India
70 articles tagged “India”
India's Shariah Indices Explained: Nifty50 Shariah, Nifty500 Shariah and BSE 500 Shariah (2026)
With no SEBI Shariah framework, India's Shariah indices are the de facto regulatory layer of halal equity investing. Here is how the Nifty50 Shariah, Nifty500 Shariah, Nifty Shariah 25 and BSE 500 Shariah actually work.
Halal Investing in India (2026): The Complete Guide
India licenses no Islamic banks, so halal money lives in the capital market. This guide covers every verified option: funds, the Shariah ETF, PMS, smallcases, screening apps and gold, with real numbers.
Why India Has No Islamic Banks: The RBI Story, Told Accurately
The world's largest Muslim-minority country licenses no Islamic banks. The reason is legal architecture, not theology: the Banking Regulation Act, an RBI examination that ended quietly in 2017, and a capital market that became the default home for halal money.
Tata Ethical Fund (2026): India's Oldest Halal Fund, Honestly Reviewed
Running since May 1996, TASIS-certified, purification published, Rs 100 SIP entry. Tata Ethical Fund is the anchor of Indian halal investing. Here is what the numbers say, including the ones that flatter it less.
Taurus Ethical Fund (2026): Good Screens, and a Certification Gap You Should Know About
Taurus Ethical Fund prints exact screening thresholds in its SID and keeps idle cash out of interest-bearing instruments. It also carries the most awkward fact in Indian halal investing: TASIS publicly states it does not certify this fund.
Nippon India Shariah BeES (2026): India's Only Shariah ETF, Reviewed
One ticker gives Indian investors TASIS-screened large-cap exposure with no exit load and single-unit entry. It also gives them 17 stocks, a third of the weight in two IT names, and a Rs 55 crore book. The full picture.
Quantum Ethical Fund (2026): Ethical by Mandate, Uncertified by Design
The first new fund in India's ethical category in 15 years is beating its Shariah benchmark. It also publishes no Shariah board, no advisor and no certificate, and folds Jainism into its screen. Both halves matter.
TASIS and Who Certifies Halal in India (2026)
SEBI licenses the advisers and RBI the NBFCs, but nobody licenses the certifiers. Inside TASIS, the Mumbai firm that functions as India's de facto Shariah standards body, and the ledger that lets you verify who is actually certified.
Halal Stock Screening Apps in India (2026): Islamicly vs Musaffa vs Zoya vs Finispia vs IslamicTijarat
Rs 169 a month to Rs 9,999 a year, TASIS-aligned to AAOIFI-based, named scholar boards to none at all. The five halal screening apps serving India, compared on the things that actually differ.
What Makes a Stock Halal for Indian Investors (2026)
Business first, ratios second, purification always. The complete framework Indian investors need to judge whether a stock is halal, including the exact thresholds TASIS applies to NSE's Shariah indices.
Dividend Purification for Indian Investors: The Complete Guide (2026)
Even screened stocks earn slivers of interest, and that sliver reaches you through dividends. How purification actually works in India: the ratios, the calculators TASIS publishes, and what to do with the money.
Halal SIP Investing in India (2026): Every Systematic Route, With Real Minimums
India runs on SIPs: 94.5 million accounts and counting. The halal corner of that market now has real systematic options from Rs 100 a month. Here is every route, with minimums, costs and certification status.
Shariah PMS and Advisory in India (2026): The Complete Landscape
Five SEBI-registered firms run verified Shariah advisory or portfolio management in India, from Rs 5,000 monthly SIPs to Rs 50 lakh PMS mandates. The complete landscape, including who is certified by whom.
SenSage Financial Services (2026): India's Halal-Only Adviser, Reviewed
A SEBI RIA dedicated 100% to Shariah-compliant advisory, with printed screening thresholds and strategies from Rs 1 lakh. The gap: a Shariah board its pages reference but never name. The full picture.
Green Portfolio's Ethical Fund and Smallcase (2026): Zero Fixed Fees, Administered Purification
A Shariah PMS with performance-only pricing and a retail smallcase with administered purification notifications, both monitored by Islamicly. What Green Portfolio does differently, and what rests on a screening platform rather than named scholars.
Zamzam Capital (2026): The Only Named Shariah Board in Indian Retail Investing
Three named scholars with published bios, a signed halal stocks list, and a 900+ stock screened universe. Zamzam Capital is the governance leader of Indian halal retail investing. Here is what it offers and where it is still young.
Geojit Ethical Portfolio PMS (2026): TASIS-Certified Wealth Management, Reviewed
A TASIS-certified multicap PMS from an established Kochi brokerage, verifiable on the certifier's own ledger. What Geojit's Ethical Portfolio offers HNI investors, and what its page does not show.
Vivekam's Shariah Products (2026): TASIS Certification From Rs 5,000 a Month
The same TASIS universe that costs Rs 50 lakh to access through PMS is available at Vivekam from Rs 50,000 lumpsum or Rs 5,000 a month. The catch: a mixed conventional house and unprinted fees. The full picture.
Is Gold a Halal Investment in India? (2026): Physical, Digital, ETFs and the Bond Problem
Physical gold passes. Sovereign Gold Bonds fail on the RBI's own FAQ. Most gold ETFs are uncertified and some hold derivatives. The complete halal gold map for Indian investors, verified against primary sources.
Are Sovereign Gold Bonds Halal? The RBI's Own FAQ Answers the Question (2026)
The question answers itself once you read the RBI's FAQ: Sovereign Gold Bonds pay 2.50% fixed interest, semi-annually, on a debt security that tracks gold. That is riba, and no purification workaround exists.
Is EPF Interest Halal? The Compulsory vs Voluntary Line, Explained From the Fatwa Literature (2026)
Deoband and Karachi's darul iftas agree on the decisive variable: whether the contribution was compulsory or chosen. What that means for your EPF, the VPF trap, and how purification actually works.
Is NPS Halal? An Honest Look at the National Pension System for Muslim Investors (2026)
The fatwa logic that permits EPF interest rests on compulsion, and NPS is chosen. Its schemes are not Shariah-screened and carry interest-bearing debt even at maximum equity. The honest analysis, and what to do instead.
REITs and the Shariah Question in India (2026): The Framework and the Honest Gaps
Real estate income is the classic halal asset class, which makes REITs tempting. But no Indian REIT publishes Shariah certification, and the structures carry debt and interest. The framework for judging them honestly.
Halal Investing for Beginners in India (2026): Starting With Small Amounts in INR
You do not need Rs 50 lakh or a scholar on retainer. A beginner can build a certified halal portfolio in India from Rs 100 a month. The step-by-step path, with real minimums and the mistakes to skip.
Best Halal Mutual Funds in India (2026): All Three of Them, Plus the ETF
The complete list is four products: Tata Ethical, Taurus Ethical, Quantum Ethical and the Shariah BeES ETF. The comparison Indian investors actually need: certification status, real costs, returns and purification support.
Halal Smallcases in India (2026): Zamzam Capital vs Green Portfolio
Model halal portfolios in your own demat account, below PMS money: two verified providers offer them. Zamzam's named scholar board versus Green Portfolio's administered purification, compared honestly.
Wahed Left India: What Happened, and What Replaced It (2026)
The world's best-known halal robo-adviser launched in India around 2020 with plans for SEBI-registered advisory. In 2026, its country selector omits India and its Indian paths return errors. What happened, and who fills the gap.
Islamicly Review (2026): The Incumbent Halal App for Indian Investors
The heaviest scholar board in the category, daily compliance updates with sell-by cutoff dates, and rupee pricing. Also the market's highest annual price and a growing storefront of cross-sold products. The full Islamicly review.
Musaffa for Indian Investors (2026): The Value Pick in Halal Screening
Nearly 5,000 Indian stocks screened, graded C- to A+ ratings, named-scholar governance and the lowest paid-plan price among major halal screeners. Musaffa reviewed for the Indian investor specifically.
IslamicTijarat Review (2026): TASIS-Supervised Screening at Rs 169 a Month
The only screening app whose certifier also screens India's official Shariah indices, at the lowest paid price in the market, with free purification and zakat tools. Also a young platform with visible rough edges. Both truths, reviewed.
Zoya for Indian Investors (2026): The Honest Second Opinion
Zoya explains what AAOIFI screening actually is, admits where scholars disagree, and updates compliance on real reporting cycles. For Indian users it is stocks-only and dollar-billed. Where it fits in an Indian toolkit.
How Many Indian Stocks Are Halal? The 44% Story (2026)
The Shariah-compliant share of BSE-listed stocks rose from 26% in 2021 to 44% in 2025. The data behind India's expanding halal universe, why TASIS counts fewer, and what the growth does and does not mean for investors.
Halal ETFs in India (2026): The Complete, Short List
The entire halal ETF shelf in India: one equity ETF (SHARIABEES) and whichever gold and silver ETFs pass TASIS's published screening. The complete list, the verification steps, and what does not exist.
Are Mutual Funds Halal in India? The Framework and the Four That Try (2026)
The mutual fund structure is not the problem; the holdings are. Why most Indian funds fail Shariah screening, the framework for judging any scheme, and the short list that survives it.
Is There a Halal Stockbroker in India? (2026)
India's Islamic broking pioneer no longer prints a verifiable SEBI registration, and no certified halal broker exists. Why that matters less than it sounds, and the settings that make any ordinary broker workable.
Kerala: Where India's Halal Finance Experiments Actually Happened (2026)
A state-backed Shariah NBFC, India's first certified real estate fund, and one of only two TASIS-verified PMS products: Kerala built all three. The story of India's halal finance laboratory, told from the verified record.
The Concentration Problem in Indian Halal Portfolios (2026)
Screen out the banks and what remains is IT, pharma and consumer stocks. Why every Indian halal portfolio carries the same concentration, what it did to returns in the year to June 2026, and the honest ways to manage it.
NRI Halal Investing in India (2026): What the Verified Record Actually Supports
Gulf-based NRIs built much of India's halal finance story, but the NRI account architecture is interest-bearing by default. What the verified record supports: the account workarounds, one PMS with documented NRI onboarding, and honest gaps.
Banking Without Riba in India (2026): The Honest Playbook
India licenses no Islamic banks, so avoiding riba takes a deliberate stack: zero-interest current accounts, purification on unavoidable savings interest, and the interest-free cooperative sector. The complete, honest playbook.
Current Accounts: The Only Interest-Free Bank Deposit in India (2026)
RBI rules make the current account the one deposit in Indian banking that pays no interest by law. How the rules work, who can open one, and why the famous 'interest waiver instruction' does not exist.
Savings Account Interest: What Indian Muslims Actually Do With It (2026)
Indian law forces savings accounts to pay interest. The documented practice: keep balances lean, track the interest line, and give it to the poor without intention of reward. The complete purification mechanics.
NRI Money and Riba: Halal Cash Options for Non-Resident Indians (2026)
NRE and NRO savings and deposits all pay interest by law. The interest-free option for NRIs is the NRO current account, plus fast routing into screened investments. The honest guide for the Gulf remittance corridor.
Are Cooperative Society Deposits Safe? The Honest Answer for India's Interest-Free Sector (2026)
No interest-free cooperative society deposit in India carries DICGC insurance. What that means in practice, what protections members actually have, and how to assess a society before depositing.
Moneylenders at 60 to 120 Percent vs Interest-Free Cooperatives: The Comparison That Explains the Sector (2026)
Al-Khair documents moneylender rates of 60 to 120 percent a year in the communities it serves. Its own one-time charges run 8 to 18 percent. The comparison that explains why India's interest-free co-ops exist.
Interest-Free Cooperative Credit Societies Explained: What They Are and What Protections They Lack (2026)
India's only organised interest-free finance lives in cooperative law: members-only societies that pay nothing on deposits and lend against service charges. How the model works, and the protections it does not carry.
The Sahulat Network: The Story of India's Interest-Free Finance Map (2026)
Sahulat Microfinance Society is not a lender. It is the promoter, standard-setter and mapmaker of India's interest-free cooperative sector: 51 entities, 122 branches, 14 states as of March 2025.
Al-Khair Co-operative Credit Society: The Complete Guide (2026)
Patna's Al-Khair is the most price-transparent interest-free society in India: published membership costs, doorstep deposits, and printed loan charges of 8 to 18 percent one-time. The complete guide with every caveat.
Bait-Un-Nas'r: Mumbai's 50-Year Interest-Free Institution, Reviewed (2026)
Established October 1976 with INR 11,635, Bait-Un-Nas'r now runs nine branches across Mumbai and Thane with five deposit schemes and five qard hasan loan lines. The complete guide, caveats included.
Janseva Co-operative Credit Society: The Complete Guide (2026)
Janseva's founding resolution commits it to Quran and Sunnah within Indian law. Twelve permitted states, qard-e-hasanah deposits, a debt-rescue-first loan ladder and SHG microfinance. The full guide.
Al-Khair vs Bait-Un-Nas'r vs Janseva: Choosing an Interest-Free Society in India (2026)
India's three most documented interest-free societies differ where it counts: geography, pricing transparency, product depth and doctrine. The side-by-side comparison, built from their own published terms.
Qard Hasan Explained: The Contract Behind India's Interest-Free Finance (2026)
Qard hasan is a loan repaid exactly as borrowed, with any excess for the lender prohibited as riba. What the contract requires, why it is hard to institutionalise, and how India's cooperatives actually apply it.
The True Cost of 'Interest-Free' Loans in India: Service Charges, Annualised (2026)
Interest-free does not mean free. Al-Khair's printed one-time charges of 8 to 18 percent annualise to roughly 16 to 32 percent depending on tenor. The honest arithmetic for every documented product.
Is a Service Charge Riba? The Unresolved Debate at the Heart of India's Interest-Free Sector (2026)
India's interest-free societies charge 8 to 18 percent one-time, or annual-rate charges, on loans they call qard hasan. Cost recovery or riba in function? The debate, both sides, with no false resolution.
Mumbai's Interest-Free Finance Guide: Bait-Un-Nas'r, Janseva and the City's Halal Money Map (2026)
Mumbai is the capital of Indian interest-free finance: Bait-Un-Nas'r's nine branches from Mahim to Mumbra, Janseva's Colaba headquarters, and fifty years of institutional history. The city guide.
Interest-Free Finance in Bihar and Patna: Al-Khair's Home Turf (2026)
Bihar is where India's interest-free cooperative model runs deepest outside Mumbai: Al-Khair's Patna headquarters and six Bihar branches, doorstep deposit collection, and printed loan prices. The regional guide.
Why India Has No Takaful: The Regulatory Wall Explained (2026)
IRDAI licenses zero takaful operators, Indian insurance law contains no takaful provisions, and investment regulations mandate interest-bearing assets. Why halal insurance is structurally impossible in India today.
Is LIC Halal? The Necessity Debate, Documented Honestly (2026)
Published fatwas hold voluntary life insurance impermissible, but some scholars extend necessity reasoning to term cover for breadwinners because India has no takaful. The three positions, labelled by their real weight.
Term Insurance Alternatives for Indian Muslims: The Honest Options (2026)
There is no halal insurance product in India. The real alternatives are self-insurance through savings, debt clearance, and household structures that reduce dependant risk, plus the contested term cover question, faced honestly.
Compulsory Insurance and Islam in India: What the Fatwas Actually Permit (2026)
Motor third-party cover is mandatory under the Motor Vehicles Act, and employer health cover arrives with the job. Published fatwas permit compelled insurance. What counts as compelled, and what to do with claims.
Are Endowment, Money-Back and ULIP Policies Halal? The Clear Case (2026)
Savings-linked insurance fails under every documented scholarly position, including the ones sympathetic to necessity-based term cover. Why the analysis is different, and what to weigh if you already hold one.
Islamic Wills in India: The Complete Guide to Wasiyyah Under Muslim Personal Law (2026)
Muslim wills in India operate under the Shariat Act 1937: bequests capped at one-third, faraid governing the rest, and almost no formality requirements. The complete guide to making yours valid and enforceable.
Yellow's Custom Will for Indian Muslims: The Complete Review (2026)
Yellow is the only mainstream Indian online will platform documenting Muslim personal law support. What the Custom Will delivers, what it costs, what it lacks, and how to use it for a valid wasiyyah.
How to Write an Islamic Will Without a Lawyer in India (2026)
Muslim wills in India need no stamp duty, no attestation formalities and no probate, which makes careful self-drafting legally viable. The step-by-step method, grounded in the documented legal mechanics.
The One-Third Wasiyyah Rule: How Indian Courts Enforce the Boundary of Muslim Testamentary Power (2026)
A Muslim in India may bequeath at most one-third of the net estate, and Indian courts enforce that cap as law. Where the rule comes from, how the consent mechanism works, and what it means for planning.
Muslim Inheritance Without a Will in India: What Actually Happens (2026)
When an Indian Muslim dies intestate, faraid distributes the estate by fixed shares, which is Islamic but not painless: no executor, no succession certificate shortcut, and disputes the deceased could have prevented.
Zakat Calculation in India: Nisab, Assets and Method (2026 Guide)
How to calculate zakat in India: setting your lunar due date, measuring nisab against gold and silver prices in rupees, and working through cash, gold, investments and business assets at 2.5 percent.
IndiaZakat: The Complete Guide to India's Zakat Crowdfunding Platform (2026)
Launched April 2020 by the Association of Muslim Professionals, IndiaZakat pairs India's most detailed zakat calculator with dual-screened cause distribution at zero commission. The complete review.
Zakat Foundation of India: The Institutional Model, Reviewed (2026)
ZFI converts zakat into standing institutions: UPSC coaching with documented results, an orphanage, widow stipends and disaster relief since 2002. The complete review, including the fiqh position donors should understand.
Zakat on Gold Jewellery in India: The Question Every Household Faces (2026)
Indian household wealth lives in gold ornaments, and the Hanafi position most Indian Muslims follow holds jewellery zakatable regardless of use. The rules, the carat mathematics and the school differences, honestly laid out.
Zakat vs Income Tax in India: Two Systems, One Wallet (2026)
Income tax does not discharge zakat, zakat is not deductible as zakat, and the two systems measure different things. How Indian Muslims run both obligations, including the 80G deduction that softens the overlap.