Looking to make ethical investments in Italy that align with your values? Halal stocks offer a compelling opportunity to invest in a manner that adheres to Islamic principles while seeking strong financial returns.
As the Italian market evolves, there are growing options for Sharia-compliant investments, blending ethical considerations with promising financial potential.
Explore how halal stocks can fit into your investment strategy, providing both a principled approach to finance and the possibility of lucrative returns.
List of 20 Halal Stocks in Italy by Market Cap
| Company Name | Ticker | Market Cap | Shariah-Compliance Status | Halal Ranking |
| Tenaris SA | TEN.MI | € 20.28B | Halal | ★ ☆ ☆ ☆ ☆ |
| Moncler SpA | MONC.MI | € 18.04B | Halal | ★ ★ ★ ★ ★ |
| Prysmian SpA | PRY.MI | € 12.77B | Halal | ★ ☆ ☆ ☆ ☆ |
| Recordati Industria Chimica e Farmaceutica SpA | REC.MI | € 10.72B | Halal | ★ ★ ★ ★ ☆ |
| Brunello Cucinelli SpA | BC.MI | € 7.60B | Halal | ★ ★ ☆ ☆ ☆ |
| Amplifon SpA | AMP.MI | € 6.96B | Halal | ★ ★ ☆ ☆ ☆ |
| Technoprobe SpA | TPRO.MI | € 5.63B | Halal | ★ ★ ☆ ☆ ☆ |
| DiaSorin SpA | DIA.MI | € 5.13B | Halal | ★ ★ ★ ★ ☆ |
| Interpump Group SpA | IP.MI | € 4.70B | Halal | ★ ★ ★ ☆ ☆ |
| De’ Longhi SpA | DLG.MI | € 4.51B | Halal | ★ ☆ ☆ ☆ ☆ |
| Industrie De Nora SpA | DNR.MI | € 2.95B | Halal | ★ ☆ ☆ ☆ ☆ |
| Carel Industries SpA | CRL.MI | € 2.45B | Halal | ★ ★ ★ ★ ☆ |
| Technogym SpA | TGYM.MI | € 1.82B | Halal | ★ ★ ★ ☆ ☆ |
| Enav SpA | ENAV.MI | € 1.81B | Halal | ★ ☆ ☆ ☆ ☆ |
| Sanlorenzo SpA | SL.MI | € 1.43B | Halal | ★ ★ ★ ★ ★ |
| Cementir Holding NV | CEM.MI | € 1.41B | Halal | ★ ☆ ☆ ☆ ☆ |
| Salcef Group SpA | SCF.MI | € 1.41B | Halal | ★ ★ ☆ ☆ ☆ |
| Intercos SpA | ICOS.MI | € 1.33B | Halal | ★ ★ ★ ☆ ☆ |
| Rai Way SpA | RWAY.MI | € 1.30B | Halal | ★ ★ ★ ★ ★ |
| Tinexta SpA | TNXT.MI | € 839.87M | Halal | ★ ☆ ☆ ☆ ☆ |
Regulatory Landscape for Islamic Finance in Italy
Italy’s approach to Islamic finance is evolving, reflecting its potential impact and growing interest. Although Islamic finance principles align well with many aspects of Italian civil law, some regulatory challenges remain.
Italy has over 1.52 million Muslims living in the country in 2023. This significant population and the strategic location of Italy between Europe and Islamic countries make it a promising market for Islamic financial products.
Key Islamic Financial Instruments
Islamic finance is expanding in Italy, introducing several key financial instruments that adhere to Shariah law.
1. Sukuk (Islamic Bonds)
Sukuk are Islamic bonds representing ownership in assets or projects, offering returns through profit-sharing rather than interest.
In Italy, interest in Sukuk is slowly growing due to the Muslim community and investments from Islamic countries, though issuance is still limited.
2. Murabaha (Cost-Plus Financing)
Murabaha involves one party (usually a bank) buying an item and selling it to the customer at a price increased by a fee or markup, at a higher price.
The first Murabaha deal was transacted in the historic city of Pavia. This transaction, structured, implemented, and financed by ASSAIF, featured the acquisition by an SPV of a disused industrial building and its sale to a local Muslim association for use as a cultural center.
3. Ijarah (Leasing)
Ijarah refers to a contract where one party (lessor) leases a tangible asset or property to another party (lessee) for an agreed period of time and at an agreed rental price. This means that the lessor retains ownership of the asset while the lessee has the right to use it in exchange for payment. The Ijarah system is very similar to a leasing contract, and the assets under the Ijarah finance could be used for cars, homes, plants, or machinery.
4. Musharaka (Partnership Financing)
Musharaka is a partnership where all parties share profits and losses based on their investment. Since Shariah prohibits interest in lending, Mushakarah allows partners to distribute the profit on pre-agreed ratios, while each partner shares the losses in proportion to their contribution.
Disclaimer: The content is for informational purposes only and does not constitute financial advice. It is important to conduct your own research or consult with a financial or investment advisor. All logos or brands are referenced for identification purposes only and do not constitute an endorsement of any kind. This information is accurate as of the date of publication and may not reflect recent changes. Access our comprehensive legal disclaimers at musaffa.com/disclaimer.
