What is the difference between fund-level and manager-level Shariah certification?

A fund-level certificate names the product and covers a stated period. A manager-level certificate covers the firm in general and is not evidence about any particular fund.

What to look for on a certificate:

  • The product it names - this fund, or the manager
  • The period it covers, and whether that period has ended
  • The board or scholar who issued it, identified by name
  • The standard the certification was assessed against

InvestHAQ grades the strength of the evidence a fund discloses on the Certification Strength Scale. It grades the evidence - it does not certify the fund.

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Factual and educational information only. Nothing on this page is financial product advice, a recommendation, or a Shariah ruling. Consider your circumstances and the product's disclosure documents, and seek licensed advice and qualified scholarly guidance before acting.

1Y net return
  • GOLD · Global X Physical Gold Structured9.5%
  • ETPMPT · Global X Physical Platinum Structured19.7%
  • ETPMAG · Global X Physical Silver Structured48.2%
  • Granada - Super Fund (Adviser Product)13.2%
  • Hejaz Equities Fund (Managed Fund)0.1%
  • ISLM · Hejaz Equities Fund Active ETF (ISLM)0.1%
  • Hejaz Global Ethical Fund0%
  • HJHI · Hejaz High Income Active ETF (HJHI)0.1%
  • Hejaz Income Fund0.1%
  • SKUK · Hejaz Sukuk Active ETF0%
  • ICFAL Children's Education Fund3.8%
  • ICFAL General Membership (Co-operative Share Account)3.8%
  • ICFAL Hajj Fund2.8%
  • MCCA Income Fund4.1%
  • Meezan Invest - Ethical Growth (Adviser Product)5.9%
  • Meezan Invest - Ethical Growth Plus (Adviser Product)4.5%
  • Meezan Invest - Islamic (Ethical) Growth5.1%
  • PMGOLD · Perth Mint Gold Structured Product9%
  • Salaam Balanced6.9%
  • Salaam Defensive5.2%
  • Wahed Dow Jones Islamic World ETF (US ETF)49.3%
  • Wahed FTSE USA Shariah ETF34.4%
  • Wholesum Responsible Fund Inception 01/07/2026 (Retail)4.2%