Islamic Filter

As you can see, there are several steps that a Muslim Investor must dobefore he can invest in a certain stock.

These steps include:

• Nature of business
• Percentage of income from interest
• Financial soundness

Please check our stocks section for full details.

In most cases, the individual Muslim investor is a person who does not wantto dedicate a lot of his time to stock investment. More often than not, heis employed full time, and wants to spend time with his family and community,rather than being constantly glued in front of a computer screen researching company financials, visiting their web sites, and forming an opinion on allthe above parameters.

In order to help with this dilemma, several companies are developing an Islamic Filter that would help a Muslim determine whether a company is eligible for investment from the Islamic point of view or not. And, more importantly, why is it not eligible.

• Dow Jones Islamic Markets Index
  
  • Islamic Markets Methodolgy Overview
    Describes the methodology used to create the Dow Jones Islamic Markets index, with a detailed rule book as well.
  • DJIM Index Statistics
    Statistics on the index.
  • Daily Performance
    Daily performance Excel spreadsheet.
  • Articles on Islamic Investing
    A collection of various useful articles by different authors.
• IslamiQStocks.com
  Already has a screening process published on their web site. They have a sample Screening of 25 NASDAQ Companies on their web site as of 3 May 2000.
• iHilal
  Offers Islamic Stock Screening based on the Dow Jones Islamic Markets filtering process.
• ISFA (Investment Shariah Filtering Application)
  Is being developed by the ZAD Fund. They envision that soon a Muslim will be able to key in the company symbol on a web site, and get an opinion on the spot on why the company is (or is not) suitable for a Muslim to invest in.
• Islamic Filter
  Is being developed by a certain company in Australia. (Anyone has more information on this?)