Islamicly Islamicly Halal Stock Screening App
Halal Investing in Karnataka
Shariah stock screening and halal investing app with deep India coverage, screening NSE/BSE names alongside markets in 175+ countries under an AAOIFI-aligned methodology certified by a named three-scholar board chaired by Dr. Mohamed A. Elgari. India pricing is Rs 999 for 1 month, Rs 2,499 for 3 months or Rs 9,999 for 1 year (selected from the site's own country pricing, crawled 2026-08-06). Features include a free portfolio Shariah report card, compliance-change alerts with sell-by cutoff dates, dividend purification insights, zakat calculator, broker integrations (32+ brokers) and pre-built 'Moons' model portfolios; the platform also cross-sells Shariah digital gold and silver, a Shariah-certified ULIP (IRDAI-regulated) and Shariah PMS/smallcase products for Indian investors (crawled islamicly.com 2026-08-06).
Islamicly is the incumbent halal screening app for India, and its governance is its moat: Elgari, Qattan and Hammad are heavyweight AAOIFI-circuit scholars, and the methodology page states its thresholds rather than gesturing at standards. The India experience is genuinely localized - rupee pricing, NSE/BSE coverage, cutoff-date alerts, purification math. The costs of that incumbency are price and sprawl: Rs 9,999 a year is top-of-market, and the app increasingly doubles as a storefront for ULIPs, PMS and digital gold. Pure screeners like Musaffa undercut it on price; IslamicTijarat undercuts it dramatically (Rs 169/month) with TASIS-partnered screening. Pick Islamicly if board pedigree and India-practical alerts justify the premium.
Pros
- Strongest named Shariah governance of any screening app serving India
- India-specific pricing in rupees with a genuinely useful free report card
- Compliance-change alerts include the cutoff date by which to exit a stock, an unusually practical detail
- One app covers screening plus adjacent halal products (gold, ULIP, PMS) for the Indian market
Cons
- Rs 9,999/year is materially pricier than Musaffa ($72/year, about Rs 6,300) for comparable screening
- Cross-selling of gold, ULIP and PMS products blurs the line between research tool and distribution platform
- Compliance ratings have no SEBI or regulatory standing - certification is private
- Some site sections (webinars, blog) date from 2020-2021, suggesting uneven content maintenance
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Product Details
Type
Stock Screener
Screening Method
AAOIFI-aligned screening certified by the Elgari board; published business screen: revenue from non-permissible activities under 5% of total operating income; compliance updated daily with change alerts, sell-by cutoff dates and dividend purification calculations
Islamicly in Karnataka
Islamicly's Islamicly Halal Stock Screening App is accessible to investors in Karnataka, structured as Halal stock screening and compliance-tracking app: India's halal investing shelf is digital, so region matters less than fees, minimums, and who certifies the screening. Islamicly operates across India, so Karnataka residents have full access to this product.
Our Take on Islamicly
Islamicly is the incumbent, full-stack halal investing app for India, and its scholar bench is the best in the market - Elgari, Qattan and Hammad are globally recognized AAOIFI-circuit authorities. The app earns its keep with India-practical features: rupee pricing, NSE/BSE coverage, compliance-change alerts that tell you the date by which to sell, and purification amounts computed per holding. The costs are literal and figurative: Rs 9,999/year is several times Musaffa's price, and the platform increasingly distributes products (gold, ULIP, PMS) whose economics reward Islamicly - treat product recommendations with that in mind.
How Islamicly Works
Screen free
Run the 60-second portfolio Shariah report card; connect your broker to auto-import holdings.
Subscribe for depth
Rs 999/month, Rs 2,499/quarter or Rs 9,999/year unlocks full compliance detail, alerts and purification amounts.
Act through partners
Trade via your own broker; optionally use Moons portfolios, digital gold or the Shariah ULIP through Islamicly's regulated partners.
Financing Structure
Subscription research and distribution platform, not a regulated fund or adviser itself; model portfolios run through SEBI-registered advisory partners, the ULIP through an IRDAI-regulated insurer, and gold through vaulted custody arrangements. Shariah assurance is the platform's private scholar board - India has no Shariah regulatory framework.
In-Depth Analysis
Islamicly positions itself as the world's halal investing super-app, and for India it largely is: alongside daily-updated Shariah screening of Indian and global stocks (with 32+ broker integrations and portfolio auto-import), it distributes Shariah digital gold and silver from Rs 100, 'Moons' pre-built model portfolios run with SEBI-registered advisers, a Shariah-certified ULIP regulated by IRDAI (the only Shariah insurance-linked product in India, which independent industry reporting describes as approved under exceptional circumstances by a foreign Shariah board), and Shariah PMS via partner Green Portfolio (Rs 320 crore smallcase AUM claimed on the page).
Governance is the differentiator. The homepage profiles the board: Dr. Mohamed A. Elgari (AAOIFI Board of Trustees; Shariah Standards Committee; Dow Jones Islamic Index board), Dr. Muhammad Amin Qattan and Dr. Nazih Hammad. The methodology follows AAOIFI, with a printed business screen: revenue from non-permissible activities must stay below 5% of total operating income. India's compliant share of listed stocks displays at about 40% on the site's own market map.
The commercial model deserves clear eyes. Screening subscriptions (Rs 999/2,499/9,999 for month/quarter/year in India) fund the research, but the platform's growth areas are distribution: gold, ULIP, PMS. None of this is improper, and India's absence of any Shariah regulatory framework means private certification is the only kind available - but a user should recognize when a compliance app is also a sales channel.
Shariah Compliance Details
- Named board: Dr. Mohamed A. Elgari (Chairman), Dr. Muhammad Amin Qattan, Dr. Nazih Hammad (islamicly.com, crawled 2026-08-06)
- AAOIFI-aligned methodology; business screen: non-permissible revenue < 5% of operating income
- Daily compliance updates; purification and zakat calculators in-app
- ULIP regulated by IRDAI; Moons via SEBI-registered advisers - the screening labels themselves have no regulatory standing
How Islamicly Compares
Against Musaffa: Islamicly is more India-localized and better-credentialed on scholars, but costs roughly 60% more per year; Musaffa counters with graded ratings and compliance history. Against IslamicTijarat: Islamicly's global coverage and board pedigree versus TASIS-aligned local screening at a fraction of the price. Against Zoya: Zoya wins on methodological candor and flexible pricing, Islamicly on India features and the product ecosystem.
Graded AAOIFI screening at $72/year - the value alternative.
TASIS-supervised India screening at Rs 169/month.
Candid AAOIFI screening with gray-area honesty; US-centric extras.
Bottom Line
The premium, scholar-heavyweight choice for Indian halal investing - worth the price if you will actually use the alerts, purification math and product ecosystem; overkill if you just want halal/haram labels.
Read full Islamicly reviewShariah Compliance & Oversight
Named on islamicly.com: Dr. Mohamed A. Elgari (Saudi Arabia, Chairman; PhD Economics, University of California; AAOIFI Board of Trustees member and Shariah Standards Committee member; boards include National Commercial Bank and Dow Jones Islamic Index), Dr. Muhammad Amin Qattan (Kuwait; PhD Islamic Banking, University of Birmingham) and Dr. Nazih Hammad (Canada; PhD Islamic Law, University of Cairo; Islamic Fiqh Academy Jeddah member). Screening methodology stated as AAOIFI-compliant, with business screen threshold of under 5% non-permissible operating income (crawled 2026-08-06).
Purification: Dividend purification insights and per-holding purification amounts calculated in-app | Zakat: Zakat calculator built into the app
2026-08-06
Why It's Halal
Islamicly prints its Shariah board on the homepage: Dr. Mohamed A. Elgari (Saudi Arabia, Chairman; AAOIFI Board of Trustees member and Shariah Standards Committee member), Dr. Muhammad Amin Qattan (Kuwait) and Dr. Nazih Hammad (Canada), and states its screening follows AAOIFI standards. The published business screen requires revenue from non-permissible activities below 5% of total operating income, with stock compliance updated daily and purification amounts calculated per holding. Honest caveats: it is a research and advisory layer, not a regulator-supervised Shariah scheme - India has no Shariah regulatory framework and app-based compliance ratings carry no SEBI standing; execution happens at your own broker (crawled islamicly.com 2026-08-06).
Regional Availability
Islamicly serves all of India
✓ Available nationwide including Karnataka
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NationwideHalal Investment Growth Estimate
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Total Value
₹3,43,778
Contributed
₹1,30,000
Growth
₹2,13,778
Hypothetical projection. Past performance does not guarantee future results.
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.