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 Qatar operate under Qatar Central Bank requirements with their own Shariah supervisory boards. 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 Qatari banks share the same grade?

Because their public disclosure profiles genuinely are similar. Every Islamic bank in Qatar maintains a formal Shariah board, 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 pricing formulas instead of pointing to a tariff schedule, 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 Qatar

The Halal Money Index

Every Qatari 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 Qatari 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 31 provider grades published so far, 24 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 →

Mudaraba savings, Qard current accounts and term deposits from QCB-licensed, full-fledged Islamic banks.

A
Qatar Islamic Bank (QIB)High confidence
Qatar's largest Islamic bank publishes its deposit rate sheet, and the Flexi CD discloses a full 95/5 mudaraba split with the loss clause in print.
QIB publishes expected profit rates across its deposit shelf, from 0.90% to 1.45% on fixed deposits up to 4.15% on the ten year Growing Deposit, and the Flexi CD sets out its 95/5 mudaraba split, incentive clause and loss allocation. A formal Shari'a Supervisory Board chaired by Sheikh Dr. Walid Bin Hadi signed the fiscal 2025 attestation in the annual report. The savings and Misk accounts still leave their own rates unpublished, 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
Dukhan BankHigh confidence
Dukhan publishes the only ledger of actually paid deposit rates in Qatari retail banking, with monthly history back to 2019.
Dukhan's historic rate table shows what each account actually paid from 2019 through 2025, including Faseel at 3.00% and Exceptional at 3.25%, turning expected rates into verifiable ones. Its three scholar Shariah and Fatwa Advisory Board issues binding decisions and the bank publishes annual Shariah and Zakat reports. The institution was created by the 2019 merger of Barwa Bank and IBQ and held QAR 129.2 billion in assets at H1 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
AlRayan BankHigh confidence
AlRayan publishes its actual Mudaraba contract templates and the Al Thahabi tier table, backed by a named three scholar Sharia board.
AlRayan publishes the Mudarib profit share per deposit type, a 2.00% to 3.00% tier table for Al Thahabi and the term deposit Mudaraba contract itself, contract disclosure no Qatari peer matches. Oversight is a named three scholar Sharia Supervisory Board chaired by Sheikh Dr. Waleed Bin Hadi. The term deposit rate grid is published only as a graphic and eligibility thresholds differ sharply by nationality.
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
Qatar International Islamic Bank (QIIB)High confidence
QIIB prints the cleanest deposit disclosure in Qatar: seven term deposit tenors from 2.25% to 4.00% plus a full retail tariff booklet.
QIIB publishes its whole term deposit ladder, 2.25% at one month to 4.00% at three years, along with a 0.50% savings rate and a tariff booklet that itemizes every fee down to the QAR 10 dormancy charge. Its Sharia Supervisory Committee is named, chaired by Sheikh Dr. Walid Bin Hadi. The bank dates to Amiri Decree No. 52 of 1990 and has been listed on the Qatar Stock Exchange since 1997.
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

Islamic Home Financing

Compare all islamic home financing options →

Murabaha and Ijarah home finance from Qatar's full-fledged Islamic banks.

A
AlRayan BankHigh confidence
The most transparently priced home finance in Qatar: the QMRO benchmark, the spread and the contract templates are all public.
AlRayan prices home finance at QMRO plus 1.25 to 1.50 points against salary, with the benchmark level and its effective date published, so the rate is computable before any branch visit. A 3.50% APR promotion ran on QAR 1 million plus financings through 31 August 2026 with QCB financing to value caps stated per borrower class. The murabaha facility contracts are downloadable and a named three scholar board oversees the products.
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-
Qatar Islamic Bank (QIB)High confidence
Strong eligibility disclosure per borrower class from Qatar's largest Islamic bank, but pricing is quoted only in application.
QIB publishes down payments, salary floors, debt burden caps and age bands per borrower class for its murabaha home finance, and complimentary life Takaful is included. Profit rates are not published online and are quoted in application. The Shari'a Supervisory Board of Sheikh Dr. Walid Bin Hadi, Sheikh Dr. Abdulaziz Al-Qasar and Dr. Mohamad Ahmaine reviews all 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-
Qatar International Islamic Bank (QIIB)High confidence
The most aggressive published mortgage terms in Qatar, 80% of property value over 360 months, though the rate is quoted in branch.
QIIB publishes financing up to 80% of property value over up to 360 months with construction and renovation in scope, the strongest headline mortgage terms in Qatari Islamic banking. The profit rate itself is not printed and is quoted in branch. The named Sharia Supervisory Committee chaired by Sheikh Dr. Walid Bin Hadi covers the murabaha and istisna structures.
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-
Dukhan BankHigh confidence
The only Qatari bank that documents its home finance contract mechanics: a named Ijara lease to own with Ministry of Justice notarisation.
Dukhan names and explains its Ijara lease to own structure, including the Ministry of Justice notarisation that makes the ownership transfer real, and offers construction finance to QAR 7.5 million. Rental rates float on QCB linked benchmarks but the figures themselves are quoted only in application. The three scholar Shariah and Fatwa Advisory Board takes binding decisions on all 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

Islamic Car Financing

Compare all islamic car financing options →

Murabaha and Ijarah vehicle financing without conventional interest mechanics.

A
Qatar International Islamic Bank (QIIB)High confidence
The price discovery benchmark of Qatari auto finance: 5.60% to 5.85% fixed printed on the page, plus a 4.6% APR green car rate.
QIIB runs the only published financing rate card in Qatari Islamic banking: vehicle finance at 5.60% to 5.85% fixed by salary segment with instalment math you can check, and Green Car Financing at 4.6% APR on new electric and hybrid cars. Rates are fixed for the term. The named Sharia Supervisory Committee oversees 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
AlRayan BankHigh confidence
Car finance priced like a utility: QMRO plus 1.50 points computes to 5.85% from public documents, commodity fee included.
AlRayan's car finance rate is computable from public documents, QMRO plus 1.50 points against salary or plus 1.25 for Premier customers, which was 5.85% or 5.60% at the December 2025 benchmark level. The QAR 91.25 commodity fee and the tawarruq contract architecture are also published. A named three scholar board stands behind the 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-
Dukhan BankHigh confidence
Dukhan publishes the limits, QAR 2 million over six years for Qataris with free life Takaful, but not the rate.
Dukhan publishes its vehicle finance caps, QAR 2,000,000 over 6 years for Qataris and QAR 400,000 over 4 years for expatriates with a QAR 10,000 salary floor, and includes free life Takaful on the financed amount. The profit rate is advertised as attractive but quoted only in application. Oversight is the named three scholar Shariah and Fatwa Advisory Board with binding 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+
Qatar Islamic Bank (QIB)Medium confidence
Zero down payment for Qataris and app based approval with no processing fees, but no profit rate or fee numbers are published.
QIB's auto murabaha offers zero down payment for Qataris on financing up to QAR 2 million with same day purchase orders and no processing fees. No profit rate is published anywhere; pricing varies by vehicle type and plan and is quoted in application, which caps the cost score. The named Shari'a Supervisory Board reviews all retail products.
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

Halal Investing

Compare all halal investing options →

Shariah-compliant mutual funds, ETFs, brokerage services and savings certificates.

A
Al Rayan InvestmentHigh confidence
QATR's 0.50% all in TER cap and a quarterly reviewed Islamic index make it the cleanest way to own Islamic Qatar.
The Al Rayan Qatar ETF caps its total expense ratio at 0.50% with no entry, exit or performance fees and tracks the 21 stock QE Al Rayan Islamic Index with quarterly reviews. The Al Rayan GCC Fund adds a 16 year, 212.9% net track record at a published 1.25% management fee. Both rely on AlRayan Bank's named Shariah Supervisory Board.
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-
The First InvestorHigh confidence
A 2012 vintage Shariah GCC equity fund whose public paper trail, including its 1.50% management fee, stops at the May 2019 factsheet.
TFI's GCC Equity Opportunities Fund published full fee terms, 1.00% subscription, 1.50% management and a 10% performance fee over a 10% hurdle, but its last factsheet is dated May 2019. The manager is a wholly owned Dukhan Bank subsidiary under group Shariah supervision, with no fund level fatwa or named fund scholars published. The stale disclosure trail is the main caution.
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+
QInvestMedium confidence
Top tier scholar credibility with Sheikh Nizam Yacouby on an AAOIFI aligned board, but no fund fees, NAVs or minimums are published.
QInvest's three scholar Shariah Supervisory Board, established per AAOIFI and QFCRA directives and including Sheikh Dr. Nizam Yacouby, is among the most credible in the region. Asset management runs through the Epicure joint venture for institutional and high net worth clients, and no fees, minimums or fund terms are published, which caps the cost score. Incorporated 2007 under QFC licence 00048.
Score breakdown
Shariah integrity
35/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Lesha BankMedium confidence
A named three scholar board and deal by deal transparency on alternatives, but fees are quoted per mandate.
Lesha Bank is the first independent Shariah compliant bank authorized by the QFCRA and is listed on the Qatar Stock Exchange, with deal level Shariah due diligence by a named three scholar board. Its alternatives program publishes named deals with disclosed outcomes, including a 19% net IRR private equity exit, but wealth management fees and minimums are quoted per mandate rather than published, which caps the cost score. Assets under management grew from QAR 5.24 billion in 2022 to QAR 13.26 billion in 2025.
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 Retirement

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Shariah-compliant savings plans and long-term deposits for retirement.

B+
Qatar Islamic Insurance (QIIC)Medium confidence
The only documented family takaful savings plan in Qatar, run under QIIC's named three scholar board, though current return assumptions are unpublished.
QIIC's Aman program is the only documented family takaful savings plan in Qatar, splitting each contribution between takaful protection and mudarabah managed savings, with a published worked example at QAR 1,000 per month. The illustration's 7% average return dates from a 2008 era policy and current assumptions are not published. QIIC's named three scholar board and thirty year surplus record anchor the governance.
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

Takaful

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Family and general takaful operators licensed to write cover in Qatar, from motor to savings plans.

A
Qatar Islamic Insurance (QIIC)High confidence
Qatar's first Islamic insurer has declared a policyholder surplus every year since 1995, currently 15%, and disclosed its wakala fee cut to 30%.
QIIC has declared a policyholder surplus every year since operations began in 1995, now 15%, with cumulative distributions exceeding its QAR 150 million paid up capital, a record no Qatari peer matches. The wakala fee was cut from 33% to 30% of gross contributions in January 2024 with Sharia board approval, and the named three scholar board reports to the general assembly. AM Best rates the group A-.
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
General TakafulHigh confidence
The lowest disclosed wakala fee in Qatar at 20% and the only published individual medical price table, QAR 420 to 925 per year.
General Takaful discloses a fixed 20% wakala fee, the lowest in Qatari takaful, plus a 70% mudaraba share, and is the only operator publishing individual medical prices on page, QAR 420 to QAR 925 across five plans. Its full Fatwa and Shariah board is named and pictured, chaired by Prof. Dr. Ali Al-Quradaghi. Accumulated policyholder deficits of QAR 27.2 million have been absorbed by shareholders.
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
Beema (Damaan Islamic Insurance)High confidence
Beema publishes the fullest takaful fund mechanics in Qatar plus the market's only on page life price at QR 120 per year.
Beema publishes its separated policyholder account, the mudarib share raised to 70% from 1 July 2023, pro rata surplus distribution and charity treatment on liquidation, the fullest fund mechanics on any Qatari takaful site. Its individual life takaful prints QR 120 per year for QR 50,000 of cover on the public page. Qatar's largest takaful writer at QAR 605 million of FY2025 contributions, with a named board chaired by Sheikh Dr. Waleed Bin Hadi.
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
Alkhaleej TakafulHigh confidence
Qatar's oldest insurer discloses its full 26% wakala plus 70% mudaraba model and flat QAR 50 to 150 personal accident pricing.
Alkhaleej discloses its complete operator economics, a 26% wakala fee plus a 70% mudaraba share, and publishes flat personal accident plans at QAR 50 to 150 per year. Its Fatwa and Sharia Supervisory Board is headed by Prof. Dr. Ali Al Qaradaghi per annual report disclosures, though scholars are not named on the consumer site. FY2025 closed with a QAR 29.3 million policyholder fund deficit and no surplus distribution since 2022, a real caution for participants.
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
Doha TakafulMedium confidence
An A- rated group stands behind claims, but the takaful arm publishes no prices, no fee model and no current Shariah board roster.
Doha Takaful operates under a QCB Islamic license with QAR 150 million capital and group level S&P and AM Best A- ratings, and its motor benefits are genuinely competitive. But the company publishes no premiums, no wakala or mudarib terms, no surplus history and no current Shariah board roster; the chairman is known only from a 2021 group announcement naming Prof. Al-Qara Daghi. Until it publishes its governance and economics, the grade stays capped.
Score breakdown
Shariah integrity
24/35
Transparency
16/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Personal Financing

Interest-free personal financing, from Qard Hasan lenders to Shariah-certified installment purchasing.

A
Dukhan BankHigh confidence
A published flat fee grid on the 0% salary advance and a zero cost GRSIA retiree program alongside board approved Murabaha.
Dukhan publishes the full fee grid of its zero profit salary advance, QAR 200 to 1,150 by salary tier, and runs a genuinely free GRSIA retiree facility at 0% with deductions capped at 25% of pension. The standard murabaha personal finance rate is quoted in application rather than published. The named board's approval is displayed on the product 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
A
Qatar Islamic Bank (QIB)High confidence
Same day murabaha with no processing fees plus a genuine 0% Qard Hasan for retirees under QIB's named board.
QIB's personal finance delivers same day money with no processing or administrative fees, up to QAR 2 million for Qataris, and its Qard Hasan for retirees is a true 0% benevolent loan with a 25% pension deduction cap. The murabaha profit rate itself is quoted in application rather than published. QIB's named three scholar board reviews all retail contracts.
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
Qatar International Islamic Bank (QIIB)High confidence
Fixed 5.60% to 5.85% by salary segment, printed on the page and locked for the whole term.
QIIB publishes fixed personal finance rates of 5.60% to 5.85% by customer segment, locked for the finance period, the only printed personal rate card in Qatari Islamic banking. Maximum amounts and tenors are not published, the one gap. The named Sharia Supervisory Committee oversees 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
AlRayan BankHigh confidence
The best documented personal finance in Qatar: public contracts, a public price formula and a deposit secured variant at 2% over your own deposit rate.
AlRayan publishes the tawarruq contract, the QMRO plus 1.25 to 1.50 point price formula and the QAR 91.25 commodity fee, so the full cost of its personal finance is knowable in advance. A deposit secured variant prices at 2% over the customer's own deposit rate. The named three scholar Sharia board publishes the contract templates it approves.
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

Islamic Business Financing

Compare all islamic business financing options →

Murabaha, Musharakah and Ijarah financing for farms, micro-enterprises and small businesses.

A-
Dukhan BankHigh confidence
Names six contract types including commodity murabaha, with verifiable mandates like Doha Festival City, but publishes no rate card.
Dukhan's corporate finance shelf is the most structurally explicit in Qatari Islamic banking, naming goods murabaha, commodity murabaha, istisna'a, forward ijara, wakala and ijara, with sukuk and syndication capability evidenced by real mandates. No corporate rate card or fee schedule is published, which caps the cost score. The named board's decisions bind all 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-
Qatar International Islamic Bank (QIIB)High confidence
Mazaya's eligibility math is published to the percentage point, up to QAR 500,000 with no collateral, though the profit rate is not printed.
Mazaya SME finance publishes its full eligibility formula, up to QAR 500,000 capped at 20% of annual deposits with 200% instalment coverage and no collateral required. The profit rate is advertised as competitive but not published. QIIB's named Sharia Supervisory Committee covers the murabaha, musawamah and istisna structures.
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-
AlRayan BankHigh confidence
A fiqh literate corporate toolkit from murabaha to istisna'a, but pricing is negotiated per deal with no published numbers.
AlRayan's corporate page correctly distinguishes murabaha variants and ijarah muntahia bittamleek mechanics before selling anything, and the post merger bank brings QAR 182 billion in assets. No corporate rate card or fee schedule is published and every deal is priced individually, which caps the cost score. The named three scholar board approves the contract set.
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+
Qatar Islamic Bank (QIB)Medium confidence
The default SME bank in Qatar with the broadest Islamic financing shelf, but no published business pricing.
QIB's Aamaly tier gives SMEs a reserved call line, a dedicated branch and the market's broadest Islamic financing shelf from musawamah purchases to wakala. Financing rates are quoted per facility after credit assessment and never published, which caps the cost score. The named Shari'a Supervisory Board reports annually to the general assembly.
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
Qatar Development Bank (QDB)High confidence
The cheapest Islamic capital for Qatari SMEs, capped at 5% over 15 years, but QDB publishes no Shariah board of its own.
QDB's direct financing caps profit at 5% over tenors to 15 years with grace periods, agriculture programs start at 1%, and Tasdeer export finance runs at 3 to 5% with takaful credit insurance from 0.2%. The bank converted to a fully Islamic model from 2010 under the QCB directive, but it publishes no Shariah supervisory board or fatwas of its own, which caps the Shariah integrity score. Founded 1997 as the state development bank.
Score breakdown
Shariah integrity
10/35
Transparency
20/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Education Financing

Interest-free student financing for post-matric education.

Grades for this category are in final editorial review and publish here first.

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.qa/halal-money-index. Accessed 2026-08-06.

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.