Shariah methodologies.

Every stock passes a business-sector screen, financial-ratio screen and dividend purification before earning a halal rating — aligned with AAOIFI Shariah Standard No. 21 and re-checked daily across 50,000+ stocks.

1. 1
   Business sector

   Companies deriving 5% or more of revenue from alcohol, conventional finance, gambling, tobacco, pork, adult content or deferred gold/silver trading are excluded.

2. 2
   Debt ratio

   Interest-bearing debt must stay below 33% of the 36-month average market capitalization.

3. 3
   Receivables

   Accounts receivable must remain below 49% of market cap, ensuring real, tangible assets.

4. 4
   Purification

   Any residual non-permissible income (0–5%) is purified by donating that proportion of dividends to charity.

In Shariah, gold is thaman — a medium of exchange. It must therefore be bought and sold on a spot basis with full ownership taken, never on a deferred, leveraged or speculative footing.

1. 1
   Spot settlement

   Price and possession are settled in the same sitting (qabd) — no deferment on either side.

2. 2
   Full backing

   Every unit is backed by allocated physical gold, not a paper claim or IOU.

3. 3
   No riba or leverage

   No interest, margin or forward contracts — gold cannot be sold before it is truly owned.

4. 4
   Purity & custody

   Investment-grade purity, stored in audited, segregated vaults.

Like gold, silver is treated as thaman in Islamic law. The same rules of immediate spot exchange and full possession apply, making it a permissible store of value.

1. 1
   Spot exchange

   Bought and sold with immediate settlement and possession — no deferment.

2. 2
   Physical backing

   Backed by allocated physical silver held in secure custody.

3. 3
   No deferral

   No forward, margin or interest-based structures of any kind.

4. 4
   Transparent pricing

   Priced against real market spot rates, not synthetic derivatives.

Islamicly Moons applies a transparent methodology to establish the start of each Hijri month — combining precise astronomical calculation with the Shariah criteria for crescent visibility.

1. 1
   Astronomical basis

   The new-moon conjunction time is computed precisely for each location.

2. 2
   Visibility criteria

   The crescent must meet recognised elongation and altitude thresholds to be considered sightable.

3. 3
   Local sighting

   Calculated predictions are cross-checked with credible local moon-sighting reports.

4. 4
   Scholarly oversight

   Rulings on the month-start follow the guidance of the Shariah board.

The Green Portfolio layers an ethical and environmental screen on top of full Shariah compliance — so every holding is both halal and aligned with responsible, sustainable business.

1. 1
   Shariah base screen

   Every holding first passes the full 3-level equity screening.

2. 2
   Ethical overlay

   Companies are further assessed for environmental and social responsibility.

3. 3
   Deeper exclusions

   Beyond the standard haram sectors, high-harm and low-ESG businesses are filtered out.

4. 4
   Ongoing review

   Holdings are monitored and rebalanced as compliance and ESG data update.