{"id":17887,"date":"2022-03-18T14:48:48","date_gmt":"2022-03-18T18:48:48","guid":{"rendered":"https:\/\/azzadasset.com\/?p=17887"},"modified":"2025-02-14T10:21:37","modified_gmt":"2025-02-14T15:21:37","slug":"is-your-financial-advisor-guilty-of-halalwashing-ask-these-5-questions-to-find-out","status":"publish","type":"post","link":"https:\/\/intelliserver.net\/wordpress\/blog\/is-your-financial-advisor-guilty-of-halalwashing-ask-these-5-questions-to-find-out\/","title":{"rendered":"Is your financial advisor guilty of \u2018halalwashing\u2019? Ask these 5 questions to find out."},"content":{"rendered":"\n<p><a href=\"https:\/\/ip1.us\/aam\/blog\/dont-fall-victim-to-halalwashing\/\">Halalwashing<\/a> is when a company makes false or misleading claims about their investment\u2019s <a href=\"https:\/\/ip1.us\/aam\/shariah-compliance-and-governance\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">Shariah compliance<\/a>. Far too often, we see advisors claiming to invest halal for their clients while being intentionally ambiguous.\u00a0<\/p>\n\n\n\n<p>Advisors who promise to manage a portfolio in accordance with <a href=\"https:\/\/ip1.us\/aam\/investing-philosophy\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">Islamic investment guidelines<\/a>, but then lack written policies or procedures designed to ensure that they do what they say they\u2019ll do, are engaging in <strong>halalwashing<\/strong>. Unlike ESG investing which has no set regulations or definitions for what makes something \u201csustainable\u201d, the Islamic financial industry has a renowned institution called the Accounting and Auditing Organizations for Islamic Financial Institutions (<a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/ip1.us\/aam\/shariah-compliance-and-governance\/\" target=\"_blank\" rel=\"noreferrer noopener\">AAOIFI<\/a>).\u00a0<\/p>\n\n\n\n<p>AAOIFI is regarded as the de facto gold standard for Shariah compliance in Islamic finance globally. They outline the general guidelines necessary to label an investment halal. It\u2019s up to the advisory firm to incorporate these into their compliance program. In fact, regulators like the Securities and Exchange Commission (SEC) will audit firms to hold them accountable for any claims they make about <a href=\"https:\/\/ip1.us\/aam\/blog\/halal-investing-101-back-to-basics\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">halal investing<\/a>.\u00a0\u00a0<\/p>\n\n\n\n<p>How can you identify an advisor or <a href=\"https:\/\/ip1.us\/aam\/investing-philosophy\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">investment firm<\/a> engaged in <strong>halalwashing<\/strong>? The best way is to ask questions. Here are 5 questions that I recommend you ask an advisor offering \u201chalal\u201d products:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>Do you have written policies and procedures describing how you\u2019ll invest Islamically for my account (request a summary of them from the compliance officer)?<\/li><li>Are your Shariah investment guidelines in writing (are they incorporated into my advisory agreement)?<\/li><li>What internal testing or third-party auditing is performed to ensure your policies and procedures are followed?<\/li><li>Do you use a Shariah advisory board? What role do they play?<\/li><li>Will you provide me with purification calculations on my portfolio (and do they conform with generally accepted standards)?&nbsp;<\/li><\/ol>\n\n\n\n<p>As a <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/ip1.us\/aam\/understanding-the-muslim-investor\/\" target=\"_blank\" rel=\"noreferrer noopener\">Muslim investor<\/a>, you need the peace of mind that your investments are halal. Behind this label should be a whole set of policies and procedures an advisor is diligently following so that he is genuinely delivering on his promises. You don\u2019t have to buy into the hype of <strong><a href=\"https:\/\/ip1.us\/aam\/blog\/dont-fall-victim-to-halalwashing\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">halalwashing <\/a><\/strong>nor do you have to settle for a misleading label. Instead, demand transparency from your advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Halalwashing is when a company makes false or misleading claims about their investment\u2019s Shariah compliance. Far too often, we see advisors claiming to invest halal for their clients while being intentionally ambiguous.\u00a0 Advisors who promise to manage a portfolio in accordance with Islamic investment guidelines, but then lack written policies or procedures designed to ensure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[9,24],"tags":[860,861,862],"class_list":["post-17887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-halal-investing","tag-halalwashing","tag-islamic-investment-guidelines","tag-shariah-compliance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is your financial advisor guilty of \u2018halalwashing\u2019? Ask these 5 questions to find out. - Azzad Asset Management<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is your financial advisor guilty of \u2018halalwashing\u2019? Ask these 5 questions to find out. - Azzad Asset Management\" \/>\n<meta property=\"og:description\" content=\"Halalwashing is when a company makes false or misleading claims about their investment\u2019s Shariah compliance. Far too often, we see advisors claiming to invest halal for their clients while being intentionally ambiguous.\u00a0 Advisors who promise to manage a portfolio in accordance with Islamic investment guidelines, but then lack written policies or procedures designed to ensure [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/intelliserver.net\/wordpress\/blog\/is-your-financial-advisor-guilty-of-halalwashing-ask-these-5-questions-to-find-out\/\" \/>\n<meta property=\"og:site_name\" content=\"Azzad Asset Management\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-18T18:48:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-14T15:21:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/intelliserver.net\/wordpress\/wp-content\/uploads\/2022\/01\/Dont-fall-victim-to-halalwashing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"809\" \/>\n\t<meta property=\"og:image:height\" content=\"377\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Azzad Asset Management\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/intelliserver.net\/wordpress\/blog\/is-your-financial-advisor-guilty-of-halalwashing-ask-these-5-questions-to-find-out\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/intelliserver.net\/wordpress\/blog\/is-your-financial-advisor-guilty-of-halalwashing-ask-these-5-questions-to-find-out\/\"},\"author\":{\"name\":\"Azzad Asset Management\",\"@id\":\"https:\/\/azzadasset.com\/#\/schema\/person\/bc3577ae09bf890a02d341fc2cbaeb64\"},\"headline\":\"Is your financial advisor guilty of \u2018halalwashing\u2019? 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