The halal investing encyclopedia
Halal or haram? Every investment, explained.
40 asset classes, instruments, and account types — each with a clear verdict tier, the conditions that matter, compliant alternatives, and honest treatment of where scholars differ. For individual stocks, see the live stock screener.
- Generally permissible6
- Permissible with conditions16
- Scholars differ7
- Generally impermissible11
Generally permissible (6)
Sound in principle — mind the listed conditions.
Permissible with conditions (16)
The structure or contents decide — screening required.
- Are REITs halal?
- Are savings accounts haram?
- Are index funds halal?
- Are mutual funds halal?
- Are dividend stocks halal?
- Is investing in IPOs halal?
- Is equity crowdfunding halal?
- Is private equity halal?
- Is venture capital halal?
- Is a Roth IRA halal?
- Is an HSA halal? (Health Savings Account)
- Are RSUs halal? (Restricted Stock Units)
- Is an ESPP halal? (Employee Stock Purchase Plan)
- Are robo-advisors halal?
- Is commodity trading halal?
- Is copy trading halal?
Scholars differ (7)
Credible positions on both sides — we lay them out honestly.
Generally impermissible (11)
Riba or invalid contracts by construction — with compliant alternatives.
Your portfolio, tiered exactly like this
Penny applies these verdicts to what you actually own — live stock screening, asset-class suitability, zakat, and purification in one app.
Download Penny for iOSEducational summaries of commonly held positions, not fatwas. Scholars differ on several of these topics — each page says where.