Looking to make ethical investments in Germany that align with your values? Halal stocks could be the ideal solution.
In this guide, we’ll explore how Sharia-compliant investments work in Germany, adhering to Islamic principles while offering you the chance of promising financial returns.
Whether you’re a seasoned investor or just starting out, this article will help you navigate the German market for opportunities that are both profitable and ethically sound.
List of 20 Halal Stocks in Germany by Market Cap
| Company Name | Ticker | Market Cap | Shariah-Compliance Status | Halal Ranking |
| Merck KGaA | MRK.DE | € 73.13B | Halal | ★ ☆ ☆ ☆ ☆ |
| Siemens Healthineers AG | SHL.DE | € 55.56B | Halal | ★ ★ ★ ★ ★ |
| Infineon Technologies AG | IFX.DE | € 38.81B | Halal | ★ ★ ★ ★ ☆ |
| Adidas AG | ADS.DE | € 37.24B | Halal | ★ ★ ★ ☆ ☆ |
| Henkel AG & Co KGaA | HEN3.DE | € 32.93B | Halal | ★ ☆ ☆ ☆ ☆ |
| Beiersdorf AG | BEI.DE | € 28.25B | Halal | ★ ★ ★ ☆ ☆ |
| Hapag-Lloyd AG | HLAG.DE | € 24.80B | Halal | ★ ☆ ☆ ☆ ☆ |
| Symrise AG | SY1.DE | € 16.95B | Halal | ★ ★ ★ ☆ ☆ |
| Sartorius AG | SRT.DE | € 15.26B | Halal | ★ ★ ☆ ☆ ☆ |
| Knorr Bremse AG | KBX.DE | € 11.98B | Halal | ★ ☆ ☆ ☆ ☆ |
| Nemetschek SE | NEM.DE | € 10.32B | Halal | ★ ★ ★ ☆ ☆ |
| Rational AG | RAA.DE | € 10.11B | Halal | ★ ★ ★ ★ ★ |
| Hella GmbH & Co KgaA | HLE.DE | € 9.79B | Halal | ★ ☆ ☆ ☆ ☆ |
| Brenntag SE | BNR.DE | € 9.21B | Halal | ★ ☆ ☆ ☆ ☆ |
| GEA Group AG | G1A.DE | € 7.24B | Halal | ★ ★ ★ ★ ☆ |
| Zalando SE | ZAL.DE | € 6.11B | Halal | ★ ☆ ☆ ☆ ☆ |
| Puma SE | PUM.DE | € 5.73B | Halal | ★ ★ ★ ☆ ☆ |
| Carl Zeiss Meditec AG | AFX.DE | € 5.00B | Halal | ★ ★ ★ ★ ★ |
| SCHOTT Pharma AG & Co KgaA | 1SXP.DE | € 4.87B | Halal | ★ ★ ★ ★ ★ |
| Fuchs Se | FPE3.DE | € 4.85B | Halal | ★ ★ ★ ★ ★ |
Establishment of Islamic Finance in Germany
Islamic finance is still relatively new in Germany. The first major Islamic bank, KT Bank, launched in 2015. Before that, Islamic finance products were available mainly for investments, starting with a Sukuk, an Islamic bond issued by Saxony-Anhalt in 2004.
This bond attracted significant interest from investors in Bahrain, the UAE, and Europe.
Currently, two Islamic banks operate in Germany: KT Bank, linked to Turkey’s Kuveyt Türk Bank, and “insha”, a digital bank from Turkey’s Albaraka Türk.
Both banks target the growing Muslim community, especially those with Turkish connections, and aim to become key players in European Islamic finance.
There are challenges, including past scandals involving failed Islamic investments, which have made some cautious. Nonetheless, the demand for Islamic finance remains strong.
In 2009, Germany’s BaFin allowed a foreign institution to conduct Islamic banking, though only with limited offerings. BaFin has since hosted conferences to explore Shari’ah-compliant financial products.
Germany’s large Muslim population and robust economy provide a promising future for Islamic finance.
Source: NortonRoseFullBright
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