza Maqbool was born in Whittier, California. He holds a B.S. in Biochemistry (2004) and a B.A. in Near Eastern Languages and Civilizations (2004) from the University of Washington. He served as the president of the Muslim Students Association at the University of Washington. He is particularly active throughout the west coast of the US, regularly giving lectures, leading classes, teaching web-based courses, delivering guest sermons and participating in conferences in the area.

Sheikh Taha Abdul Basser

Chairman of the Board

The Managing Partner of Straightway Ethical Advisory LLC, Taha Abdul-Basser, has served as a financial ethicist for investment funds and banks for over than 15 years. He received his Bachelors (A.B.) in the Comparative Study of Religion from Harvard College, a Master's (A.M.) in Arabic and Islamic Studies from the Department of Near Eastern Languages and Civilizations at Harvard University and is an ABD from the same department. Abdul-Basser has been a course instructor at the Harvard Business School, and was previously a key staff member at the Harvard Islamic Finance Program for 19 years. Sheikh Taha Abdul-Basser heads the Ethical Review Board for Wahed Invest LLC.

Sheikh Musa Furber

Board Member

Musa Furber has majored in linguistics at Portland State University, with an emphasis on computational linguistics and cognitive science. After graduating from college, he completed an intensive four-year study of the traditional Islamic disciplines--including Qur'anic studies, Prophetic traditions (hadith), ethics and law (fiqh), advanced Arabic grammar and the Prophetic biography (sira). Post his graduation, he relocated to Cairo, Egypt, where he completed a prestigious training program in the issuance of legal responsa (fatawa) at Dar al-Ifta' al-Misriyya, under the direct supervision of Shaykh Dr. Ali Jumu`a, the Mufti of Egypt.

Purification Methodology

Purification is the cleansing process that requires any investment income generated from unlawful activities, according to Islamic principles, to be given to charity.

What is purification?
Purification is a pivotal element of the Islamic investment process and ensures that no money that has been earned has come from unethical means.
The methodology
Our Shari'ah Board calculates the purification amounts and accrues it daily for all securities. This is calculated by considering the following :
  • The number of shares of each security
  • The net income per share for each security
  • Number of days held for each security
Reporting
We provide you with a unique annual purification report that includes both the methodology used and the calculation figures.

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