A boutique asset management firm specializing
in socially responsible and halal investing.

 

About

ShariaPortfolio

At ShariaPortfolio Canada, Inc., we offer professionally managed investment solutions that help Muslims achieve their life goals while honoring their personal values. We know that our clients have different financial needs so we provide a full range of investment options, including our Access personal wealth management services and our Institutional service for Advisors who wish to offer halal options to their clients.

With over 15 years of experience working in diverse market conditions, we apply a rigourous research and analytics approach to wealth management, focusing on value investing for long-term results. ShariaPortfolio Canada, Inc. is pleased to offer its brand of Sharia-compliant investment services in many countries around the world.

Sharia-Compliant Investing

ShariaPortfolio manages all portfolios in accordance with the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and under the guidance of our ethical advisor, Imam Omar Suleiman. Our investment choices are Sharia compliant, or halal, which means they are permissible under Islamic guidelines.

To be Sharia compliant, companies and investments must pass several screens for permissible asset classes and business activities. Stocks and Islamic ETFs are eligible for Sharia compliance consideration but preferred shares and interest-paying securities are not. A business activities screen excludes companies that derive more than five percent of their total income from non-compliant income sources.

Non-Compliant Income Sources:

  • Alcohol
  • Gambling
  • Weapons
  • Tobacco
  • Adult Entertainment
  • Pork Products
  • Highly-Leveraged Businesses
  • Interest-Based Businesses
  • Music, Cinema or Broadcasting

Our Team

Experienced and trusted professionals working diligently to determine suitable investment strategies
and build custom portfolios that adhere to Islamic principles and personal values.

Speak To An Advisor

Naushad Virji

 Phone: (604) 260-7150 x 801

 Email: naushad@shariaportfolio.ca


Naushad Virji was born in Italy in 1971 but has lived in Florida since 1975. Naushad earned a degree in business administration from the University of Florida and then went on to successfully complete his series 65 NASD examination to become a registered investment advisor representative. Based in our Orlando area office, Naushad is the CEO of ShariaPortfolio.

With an interest in activism and community service, Naushad co-founded the United Muslim Foundation, where he currently serves on the board of directors. Naushad is also on the advisory board of Advance Law, a Washington, DC based legal consulting firm that works with some of the largest companies in the world to help them retain quality law firms that have been carefully vetted to provide superior value.

Living in Longwood, Florida, Naushad is happily married with three children. His personal interests include golf, tennis and spending leisure time with his family.

Nadeem A. Mian

 Phone: (604) 260-7150 x821

 Email: nadeem@shariaportfolio.ca


 

 

Irfan Chaudhry

 Phone: (604) 260-7150 x 823

 Email: irfan@shariaportfolio.ca


 

Sabinah Amershi

 Phone: (604) 260-7150 x 816

 Email: sabinah@shariaportfolio.ca


Sabinah was a successful Client Service Representative at Bank of America before joining ShariaPortfolio in 2015. She started as a Client Service Associate but quickly rose the ranks and became the Client Service Manager and now manages the team of Associates. Her attention to detail and focus on customer care ensure that our clients are in good hands.

Salaudeen
Nausrudeen

 Phone: 604-260-7150 Ext. 826

 Email: salaudeen@shariaportfolio.ca


Salaudeen Nausrudeen is purpose driven marketing executive with 15 years of experience successfully implementing fresh ideas for companies eager to grow in the Islamic Finance space. Creative visionary with the ability to blend new technologies with marketing concepts to engage consumers and expand business reach. Salaudeen is a specialist in marketing and branding in the Islamic Finance and sports marketing.

Frequently Asked Questions (FAQs)

Is there a minimum initial investment to open an account with ShariaPortfolio?

To open an account with our digital Express robo-advisor, the minimum initial amount is $1,000. For our Access personal wealth management service, the minimum initial amount is $100,000. Please note that this can include several accounts with ShariaPortfolio. For example, you may have a rollover IRA, a joint account and an education savings account with us that, together, come to a total of $100,000 or more. Our advisors look forward to working with you to achieve your financial goals!

What do your services cost?

We charge a flat management fee, which ranges between 0.40 percent to 1.50 percent per year, depending on the amount of assets being managed and the type of service provided. Unlike many other advisors, we do not charge fees for making trades nor do we take commissions from mutual fund companies. We are also fiduciaries, which means that we are legally obligated to place our clients’ interests first. At ShariaPortfolio, you can rest assured that you’ll receive unbiased advice and expertise.

How do I know my money is safe with your firm?

ShariaPortfolio uses reputable custodians, such as TD Ameritrade, to hold your portfolio. Clients have 24/7 access to their accounts with no long-term commitments. Your money will be managed according to your objectives, risk tolerance and preferences.

What are the Sharia guidelines used to screen global equities?

The Sharia guidelines are based on the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars, and are as follows:

Asset classes

Only stocks and Islamic ETFs are eligible for Shariah-compliance consideration. Preferred shared are considered to be non-compliant.

Business activities screens

Companies are only to be considered compliant from a business perspective if the cumulative revenue from non-compliant activities and non-operating interest income does not exceed 5% of their total income. Non-compliant income sources include the following:

  • Alcohol
  • Gambling
  • Weapons
  • Tobacco
  • Adult Entertainment
  • Pork Products
  • Highly-leveraged Businesses
  • Interest-Based Businesses
  • Music, Cinema or Broadcasting

Financial screens

The following screens have to be fulfilled to ensure Sharia-compliance according to the defined rules:

  • Interest-bearing debt divided by 12-month average market capitalization should be less than 30%
  • Cash, cash equivalents and short-term investments divided by the 12-month average market capitalization should be less than 30%
  • Cash, cash equivalents and receivables divided by total assets should be less than 30%
  • Cumulative revenue from non-compliant activities and non-operating interest income should not exceed 5% of total income

How do you ensure Sharia compliance?

We rely on IdealRatings, which is the global market leader in screening equities to identify Sharia-compliant equities in an accurate and timely manner. IdealRatings research-based data is audited, approved and used by Sharia scholars in more than 10 countries. Global equities are screened by IdealRatings based on the Sharia rules defined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars.

What is the difference between ShariaPortfolio and a mutual fund?

ShariaPortfolio offers a comprehensive solution to investing that includes a variety of Sharia-compliant stocks and mutual funds. You can think of mutual funds as products being offered by investment companies. Financial advisors like ShariaPortfolio offer services whereby they help investors by managing their investments, which may include mutual funds and individual stocks.

Can I choose some of the stocks to add to my portfolio?

ShariaPortfolio, Inc. is an investment advisory firm registered with the Securities and Exchange Commission. Virji Investments, Inc. launched the ShariaPortfolio brand in 2003. After years of successful growth, ShariaPortfolio became a separate corporation in 2014. The firm now has clients in more than 25 states and around the world.

How long has ShariaPortfolio been around?

ShariaPortfolio, Inc. is an investment advisory firm registered with the Securities and Exchange Commission. Virji Investments, Inc. launched the ShariaPortfolio brand in 2003. After years of successful growth, ShariaPortfolio became a separate corporation in 2014. The firm now has clients in more than 25 states and around the world.

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