How are Halal Money Index grades calculated?

Each provider is scored on Shariah integrity (35 points: the strength and credibility of Shariah oversight, with claims requiring published evidence such as named boards, fatwas and audit reports), transparency (20: whether the board, scholars, methodology and real fee numbers are publicly disclosed, plus how complete the provider's data profile is), cost/value (15: pricing transparency, since publishing actual rates and fees beats hiding them in a Schedule of Charges), and track record (10: at least a year in operation earns full marks, so longevity beyond that adds nothing). A 20-point verified-data credit reflects how recently our editorial team verified the provider's data against its published sources, and it decays when verification goes stale. Up to 4 editor's-pick points recognize documented benefits the rubric can't quantify, awarded only with a published rationale. Missing data is never excused: it scores a conservative floor and is flagged. Every grade is reviewed and approved before publication.

Is a low grade a religious ruling that a provider is not halal?

No. The Index is not a fatwa and HalalWallet does not issue religious rulings. A low Shariah-integrity score most often means a provider has not published evidence of independent Shariah oversight, which is a transparency problem, not necessarily a compliance one. All Islamic banks in the UAE operate under CBUAE Shariah governance requirements with Higher Shari'ah Authority oversight. We encourage every consumer to review a provider's own Shariah documentation and consult a qualified scholar for religious questions.

Can providers pay for a better grade?

No. Grades are computed from the same rubric for every provider and the methodology is published in full on this page. Even the editor's-pick points are capped at 4, positive-only, and require a published rationale. Providers can improve their grade one way: by publicly disclosing stronger Shariah oversight, real rates and fees, and a complete data profile.

Why do most UAE banks share the same grade?

Because their public disclosure profiles genuinely are similar. Nearly every Islamic bank in the UAE maintains an internal Shariah supervision committee (the CBUAE requires it), names its scholars, and publishes oversight detail, so the Shariah-integrity pillar clusters near the top. What separates leaders is the rest: publishing actual expected profit rates and spreads instead of pointing to a fees page, publishing a founding date, and documenting more of the product line. Where the registry can't verify a data point, the provider scores the conservative floor for it.

How often are grades updated?

Grades recompute whenever the underlying registry data changes: new Shariah certifications, new declared rates, fee changes, or new disclosures. Every change is re-reviewed before it publishes. The Index is a living scorecard, not an annual snapshot.

The independent scorecard for halal money in the UAE

The Halal Money Index

Every UAE halal provider, graded from A to B− on a transparent rubric: Shariah integrity, transparency, pricing disclosure, track record, and verified data. Computed from HalalWallet's live provider registry, reviewed before publication, and updated whenever the data changes.

Quick Answer

The Halal Money Index grades every UAE halal finance provider from A to B- on Shariah integrity (35 points), transparency and data completeness (20), cost/value measured as pricing disclosure (15), track record (10), and verified data (20). Up to 4 further points are an editor's pick, awarded only with a published rationale. Coverage is shown for context but never scored. Of the 55 provider grades published so far, 28 earn an A or A-. The rest range from B+ down to B-, the floor grade, which means we don't yet have enough verified information rather than that a provider is bad. Grades are computed from HalalWallet's live provider registry and reviewed before publication.

Islamic Bank Accounts

Compare all islamic bank accounts options →

Mudarabah savings, Qard current accounts and Wakala term deposits from CBUAE-licensed Islamic banks and windows.

A
Dubai Islamic Bank (DIB)High confidence
The world's first full-service Islamic bank prints its Wakala rate sheet, 3.40% to 4.40% expected, and links a downloadable Shariah certificate on nearly every account page.
DIB prints expected Wakala rates across its deposit shelf, 3.40% on the 18-month Maximiser and 4.30% to 4.40% on 3 and 5 year terms, the highest disclosed deposit rates among the UAE big three at the crawl date, and nearly every product page links a downloadable Shariah certificate. The five-scholar ISSC chaired by Prof. Dr. Mohammad Abdul Rahim Sultan Al Olama was appointed by the 2024 General Assembly with CBUAE Higher Sharia Authority approval. Savings account rates are announced quarterly rather than printed, and profit gates are strict: one extra withdrawal can forfeit a month's profit.
Score breakdown
Shariah integrity
34/35
Transparency
20/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Abu Dhabi Islamic Bank (ADIB)High confidence
ADIB names Mudaraba on its deposit pages and publishes the strongest liquid savings headline in the market, 5.25% expected on Ghina plus AED 3 million in draws.
ADIB names its Mudaraba contract in plain language on deposit pages and publishes the profit distribution method, with Ghina savings at a printed 5.25% expected (5.55% with salary transfer) plus AED 3 million in 2026 draw prizes. Its five-scholar Internal Shari'a Supervisory Committee is published at adib.ae with a 2025 Annual Shariah Report. Standard savings and investment deposit rates sit behind a rates link rather than on the page, the one gap in an otherwise well documented shelf.
Score breakdown
Shariah integrity
34/35
Transparency
20/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Emirates Islamic BankHigh confidence
The transparency leader of the UAE big three: eight quarters of actually declared Mudaraba rates and a fully printed Booster Wakala grid to 3.25%.
Emirates Islamic publishes eight quarters of actually declared Mudaraba pool rates for every account variant, the only disclosure of its kind in the UAE, plus fully printed grids for e-Savings (0.50% to 1.50%) and Booster Wakala (to 3.25% with the early-redemption formula included). The four-scholar ISSC chaired by Prof. Dr. Mohammad Abdul Rahim Sultan Al Olama issued its 2025 report on 15 January 2026 within a three-lines-of-defence model. Fully Shariah-compliant since the 2004 conversion of Middle East Bank.
Score breakdown
Shariah integrity
34/35
Transparency
20/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
FAB IslamicHigh confidence
The UAE's largest bank runs its Islamic window with a per-product fatwa PDF and a published 4.00% campaign rate on new savings funds.
FAB Islamic links a fatwa PDF on every retail product page and publishes a campaign anticipated profit rate of up to 4.00% on new savings funds to 31 August 2026, with pool disclosures behind its iSave Mudarabah shelf. The four-scholar ISSC chaired by Dr. Salim Al-Ali met 13 times in 2024 at 100% attendance per the governance report, and the window runs segregated Islamic Treasury and ALCO functions, the deepest architecture disclosed by any UAE window. Unbundled rate cards are not published outside campaigns.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Al Hilal BankHigh confidence
The UAE's fully digital Islamic bank led the instant-access market at a published 5.1% expected on Savings Plus, with campaign tiers to 7% for fresh funds.
Al Hilal's Savings Plus led the UAE instant-access Islamic savings market at a published 5.1% expected (January 2026), with the July to September 2026 fresh-funds campaign printing tiers of 4% to 7%, and the Platinum Covered Card is free for life with its 3.25% and 3.69% monthly Murabaha rates disclosed. The ISSC is chaired by Prof. Dr. Jassim Al Shamsi, himself a CBUAE Higher Shariah Authority member, and a signed annual report appears in the financial statements. A real licensed Islamic bank behind a neobank interface, founded 2008 and fully digital since February 2022.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Ajman BankHigh confidence
Ajman Bank publishes its complete CBUAE-approved annual Shariah report, the best governance disclosure in the cluster, but deposit rates are agreed at booking rather than printed.
Ajman Bank publishes its complete FY2025 ISSC annual Shariah report with CBUAE Higher Shariah Authority approval, the best governance disclosure practice in the cluster, and its Upfront Profit Wakala, which pays the whole term's expected profit at booking with the clawback disclosed in the KFS, is unique in the surveyed market. Deposit rates themselves are agreed per placement rather than published, capping the cost score. Licensed 2008 as the first Islamic bank headquartered in Ajman, with FY2025 assets up 44% to AED 32.9 billion.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Mashreq Al IslamiHigh confidence
The market's most honest deposit paperwork: Mashreq's KFS prints the 90/10 Mudarabah split and reserve mechanics that other UAE banks leave undisclosed.
Mashreq Al Islami's savings KFS publishes what most banks hide: the Mudarabah split is 90% to the bank and 10% to the customer, stated plainly alongside Profit Equalization Reserve and Investment Risk Reserve mechanics, with quarterly realized pool rates and weightages published. The five-scholar committee is chaired by Sheikh Abdullah Bin Sulaiman Al Meneea of Saudi Arabia's senior scholars circle, with full fatwa texts on the site. Current-quarter rates are declared from pool performance rather than promised in advance.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
NBF IslamicHigh confidence
The most accessible Islamic term deposit in the UAE, Wakala from AED 10,000, under an ISSC chaired by the DFM fatwa board's chairman, though rates are agreed at booking.
NBF Islamic's Wakala deposit opens at AED 10,000 for individuals against a market that effectively starts at AED 100,000, the most accessible Islamic term deposit surveyed. The four-scholar ISSC is chaired by Dr. Moosa Tariq Khoory, concurrently chairman of the DFM's Fatwa and Sharia Supervisory Board, with a dedicated Shari'ah Governance Committee beneath it and downloadable fatwas. The anticipated profit rate is agreed at booking rather than published as a card, which caps the cost score.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
ADCB Islamic BankingHigh confidence
ADCB's window prints a full Active Saver tier table to 2.25%, rare deposit disclosure for a window, but adcb.com names none of its ISSC scholars.
ADCB Islamic Banking prints a full Active Saver tier table, 0.40% to a 2.25% peak by balance band with daily accrual, rare deposit-rate disclosure for an Islamic window, and product fatwas are on adcb.com. The ISSC annual report is published at pages 90 and 91 of the 2025 Integrated Report, but adcb.com names no committee members; membership including Dr. Salim Al-Ali is known only from FAB's governance report biographies, which caps the Shariah integrity score. The window has operated since 2008.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Standard Chartered Saadiq (UAE)High confidence
Standard Chartered's Saadiq window states depositor loss-sharing plainly and advertises Wealth$aver to 5% expected, under dual UAE and group Shariah committees with no published UAE roster.
Saadiq's Mudarabah terms state depositor loss-sharing honestly, candor most marketing omits, and Wealth$aver advertises up to 5% p.a. expected with account fees printed (AED 10,000 initial deposit, AED 26.25 fall-below). Governance is dual-layer: a UAE ISSC per CBUAE rules plus Standard Chartered's Global Shariah Supervisory Committee, but no UAE roster is published on sc.com/ae; membership is known via FAB's governance report, which caps the Shariah integrity score. Standard Chartered has operated in the UAE since 1958 with the Saadiq brand since 2007.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Sharjah Islamic BankHigh confidence
The world's first fully converted Islamic bank publishes a 4.80% expected Flexi deposit headline, but its ISSC roster must be excavated from AGM press coverage.
SIB publishes a 4.80% expected headline on its Flexi Long Term Deposit at AED 200,000 minimum with finance available against the deposit, and its product-level Shari'a certificates are downloadable. ISSC membership is verifiable only through AGM press coverage (Dr. Ibrahim Al Mansouri and Dr. Ali Al Janidi renewed 2025); the bank publishes no committee page or annual Shariah report, which caps the Shariah integrity score despite real named scholars. Established 1975 and the world's first full conventional-to-Islamic conversion in 2002.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Ruya Community Islamic BankHigh confidence
The UAE's newest fully Islamic bank has genuinely zero minimums across the personal shelf, but publishes neither its savings rates nor its own ISSC roster.
Ruya is the only surveyed UAE institution with zero minimum balance and zero minimum salary across the personal shelf, opened in under five minutes via UAE PASS. Savings profit rates are declared by the bank rather than published as a card, and Wakala or Mudaraba deposit terms are agreed in-app per placement, so no headline rate is on file. The ISSC chairmanship of Dr. Salim Ali Al-Ali is documented in FAB's 2024 governance report rather than on ruyabank.ae, governance substance exceeding self-disclosure at a bank licensed in 2024.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Islamic Home Financing

Compare all islamic home financing options →

Ijarah lease-to-own, Istisna off-plan and Murabaha home finance from banks and finance companies.

A
FAB IslamicHigh confidence
Published fixed rates from 3.99% with the UAE's first green home discount and a downloadable fatwa on the product page.
FAB Islamic prints fixed home finance rates from 3.99% (1 to 3 years) and 4.19% (5 years) for bundled customers with the unbundled 4.24% to 4.44% tier alongside, plus the market's first published green home discount and a fatwa PDF on the product page. Grace periods, partial settlement rights and processing waivers are itemized. Best pricing requires the salary transfer plus card bundle, the main conditionality.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Ajman BankHigh confidence
The KFS names every contract role and prints the EIBOR formula with its 3.59% floor, and a unique second-rank program layers behind government housing loans.
Ajman Bank's home finance KFS names every contract role and prints the pricing formula, 3-month EIBOR plus 2.75% with a 3.59% floor, plus fees (AED 3,000 pre-approval, 1% processing capped at AED 35,000) and segment income floors. Its second-rank Ijarah program layering behind Sheikh Zayed Housing Program loans is documented by no other surveyed bank. The three-scholar ISSC publishes its full annual report with HSA approval.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Amlak FinanceHigh confidence
The UAE's pioneer non-bank Islamic property financier publishes a fatwa per product and its full fee schedule, with profit rates the one missing number.
Amlak publishes a downloadable fatwa on each product and its complete fee schedule (AED 3,000 application, 1% processing, valuation bands, settlement charges), disclosure exceeding UAE bank practice, and its Istithmari buy-to-let and Tatweer off-plan products occupy genuinely underserved niches. Profit rates are not published and the calculator requires a user-entered rate, capping the cost score. The restructuring fully exited in July 2025 with FY2025 net profit of AED 1.47 billion, so distressed framings are stale.
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Dubai Islamic Bank (DIB)High confidence
Four published contract certificates and a fixed-for-life Ijarah option DIB claims as market-unique, but the actual margins are quoted in application.
DIB publishes four contract-specific Shariah certificates for MyHome (Ijarah, Istisna and Forward Ijarah, Murabaha, Supply and Installation Murabaha) and claims the UAE's only fixed-for-life Ijarah rate, with 85% FTV for nationals, a zero-profit MBRHE tranche to AED 1 million and non-resident finance to 70%. The EIBOR margin itself is quoted in application rather than printed, which caps the cost score. The named five-scholar ISSC reviews all retail contracts.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Abu Dhabi Islamic Bank (ADIB)High confidence
The widest variant coverage in the market, from gifted-land self-build to SZHP partnerships, but no rates, margins or FTV caps are published on the hub.
ADIB's home finance platform has the widest variant coverage in the market: purchase, buyout, non-resident, finance against property, self-build on gifted land, Plot Finance, Under Construction Finance and an SZHP partnership. No rates, margins or FTV caps are published on the hub and pricing is quote-based, which caps the cost score. The named five-scholar ISSC with a published annual report anchors governance.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Emirates Islamic BankHigh confidence
Manzili explains its Ijarah Muntahiya Bittamlik mechanics step by step with 85% FTV and a 0% buyout processing fee, but margins over EIBOR are not printed.
Manzili documents its Ijarah Muntahiya Bittamlik structure step by step, with 85% FTV for nationals, finance to AED 25 million, a 1% processing fee waived entirely for buyouts, and named Takaful partners. Profit rates are EIBOR-linked with margins unpublished, capping the cost score. The four-scholar ISSC publishes an annual Shariah report under the CBUAE Higher Shariah Authority.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Standard Chartered Saadiq (UAE)High confidence
The only Islamic offset mortgage in the UAE, with EIBOR and SCBLR reference tables published and lifetime free property takaful.
SaadiqOne is the only Islamic offset mortgage in the UAE: parked balances reduce the profit charged on outstanding finance, with the EIBOR reference points (3.91% to 4.18%) and SCBLR tenor table (4.25% to 4.60%) published, finance to AED 18 million and lifetime free property takaful. Group-level Shariah review supplements the UAE ISSC, though no UAE roster is self-published, capping the Shariah integrity score.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Sharjah Islamic BankHigh confidence
The most public mortgage pricing in UAE Islamic banking: 3.75% fixed year one, 3.99% reducing after, printed with the fixed-rate menu and no salary transfer required.
SIB prints the most complete mortgage pricing in UAE Islamic banking: 3.75% fixed for year one then 3.99% reducing, a fixed-rate menu of 1, 3 and 5 years (3.75%, 3.99%, 4.25%), the 3-month EIBOR plus 1.75% variable formula, finance to AED 50 million over 25 years, and 85% FTV for Emirati first homes, with no salary transfer required and a AED 10,000 income floor. The published Shari'a certificate program covers its Murabaha products. The ISSC is real but its roster surfaces only in AGM coverage, the one governance gap.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
RAKislamicHigh confidence
Home finance from a published 3.89% reducing with the market's lowest processing fee at 0.525%, though RAKBANK names no scholars on its own site.
RAKislamic advertises home finance from 3.89% reducing with a 0.525% processing fee against the 1% market norm, worth AED 7,125 on a AED 1.5 million financing, and allows free partial settlements to 25% annually after the fixed period. Every product carries an official ISSC fatwa by stated policy, but rakbank.ae names no scholars; membership including Dr. Mohamad Akram Laldin is known only via FAB's governance report, which caps the Shariah integrity score.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
ADCB Islamic BankingHigh confidence
A printed 3.99% headline and FTV to 85%, but the rate is gated to Emirati and Excellency segments and ordinary expat pricing is not published.
ADCB Islamic prints a 3.99% headline on Ijarah home finance with FTV to 85% and finance beyond AED 15 million, hybrid fixed-then-EIBOR structure disclosed. The rate is gated to Emirati and Excellency segments and ordinary expat pricing is quoted by profile, and the ISSC roster is not self-published, both of which cap the score. Mandatory property and life takaful are disclosed upfront.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Mashreq Al IslamiMedium confidence
The full home finance fatwa R-A-I-14-101 with all eight contract documents is published, but pricing is quoted per profile with no numbers on the page.
Mashreq publishes the complete home finance fatwa R-A-I-14-101 enumerating the Ijarah Muntahia Bittamleek structure and all eight contract documents including the gift deed at maturity, unmatched contract transparency. Pricing is quoted per profile with no numbers on the page, and takaful is mandatory exclusively through Sukoon Takaful, both disclosed. The Al Meneea-chaired committee brings senior-scholar authority; the missing rate card caps the cost score.
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Islamic Car Financing

Compare all islamic car financing options →

Murabaha auto finance with fixed profit rates and no conventional interest mechanics.

A
FAB IslamicHigh confidence
Murabaha auto from a published 2.15% flat with the reducing equivalent and a worked total-cost example printed on the page, conditional on the bundled package.
FAB prints Murabaha auto rates in an honest dual format, from 2.15% flat for bundled nationals with reducing equivalents to 6.52% shown, and includes a worked example of total profit on AED 100,000 over 48 months. The product fatwa is downloadable. Best pricing is conditional on the Multi Product Package bundle, the main gate.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Emirates Islamic BankHigh confidence
Intaleq publishes flat and reducing rates side by side from 2.49%, plus a complete fee schedule down to the AED 26.25 EMI date change.
Intaleq publishes flat and reducing rates side by side, new cars from 2.49% flat (4.72% reducing) and certified pre-owned from 3.19%, with the complete fee schedule printed: 1.05% processing, AED 105 deferments, AED 26.25 EMI date change. The starting rates require salary transfer and AED 50,000 monthly income, and buyouts are not allowed, both stated. The four-scholar ISSC publishes an annual Shariah report.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Abu Dhabi Islamic Bank (ADIB)High confidence
ADIB publishes its limits and a 1.79% Volt EV rate, but core car finance pricing is quote-only, the weakest price disclosure of the big three.
ADIB publishes its car finance limits (AED 1 million nationals, 500,000 expats with transfer, 350,000 without) and a 1.79% Volt EV rate for new electric vehicles, but core rates are quote-only, the weakest price disclosure among the big three, which the why records even though the EV rate earns the headline credit. The named five-scholar ISSC with a published annual report anchors governance.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Dubai Islamic Bank (DIB)High confidence
DIB prints its full auto finance band, 2.15% to 6.00% flat with reducing equivalents, at the lowest entry gates of the big three: AED 3,000 salary and no transfer.
DIB prints its full auto finance pricing band, 2.15% to 6.00% flat with 3.93% to 10.98% reducing equivalents by segment, plus the 1.05% documentation fee band, at the lowest gates of the big three: AED 3,000 minimum salary, no salary transfer, financing to AED 1 million for individuals. The product page links its Shariah certificate and the named ISSC stands behind the Murabaha structure.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Ajman BankHigh confidence
Six documented Murabaha tiers from Ajman government employees to exotic cars, with the processing fee capped in print but no published rate card.
Ajman Bank documents six Murabaha tiers, from the Ajman government offer at a AED 4,000 salary floor with fees waived to exotic vehicles at AED 2 million and a 110% cash-collateral secured route, with the processing fee capped at AED 2,500 in print. Rates are quoted per profile with no published card, capping the cost score. The ISSC's full annual report is published with HSA approval.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
RAKislamicHigh confidence
Auto finance advertised from 2.05% with the smallest tickets in the market, AED 10,000, opening Murabaha to used-car buyers.
RAKislamic advertises auto finance from 2.05% (flat-rate equivalent at 60 months, quoted on a reducing basis) and writes the smallest tickets surveyed, from AED 10,000, opening Islamic finance to used-car buyers. Official fatwas are policy per product but no scholar roster is self-published, capping the Shariah integrity score.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Sharjah Islamic BankHigh confidence
Vehicle Murabaha at a published 2.49% flat with the product's Shari'a certificate downloadable, and a AED 5,000 salary floor without transfer.
SIB's Vehicle Murabaha carries a published 2.49% flat standard rate (a 1.79% Ramadan 2025 promotion is expired and excluded), finance from AED 20,000 to AED 1 million, and a published product-level Shari'a certificate. Salary floors start at AED 5,000 without mandatory transfer for listed employers. The unpublished ISSC roster caps the Shariah integrity score.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
CBD Al IslamiMedium confidence
Two formalized installment deferments a year address real household cash flow, but rates are quoted per profile and CBD names no ISSC scholars.
CBD Al Islami allows two installment deferments per year, defers the first payment 45 days and finances the takaful premium, real flexibility features, with up to 80% financing over 60 months. Murabaha rates are quoted per profile, and the bank describes but does not name its ISSC, the thinnest scholar disclosure among windows profiled, which caps both Shariah and cost scores.
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Investing

Compare all halal investing options →

Managed halal portfolios, sukuk, Mudarabah savings plans and Shariah-screened trading platforms.

A
National Bonds CorporationHigh confidence
The UAE's national Mudarabah savings scheme publishes its fatwas and its named Minhaj Advisory board, with 2025 distributions up to 4.45% and entry from AED 100.
National Bonds publishes its four named Minhaj Advisory scholars and the fatwas behind the products, including the Mudarabah Capital Protection and Profit Weightages fatwas, governance disclosure no UAE peer matches, with 2025 returns up to 4.45% distributed to more than a million bondholders holding AED 18 billion. Saving Bonds enter at AED 100 and Term Sukuk rates update weekly, though most products declare profit only after year end and the weekly rates display in-app rather than on the public page.
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
StashAway MENAHigh confidence
Lower fees than Sarwa at 0.2% to 0.8% with no minimum, and an unusually honest disclaimer that compliance rests entirely on the underlying ETF certifications.
StashAway publishes 0.2% to 0.8% management fees with 0.4% average fund expenses, no minimum and no lock-in, undercutting Sarwa on both fees and entry, with a 9.3% average USD return from launch to end-2025 published. Its disclaimer is the market's most honest: portfolios are labelled compliant solely on the underlying ETFs' issuer certifications and StashAway does not certify or verify compliance, which caps the Shariah integrity score. The UAE Shariah portfolios launched August 2025, so the local track record is short.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
SarwaHigh confidence
The UAE's first robo-advisor prices its halal portfolios in print, 0.85% down to 0.40% by tier, but carries no platform-level Shariah board.
Sarwa prices its halal portfolios in print, 0.85% to 0.40% by balance tier plus roughly 0.2% underlying fund costs from a $500 minimum, built from iShares Islamic ETFs, the Franklin Templeton Global Sukuk Fund and a gold ETC. There is no platform-level Shariah board or FSRA Islamic Window endorsement; compliance rests on the underlying funds' certifications and Sarwa itself recommends independent due diligence, which caps the Shariah integrity score. The UAE's first robo-advisor, launched 2017 with over $800 million AUM.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
UAE Ministry of FinanceHigh confidence
Sovereign halal fixed income democratized: T-Sukuk from AED 4,000 against institutional tickets near USD 200,000, under the federal framework and Higher Shari'ah Authority.
Retail T-Sukuk fractionalizes UAE sovereign Islamic Treasury Sukuk to AED 4,000 minimums through ENBD X, against institutional tickets near USD 200,000, a genuine democratization of sovereign halal fixed income under the federal Islamic capital markets framework with the Central Bank's Higher Shari'ah Authority anchoring governance. There is no issuer-level published scholar roster and per-issuance profit rates are not on file, so the framework tier and the caps-only cost score apply, the same treatment Nigeria's FGN Sukuk framework received.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
barakaAwaiting verified dataMedium confidence
An AAOIFI-aligned screener labels 1,500+ securities from $1 a trade, but no Shariah board governs the platform and compliance of any given security is not guaranteed.
baraka's Sharia Screener labels 1,500+ stocks and ETFs against AAOIFI-aligned guidelines inside a DFSA-regulated app with trades from $1, but the platform maintains no fatwa-issuing Shariah board, holds no DFSA Islamic endorsement, offers conventional instruments alongside and expressly does not guarantee the compliance of any security, so the Shariah integrity score sits at the no-public-review floor. Subscription tier pricing renders only in-app, and no founding year is documented on file, so the track record floor also applies.
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026

Islamic Retirement

Compare all islamic retirement options →

Shariah-compliant pension and workplace savings plans, including National Bonds and DEWS options.

A
National Bonds CorporationHigh confidence
Second Salary prints its 3.25% anticipated savings-phase rate and Golden Pension gives mainland employers a Shariah-native EOSB scheme under a named scholar board.
Second Salary prints its savings-phase economics, a 3.25% p.a. anticipated return reinvested monthly on commitments from AED 1,000 a month over 3 to 20 years, with redemption allowed after 90 days, and Golden Pension (launched October 2022) gives mainland employers a Shariah-native end-of-service scheme that predates the government's alternative EOSB framework. The named Minhaj Advisory board and published fatwas anchor governance; Golden Pension scheme fees are negotiated per employer rather than published.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Zurich Workplace Solutions (DEWS)High confidence
DEWS prices its four certified Sharia options to the basis point, 1.26% to 1.79% all-in, but the default fund is conventional so compliance requires an active member election.
DEWS publishes its Sharia option costs to the basis point: 0.20% trustee, 0.80% administrator and 0.23% advice fees plus fund management, totalling 1.26% to 1.79% all-in as of March 2026, with no entry, exit or switch fees, and the HSBC fund's purification-cost carve-out is rare hard evidence that purification is performed. Plan-level governance is conventional trust infrastructure; Shariah compliance lives in the underlying certified funds, and the default fund is conventional, so members must actively elect the Sharia menu.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Takaful

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Family and general takaful operators licensed by the Central Bank of the UAE.

A
Salama (Islamic Arab Insurance Company)High confidence
The 1979 takaful pioneer runs a named three-scholar ISSC with published savings plan minimums from AED 500 per month across the fullest product shelf in the market.
Salama, the 1979 pioneer and the market's oldest operator, publishes a named three-scholar ISSC (Dr. Salim Ali Al Ali chairing) with its annual Shari'a report in the DFM-filed integrated report and an ISSC-approved Zakat methodology, across the fullest documented shelf: two-tier motor with inbuilt personal accident cover, four life plans, savings plans with published minimums (AED 500 per month, AED 100,000 single), four-tier home cover and a Hajj and Umrah travel plan. Motor, life, travel and health contributions are quote-based, and a 2025 solvency episode was disclosed and resolved in April 2026.
Score breakdown
Shariah integrity
34/35
Transparency
20/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Abu Dhabi National Takaful CompanyHigh confidence
The sector's strength benchmark, A- rated ten years running, with a named Shari'a committee and unique covers like war property damage, though base contributions are quote-based.
Abu Dhabi National Takaful is the segment's strength benchmark, A.M. Best A- for ten consecutive years and Fitch A- for four, with a named three-scholar Internal Shari'a Committee and disclosed hybrid Wakala-Mudarabah mechanics via ADIB key facts statements, which also price the motor personal accident add-on at AED 120 plus AED 30 per passenger. Its war property damage home extension and school fee protection plan are unique covers in the market. Base contributions are quote-based with no published premium tables, capping the cost score.
Score breakdown
Shariah integrity
34/35
Transparency
20/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Sukoon TakafulMedium confidence
The world's first conventional-to-takaful convert publishes a Sharia certificate per product under an internationally distinguished named board, but no prices at all.
Sukoon Takaful, the world's first conventional-to-takaful convert (ex-ASCANA, registered 1992), publishes a downloadable Sharia certificate per product under a named board of international stature: chairman Dr. Moosa Khoory and deputy Dr. Ashraf Hashim, who chairs Bank Negara Malaysia's Shariah Advisory Council. The wakala plus mudaraba fund model with participant surplus rights is published, but no premiums, rate tables or numeric fee percentages appear anywhere, so the cost score sits at the no-fee-data floor.
Score breakdown
Shariah integrity
34/35
Transparency
16/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Takaful EmaratMedium confidence
The UAE's only life-and-health takaful monoline publishes its named committee and is two years into a shareholder-funded recovery, but all pricing is quote-based.
Takaful Emarat, the UAE's only life-and-health takaful monoline, publishes its named three-member Internal Shariah Supervisory Committee (appointed at the April 2025 AGM, four meetings in 2025) and returned to the DFM first category in April 2025 after a shareholder rescue wrote off AED 132.43 million of losses, with FY2025 revenue up 45% to AED 610.9 million. No premium tables or rate cards are published anywhere, medical and life quotes run through advisors, so the cost score sits at the no-fee-data floor.
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Methaq Takaful InsuranceMedium confidence
A named three-scholar committee survived the CBUAE's two-year administration, but no rates are published and buyers should verify quotes against active fraud warnings.
Methaq publishes its named three-scholar Internal Sharia Supervisory Committee chaired by Dr. Azzeddine Benzeghiba on methaq.ae, governance disclosure that survived the CBUAE's dissolution of the board in March 2023 and two years of administration before a new board was seated in April 2025 alongside a rights issue. Motor dominates the book and no rates are published, and the company itself warns about fraudulent websites selling fake policies, so the cost score sits at the no-fee-data floor and buyers should verify quotes through official channels.
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Dubai Islamic Insurance & Reinsurance (Aman)Medium confidence
Aman uniquely disclosed its 33% wakala fee in its financial statements, real fee transparency inside a company whose shareholders resolved to exit insurance.
Aman is the only UAE takaful operator on file disclosing its full pool economics: a 33% wakala fee on gross contributions net of fronting, 2% on fronting and 100% on certain unit-linked contracts, approved by its Fatwa and Sharia'a Supervisory Board per the FY2024 financial statements, and it sells motor, travel, medical and home takaful fully online. The board's three members are shareholder-appointed but names are not on file, and shareholders resolved in February 2023 to exit insurance, with both portfolio sales collapsing in 2024 and accumulated losses at 77.3% of capital in 2025, cautions the grade's caps reflect.
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Watania Takaful FamilyMedium confidence
The most transparently documented family takaful range in the UAE, plans from AED 200 per month with a 25-fund Shariah menu, but the ISSC members are not named.
Watania Takaful Family publishes the market's best plan parameters: LifeCare from AED 200 per month with cover from AED 180,000 to AED 30 million, SmartSave from AED 500 per month with a 75% first-year contribution bonus, Pure Protection from AED 1,200 per year, plus a 25-fund Shariah menu with daily NAV disclosure and published exclusions. The ISSC is described as leading Islamic scholars but current members are not named on watania.ae, which caps the Shariah integrity score. Licensed separately (078) within the merged Watania group under DFM-listed Watania International Holding.
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Watania Takaful GeneralMedium confidence
Published benefit limits and an AED 200 million flood claims record stand behind the motor product, but neither contributions nor the scholars are published.
Watania Takaful General publishes concrete benefit levels on motor (AED 2 million third-party property damage, AED 4,000 occupant medical) and the group honoured more than AED 200 million of April 2024 flood claims, a real catastrophe test passed. Contributions are quote-based with no published rate card, and the ISSC members are not named on watania.ae, capping both the cost and Shariah integrity scores. Formed in the July 2022 Dar Al Takaful and Watania merger.
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
Orient TakafulAwaiting verified dataLow confidence
An Al-Futtaim parent and AED 200 million capital stand behind the motor product, but the storefront was dark at crawl time and the Shariah committee is unnamed.
Orient Takaful has a strong parent, 95.78% owned by Orient Insurance within the Al-Futtaim group with AED 200 million paid-up capital, and its comprehensive motor plan bundles agency repair with a 13-month term. But the corporate website was down throughout the crawl, the three Shariah committee members are unnamed in every accessible document, and no rates are published, so the Shariah integrity and cost scores are capped and the confidence is low until the storefront and disclosures return.
What we're missing to score higher:
- Shariah board claim lacks published evidence
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026

Personal Financing

Compare all personal financing options →

Commodity Murabaha cash finance and Shariah-compliant covered cards from Islamic banks.

A
Dubai Islamic Bank (DIB)High confidence
The SHAMS covered card KFS discloses the full Salam mechanics, 3.69% monthly with every fee printed, though the personal finance rate itself is quoted in application.
DIB's covered-card KFS is the fullest disclosure in its personal shelf: the Salam structure with Investment Wakala account, a 3.69% monthly rate, AED 236.25 late-payment charity donation, 0.94% Credit Shield and tiered annual fees with printed waiver thresholds. Al Islami Personal Finance reaches AED 5 million with a 240-day first-instalment holiday and FlexiSalary at zero processing fees, but its profit rates are quoted in application. The named five-scholar ISSC and per-product certificates anchor governance.
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
FAB IslamicHigh confidence
Commodity Murabaha with published fixed rates from 4.79%, grace to 365 days for nationals and a worked total-profit example on the page.
FAB prints fixed personal finance rates by tier, 4.79% for bundled nationals to 7.2% for salary-transfer-only expats, with grace to 365 days for nationals, the 1.05% processing fee capped at AED 2,625, and a worked total-profit example on AED 100,000. The commodity Murabaha fatwa is downloadable. Best rates require the Multi Product Package.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Emirates Islamic BankHigh confidence
The most verifiable consumer Murabaha in the UAE: printed rates from 2.59% flat with reducing equivalents and Nasdaq Dubai certificate custody documented end to end.
Emirates Islamic prints personal finance rates from 2.59% flat (4.74% reducing) for nationals and 2.99% flat for expats, and documents the Murabaha end to end: EI Funding Certificates in USD 10 units deposited at Nasdaq Dubai, sale via Emirates NBD Securities, the broker's commission disclosed and a 3-hour implied-consent window. The Switch Cashback card prints its full earn grid and fee waiver. Salary gates are the highest of the big three at AED 7,500.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Abu Dhabi Islamic Bank (ADIB)High confidence
Personal finance to AED 3 million with a 7-month first-instalment holiday and a disclosed broker commission evidencing the commodity trade, but rates are not printed.
ADIB's personal finance runs to AED 3 million for nationals with a 7-month first-instalment holiday, two postponements a year, and a disclosed broker trading commission that evidences the commodity-trade execution. Card earn rates are printed (4% cashback categories, SHARE grid to 12% intro) but financing profit rates and card fees sit in the KFS and tariff board rather than on pages, capping the cost score. The named five-scholar ISSC publishes an annual Shariah report.
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Al Hilal BankHigh confidence
Fees are published to the dirham in the Schedule of Fees, with free life takaful from November 2025, but the profit rate itself is quoted per profile.
Al Hilal publishes its personal finance fees to the dirham in the Schedule of Fees (1.05% study fee capped AED 2,625, early settlement 1% capped AED 10,000, waived for military employees) and bundles free life takaful on bookings from 27 November 2025. The profit rate itself is quoted per profile, capping the cost score. The ISSC chaired by HSA member Prof. Dr. Jassim Al Shamsi signs a published annual report.
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Ruya Community Islamic BankHigh confidence
The market's most honest pricing page prints 2.90% flat next to its 5.49% reducing equivalent, disclosure practice no incumbent matches.
Ruya prints 2.90% flat per annum with its approximately 5.49% fixed reducing equivalent beside it, the only flat-to-reducing conversion printed on any UAE personal finance page, with terms and the finance takaful scheme documents published and indicative installments shown in-app before applying. The ISSC roster is not self-published (chairmanship documented via FAB's governance report), capping the Shariah integrity score at a bank licensed in 2024.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
CBD Al IslamiMedium confidence
CBD prints both the floor and the ceiling, 5.50% to a 20% maximum with worked illustrations, bounding the customer's worst case in writing.
CBD prints both the 5.50% reducing floor and the 20% ceiling on Murabaha personal finance with worked illustrations in the KFS, rare bounds most banks leave open, plus Quick and Digi finance to AED 150,000 without salary transfer. The ISSC is described but entirely unnamed publicly, the weakest scholar disclosure in the cluster, which caps the Shariah integrity score.
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Sharjah Islamic BankHigh confidence
Goods Murabaha with published Shari'a certificates and a 150-day first-installment grace, though rates are advertised as low rather than printed.
SIB's Goods Murabaha personal finance carries published product-level Shari'a certificates including the DMCC commodity Murabaha, a 150-day first-installment grace and up to 48-month terms, with salary transfer from an approved employer required. Rates are advertised as low but not printed, and the ISSC roster is not self-published, capping both scores.
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

How the grades work

Pillar	Points	What we measure
Shariah integrity	35	Strength of oversight: formal Shariah board (strongest) → third-party certification → named scholar → no public review (weakest). Claims require published evidence; an unsubstantiated “formal board” scores at the named-scholar tier.
Transparency	20	Are the board members named? Is the oversight detail published? Are real fee and rate numbers in plain sight? Plus data completeness: the more of their profile a provider shares, the more they earn. Disclosure always beats silence.
Cost / value	15	Pricing transparency, not price level: publishing actual declared rates, spreads, fees or expense ratios scores; pointing customers to an unpublished Schedule of Charges does not. Where nothing numeric is on file the pillar scores a conservative floor and is flagged.
Track record	10	A legitimacy check, not a longevity contest: at least a year in operation earns full marks. Decades in business don't add points, but brand-new pop-ups and undisclosed founding dates can't hold a top score.
Verified data	20	How recently our editorial team verified the provider's data against its published pages and documents. The credit decays when verification goes stale, so a strong grade cannot coast on old data. Coverage is displayed but never scored.
Editor's pick	4	Positive-only editorial points for real, documented benefits no rubric can quantify. Awarded only with a published rationale. A perfect 100 requires it, but an A doesn't.

Letter scale

A 90+ · A- 85+ · B+ 78+ · B 70+ · B- 0+. B− is the floor: it means we don't yet have enough verified information to score the provider higher, not that the provider is bad. Floor-tier rows show what's missing instead of a numeric score. Products with structural red flags, such as undisclosed riba, are removed from the Index rather than graded.

Verified data decays

Verified data is worth 20 points, a fifth of the grade. Past 30 days without re-verification the credit decays (minus 8, then minus 14 at 60 days, minus 20 at 90) until the data is confirmed again, so stale data cannot keep a strong grade.

The Index is an editorial transparency rating, not a religious ruling or financial advice. Grades are computed from HalalWallet's provider registry, reviewed before publication, and recomputed when the underlying data changes. Confidence labels reflect how complete a provider's verified data is. Providers cannot pay for a grade. See our methodology for how the registry itself is built.

Frequently Asked Questions

How to cite this page

Preferred format:

HalalWallet. “The Halal Money Index.” HalalWallet, https://www.halalwallet.ae/halal-money-index. Accessed 2026-08-22.

For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.

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.