HalalWallet (halalwallet.ae) compares Shariah-compliant investing options in the UAE: government Retail T-Sukuk, National Bonds Mudarabah savings and Term Sukuk, DFSA-regulated halal robo-advisors (Sarwa, StashAway MENA), and baraka's Sharia-screened brokerage. Founded by Robert Mallon and Kyle Natter, and backed by Niya, a Silicon Valley venture studio, HalalWallet provides independent Halal Transparency Scores and side-by-side comparisons of fees, minimums, and Shariah governance so UAE investors can build halal portfolios.
Halal Investing in the UAE
Government T-Sukuk, National Bonds Mudarabah savings, DFSA-regulated halal portfolios, and stock screening apps compared on fees, minimums, and who actually oversees the Shariah screening.
Reviewed quarterly and updated when provider data, product availability, or pricing changes.
Top Picks
Top Halal Investing Providers
Every provider reviewed against published disclosures: fees, minimums, and the Shariah governance actually documented.
Ranked by Halal Money Index grade: disclosed Shariah governance, transparency, pricing disclosure and track record. Not sponsored.
National Bonds Corporation
AMudarabah (fixed-term savings plan)
Best for: Savers with AED 10,000 or more who want short flexible Shari'a-compliant tenors and a weekly-updated anticipated rate instead of an after-the-fact distribution.
Shariah Oversight
Sarwa
B+Screened ETF and sukuk portfolio (robo-managed)
Best for: Hands-off investors in the UAE who want an automated, diversified halal portfolio with local support and AED funding rails.
Shariah Oversight
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Choose Your Halal Investing Strategy
Click a strategy to filter providers below, or explore the full strategy guide.
Diversified ETFs
Low-cost halal ETFs for steady, long-term wealth building
Managed Portfolios
Let experts build and manage your halal portfolio for you
Stock Picking
Screen and select individual Shariah-compliant stocks yourself
Income / Sukuk
Prioritize steady halal income through sukuk and income funds
Gold & Real Assets
Hedge inflation with Shariah-compliant real assets
Retirement
Build a Shariah-compliant retirement portfolio
How Halal Investing Works in the UAE
AAOIFI-aligned screening, DFSA-regulated platforms, and the governance differences that separate providers
AAOIFI-Aligned Screening
UAE halal platforms screen against AAOIFI-based standards: the business must be halal, and financial ratios (interest-bearing debt, non-compliant income) must stay under published thresholds. baraka's in-app Sharia Screener labels 1,500+ stocks and ETFs against these guidelines.
Sovereign Sukuk for Individuals
The UAE Ministry of Finance's Retail T-Sukuk initiative offers fractional government Islamic Treasury Sukuk from AED 4,000 through Emirates NBD's ENBD X app: federal-government Islamic instruments, open to individual investors.
National Mudarabah Savings
National Bonds runs the world's first all-in-one Shariah-compliant national savings scheme: Saving Bonds from AED 100, Term Sukuk from AED 10,000, and automated myPlan debits from AED 100 a month. Up to 4.45% was distributed for 2025 by product weightage.
DFSA-Regulated Platforms
The halal robo and brokerage apps operate from the DIFC under DFSA regulation: Sarwa (the UAE's first robo-advisor, launched 2017), StashAway MENA (Shariah portfolios launched August 2025, DFSA licence F006312), and baraka.
Fund-Level Certification
The managed portfolios hold instruments certified at fund level: Shariah-screened equity ETFs (including iShares Islamic ETFs), global Sukuk funds in place of conventional bonds, and gold. Platform-level screening varies, so check who certifies what.
Start Small
Entry points are low: National Bonds Saving Bonds from AED 100, baraka fractional shares from $1, Sarwa managed portfolios from $500, StashAway with no minimum, and T-Sukuk from AED 4,000.
What a halal portfolio can look like
Example allocations to illustrate how Shariah-compliant investing works in practice. These are not financial advice - consult a qualified advisor for your personal situation.
Moderate risk: a blend of growth and income for most investors.
Core growth engine
International diversification
Stability & income
Inflation hedge
This is an illustrative example only and does not constitute investment advice. Actual allocations should be based on your financial goals, risk tolerance, and consultation with a qualified financial advisor. Past performance does not guarantee future results.
Quick picks by goal
Not sure which provider to start with? Pick a common goal below.
Best for beginners
Hands-off managed investing
- Professionally managed halal portfolios
- Automatic rebalancing & Shariah screening
Best for low-cost investing
Halal ETFs with low expense ratios
- Index-based Islamic ETFs from a 0.50% management fee
- Tradeable through any PSX brokerage account
Best for stock pickers
Screen and trade halal stocks
- Halal stock screeners with AAOIFI-based filtering
- Full control over individual holdings
Compare Halal Investment Platforms
Every row shows a Halal Transparency Score, “best for” guidance, and context-specific CTAs. Toggle between Beginner and Expert views.
Our Analysis
The UAE halal investing market splits into three distinct layers, and we compare all of them. The sovereign layer is unique in the region: Retail T-Sukuk gives individuals fractional access to UAE federal government Islamic Treasury Sukuk from AED 4,000 through the ENBD X app. The national savings layer is National Bonds, whose Mudarabah pool distributed up to 4.45% for 2025 by product weightage, sold in units as small as AED 10 with a AED 100 minimum purchase, weekly-updated Term Sukuk rates, and an automated myPlan debit from AED 100 a month.
The growth layer is the DFSA-regulated platforms. Sarwa, the UAE's first robo-advisor with over $800 million under management per 2026 reviews, builds halal portfolios from Islamic-labelled instruments (iShares Islamic equity ETFs, Franklin Templeton's Global Sukuk Fund, gold) at 0.85% a year under $100,000, falling with balance. StashAway MENA launched Shariah Global Portfolios in August 2025 at 0.2% to 0.8% tiered with no minimum. baraka takes the self-directed route: 20,000+ US stocks and ETFs with an AAOIFI-aligned Sharia Screener labelling 1,500+ securities in real time.
The governance question to ask of each layer is who certifies what. The robo portfolios rely on fund-level Shariah boards of the underlying ETFs, with no independent platform-level screening; baraka labels compliance but leaves purification to you; National Bonds and T-Sukuk carry institutional Shariah structures. Our transparency labels in the table reflect exactly this gap.
Investing is just one of 7 categories. Average score: 63/100.
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Halal Investing Strategies →
Explore 6 proven halal investing strategies. Diversified ETFs, managed portfolios, stock picking, and more.
Halal Portfolio Builder →
See example halal portfolio allocations for your risk level and time horizon, with real fund suggestions.
Halal Transparency Score: How We Score →
Understand how we calculate the Halal Transparency Score, what data we use, and how confidence levels work.
How to Invest Halal →
A step-by-step walkthrough: screening, account setup, and building your first halal portfolio.
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Halal vs Haram Investments: General Screening Principles
Islamic investment screening evaluates companies and financial instruments based on Shariah principles. The following are general guidelines; specific criteria and thresholds vary by Shariah board and screening methodology. Always consult with qualified scholars or use a reputable Shariah screening service.
| Criteria | Generally Halal | Generally Not Permissible |
|---|---|---|
| Industry | Technology, healthcare, real estate, manufacturing, halal food | Alcohol, gambling, pork, tobacco, conventional banking/insurance, adult entertainment, weapons |
| Income Source | Revenue from permissible goods and services | Significant revenue from interest (riba), prohibited activities, or excessive speculation |
| Debt Levels | Companies with low interest-bearing debt ratios (thresholds vary by screening standard) | Companies with excessive interest-bearing debt relative to assets or market capitalization |
| Investment Type | Equities (stocks), Sukuk, real estate, commodities, halal ETFs/mutual funds | Conventional bonds, derivatives, options/futures for speculation, interest-bearing instruments |
This table provides general principles only. Different Shariah boards (e.g., AAOIFI, DJIM, S&P Shariah) may apply different financial ratio thresholds and screening methodologies. What qualifies as halal can differ based on the standard used. Consult with qualified Islamic scholars for guidance specific to your investments.
Choosing the Right Halal Investment
What Does Halal Investing Cost?
Managed Halal Portfolios
Sarwa charges 0.85% a year under $100,000, stepping down to 0.40% above $5 million, plus roughly 0.2% in underlying ETF expenses. StashAway's Shariah portfolios charge 0.2% to 0.8% tiered plus about 0.4% in underlying expenses. Both are DFSA-regulated and automate rebalancing.
A 0.85% fee means roughly $850 per year per $100,000 invested, before underlying expenses.
Self-Directed Screening
baraka has no management fee: you pay trading costs and do your own portfolio construction, using the in-app Sharia Screener's AAOIFI-aligned labels across 1,500+ securities. Purification of non-compliant income slices is your responsibility.
Cheaper on paper, but the screening and purification work transfers to you.
Sukuk and National Savings
Retail T-Sukuk (AED 4,000 minimum via ENBD X) and National Bonds products carry no retail management fee; returns are Sukuk profit or Mudarabah pool distributions. National Bonds distributed up to 4.45% for 2025, varying by product weightage.
Mudarabah distributions are declared after the fact and are not guaranteed.
Which Approach Is Right for You?
You want low-risk parking for savings
National Bonds Saving Bonds (from AED 100, up to 4.45% distributed for 2025) or its Term Sukuk with weekly-published anticipated rates from AED 10,000. Government Retail T-Sukuk adds a federal-instrument option from AED 4,000.
You want a diversified portfolio without managing it
Sarwa Halal Portfolios (from $500) or StashAway Shariah Global Portfolios (no minimum) build globally diversified allocations from Islamic ETFs, Sukuk funds, and gold, matched to your risk level.
You want to pick your own stocks
baraka's Sharia Screener labels 1,500+ US stocks and ETFs against AAOIFI-aligned guidelines in real time, with fractional shares from $1. Remember purification is on you.
You're building a savings habit
National Bonds myPlan automates a monthly debit from AED 100 into the Mudarabah pool, with rewards program eligibility on top.
You're saving for retirement
National Bonds' Golden Pension Plan and Second Salary, or the Shariah-compliant options inside DEWS for DIFC employees. See our dedicated retirement comparison.
Frequently Asked Questions
Zakat & Islamic Finance Resources
Calculate Zakat on your investments and learn about Islamic finance.
Quick Answer
The best halal investment in the UAE depends on your goal. For savings, National Bonds' Mudarabah pool distributed up to 4.45% for 2025 with entry from AED 100, and government Retail T-Sukuk starts at AED 4,000 via the ENBD X app. For long-term growth, the DFSA-regulated managed routes are Sarwa's Halal Portfolios (from $500, 0.85% under $100k) and StashAway's Shariah Global Portfolios (no minimum, 0.2% to 0.8% tiered), both built from Islamic ETFs, Sukuk funds, and gold. Self-directed investors can screen 20,000+ US stocks with baraka's AAOIFI-aligned Sharia Screener from $1.
Key Takeaways
- Three layers exist: sovereign Sukuk (T-Sukuk from AED 4,000), national Mudarabah savings (National Bonds from AED 100), and DFSA-regulated platforms (Sarwa, StashAway, baraka).
- Managed halal portfolios cost 0.2% to 0.85% a year plus roughly 0.2% to 0.4% in underlying ETF expenses.
- Governance differs by layer: robo portfolios rely on fund-level Shariah boards, baraka labels compliance but leaves purification to you.
- Mudarabah distributions are declared after the fact and never guaranteed; judge providers on their distribution history.
- Retirement routes include National Bonds' Golden Pension Plan and the Shariah-compliant options inside DEWS for DIFC employees.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-06
How to cite this page
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Halal Finance Score
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Average score: 63/100
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.