At Musaffa, we continuously strive to enhance your experience in Halal investing. Our “Portfolio Management and Purification” feature represents this commitment, offering a sophisticated yet user-friendly approach to aligning your investments with Islamic financial principles.
Understanding Shariah-Compliant Investing
Shariah-compliant or Halal Investing adheres to Islamic law, emphasizing ethical and moral trading practices. This approach avoids investments in businesses associated with alcohol, gambling, and other prohibited activities.
The Linked Portfolio Feature
Our “Linked Portfolio” feature in Musaffa lets you directly connect your existing portfolios from various supported brokerages to our app. This seamless integration is a game-changer, providing:
- A bird’s-eye view of all your investments and the overall Shariah compliance score of your profile
- Automated purification calculation and tracking
- Back-dated purification calculations for your previous transactions
How to Link Your Portfolio
- Click on “Connect Your Account.”
- Select your broker and authenticate via the same.
- Musaffa imports all your holdings.
- Thats it! Musaffa does its magic and creates a customized dashboard.
Shariah Compliance Overview
Once linked, Musaffa analyzes your portfolio (holdings), breaking down what percentage is Halal, Not-Halal, and Doubtful. This insight is crucial for maintaining a portfolio that aligns with your values and Islamic finance principles.
It also shows other portfolio purification details, such as:
- Pending Purification: Showing the amount yet to be purified.
- Total Sold: The total value of sold investments.
- Total Purification Amount: The overall purification requirement.
- Purified Amount: Indicating how much has already been purified.
- View Purification Details: A feature to delve deeper into your purification activities.
Purification Process Explained
Purification in Islamic finance involves eliminating non-compliant income generated from non-Halal sources. Musaffa simplifies this by calculating the purification amount based on your transactions, ensuring your investments remain pure.
Tracking and Managing Purification
Our purification tracker in Musaffa is a standout feature. It shows your pending purification amount and allows you to mark off purified sums, keeping your portfolio clean and compliant.
List of Supported Institutions/Brokerages
Additional Features and Tools
Musaffa also offers educational resources on Islamic finance at our Academy, ensuring you’re well-informed about your investment choices.
With Musaffa, Shariah-compliant investing is straightforward and accessible. Embrace the power of ethical investing and take control of your financial future in a way that aligns with your beliefs.
If you are interested in learning more about Islamic finance-related topics, please click here and visit our academy.
Also, feel free to sign up for our free Halal stock screening service at musaffa.com
Disclaimer: Important information