Shariah Compliance

NoorVest’s Shariah Compliance and AAOIFI-Aligned Process

Q: Does the Shariah pronouncement cover every investment or third party?

No. It is explicitly limited to the NoorVest platform and does not extend to third parties involved in its operations. Each security still has to pass the applicable screening process on its own, and that status can change.

Q: What happens if a company becomes non-compliant?

The change is reflected after the scheduled review cycle, and NoorVest notifies affected users. What happens next depends on the advisory agreement, NoorVest’s procedures, tax considerations, and the investor’s circumstances.

Q: How can I verify NoorVest’s Shariah process?

Review the current Amanie pronouncement, the screening thresholds and oversight roles on this page, NoorVest’s team page, and the official AAOIFI standards. Contact NoorVest directly if clarification is needed.

NoorVest provides wealth management and financial planning through a documented Shariah governance process. On February 3, 2026, the Shariah Supervisory Board of Amanie Advisors issued a Shariah pronouncement on the NoorVest investment platform after reviewing its structure and supporting documentation.

The platform runs an AAOIFI-aligned methodology for screening listed securities, conducts quarterly compliance reviews through MuslimXchange, reports purification information annually, and keeps operating controls in place to hold trading to a cash-only basis.

The pronouncement applies specifically to the NoorVest platform and the documents Amanie reviewed. It doesn’t guarantee investment performance, eliminate risk, or extend automatically to unrelated third parties.

Current Shariah reviewFebruary 3, 2026

Reviewing bodyAmanie Advisors Shariah Supervisory Board

Security-screening scheduleQuarterly

Screening frameworkAAOIFI-aligned methodology

Download the Current Shariah Pronouncement

What the 2026 Shariah pronouncement covers

Amanie’s Shariah Supervisory Board reviewed the NoorVest platform structure and these documents:

NoorVest Investment Advisory Agreement
NoorVest Standard Operating Procedures
MuslimXchange Shariah Screening Methodology
NoorVest Financial Planning Agreement
NoorVest Privacy Policy
NoorVest Form ADV

Based on that review, the board’s opinion is that the platform complies with the Shariah principles the pronouncement addresses. The document is explicit that its scope is limited to the NoorVest platform and doesn’t extend to third parties involved in the platform’s operations.

The pronouncement was approved by:

Dr. Mohamed Ali Elgari, Chairman
Dr. Muhammad Amin Ali Al-Qattan, Member
Dr. Osama Al-Dereai, Member

More on NoorVest’s Shariah Supervisory Board and compliance team.

How NoorVest screens listed securities

NoorVest combines business-activity exclusions with financial-ratio screening. A company has to clear both stages to count as eligible.

Business-activity screening

Companies whose primary business falls into prohibited categories are excluded—conventional banking and insurance, gambling, alcohol, pork products, and other activities that don’t satisfy the methodology.

This looks at how a company actually earns its revenue, not just its sector label. A company with an otherwise permissible core business can still need a closer look if some income comes from a prohibited source.

Financial-ratio screening

For companies that clear the business screen, NoorVest applies these AAOIFI-aligned thresholds:

Financial screen	Required threshold	Purpose
Interest-based debt ÷ market capitalization	Less than 30%	Limits exposure to interest-bearing financing
Interest-earning deposits or securities ÷ market capitalization	Less than 30%	Limits interest-generating financial assets
Income from prohibited activities ÷ total income	Less than 5%	Limits revenue from prohibited sources

These ratios shift as a company reports new financials or its market capitalization moves. Passing today doesn’t mean passing permanently.

For the underlying standards, visit the official AAOIFI standards portal.

Who is responsible for each part of the process?

NoorVest’s Shariah governance splits across a few distinct roles:

Responsibility	Party
Review of the NoorVest platform structure and documentation	Amanie Advisors Shariah Supervisory Board
Screening listed securities	MuslimXchange
Oversight of the security-screening methodology	AAOIFI-Certified Shariah Advisor and Auditor associated with MuslimXchange
Portfolio suitability and account review	NoorVest’s Chief Compliance Officer and advisory team

Don’t treat these as interchangeable. Platform-level Shariah review, security-level screening, and investor-specific suitability review are three different questions.

Quarterly monitoring and compliance changes

MuslimXchange reviews listed securities quarterly, timed to company financial statements. A company’s classification can shift because of its business activities, debt, interest-earning assets, prohibited income, or market capitalization.

When a status change turns up in a scheduled review, NoorVest updates the classification and notifies affected users. Any action on the portfolio still runs through the advisory agreement, client circumstances, tax considerations, and NoorVest’s documented procedures.

NoorVest also reviews investment portfolios quarterly—risk tolerance, objectives, time horizon, suitability, asset allocation, rebalancing opportunities, and tax considerations. Financial plans get reviewed at least annually, or sooner if a client asks.

Operational controls

The 2026 pronouncement describes operating controls meant to keep platform activity consistent with what was reviewed:

Margin trading is disabled.
Short selling is disabled.
Securities lending is disabled.
Trades go through on a cash-only basis.
NoorVest earns a disclosed fee for its services rather than guaranteeing a return.

These describe the NoorVest platform specifically. Don’t assume they apply to another fund, security, custodian, brokerage account, or third-party service.

Purification

Purification is identifying the income tied to non-compliant sources when that income stays within what the methodology tolerates. It’s not a loophole—donating part of the proceeds doesn’t make an otherwise prohibited investment permissible.

NoorVest calculates the non-compliant portion of applicable income and reports it to clients annually. The amount and the right response depend on the holdings, the review period, the methodology, and your own circumstances—worth a conversation with a qualified Shariah adviser if you’re unsure what to do with it.

Additional values-based restrictions

Shariah screening is the baseline NoorVest applies. Clients can also layer on their own restrictions—excluding certain industries, environmental preferences, or other priorities.

These client-directed restrictions can change portfolio composition, concentration, tracking, and risk. They’re evaluated separately from the baseline Shariah screens, inside the context of the client’s broader objectives and financial plan.

More on Halal Custom Indexing and integrated financial planning.

Current and previous Shariah documents

Current

Shariah pronouncement—February 3, 2026

Issued by the Shariah Supervisory Board of Amanie Advisors for the NoorVest investment platform and the documentation listed above.

Download the February 3, 2026 Shariah Pronouncement

Shari’ah Compliance with AAOIFI Standards

This certificate was issued by Adl Advisory Sdn. Bhd. and is included here as a previous NoorVest Shariah document. Its scope is limited to the documents reviewed at issuance.

View the previous certificate

Frequently asked questions

Is NoorVest certified directly by AAOIFI?

AAOIFI publishes standards used across Islamic finance, but it isn’t the organization that issued NoorVest’s current Shariah pronouncement. That came from the Shariah Supervisory Board of Amanie Advisors on February 3, 2026, after reviewing the platform and the documents listed above. NoorVest describes its screening methodology as AAOIFI-aligned.

Does the Shariah pronouncement cover every investment or third party?

No. It’s explicitly limited to the NoorVest platform and doesn’t extend to third parties involved in its operations. Each security still has to pass the applicable screening process on its own, and that status can change.

How often are investments screened?

MuslimXchange screens listed securities quarterly, aligned with company financial reporting. Portfolio suitability and financial-planning reviews run on their own separate schedules.

Does Shariah compliance guarantee investment performance?

No. Shariah review checks compliance with the principles and structure the methodology covers—it doesn’t guarantee returns or prevent losses. All investing carries risk, including possible loss of principal.

What happens if a company becomes non-compliant?

The change gets reflected after the scheduled review cycle, and NoorVest notifies affected users. What happens next depends on the advisory agreement, NoorVest’s procedures, tax considerations, and your own circumstances.

How can I verify NoorVest’s Shariah process?

Check the current Amanie pronouncement, the screening thresholds and oversight roles above, NoorVest’s team page, and the official AAOIFI standards. Contact NoorVest directly if you need something clarified.

Halal investing within a complete financial plan

Build wealth with a process that reflects your priorities

Shariah screening is one piece of responsible portfolio management. Investment decisions still have to account for risk tolerance, time horizon, liquidity, taxes, diversification, family priorities, and the rest of the plan.

Schedule an introductory conversation

Scheduling a conversation doesn’t create an advisory relationship or guarantee any investment or strategy is right for you.

Disclosure

This page is for educational and verification purposes. It isn’t personalized investment, tax, legal, or Shariah advice, an offer or solicitation, or a recommendation to buy or sell any security or adopt any strategy.

The descriptions above summarize publicly available documents and NoorVest’s published process. Where this page and an underlying document differ, the document controls on scope and terms. Standards, methodologies, company classifications, and operating procedures can change.

All investing involves risk, including possible loss of principal. Registration as an investment adviser doesn’t imply any particular level of skill or training.