U.S. Halal Finance Shariah Transparency & Verification Audit

What the July 2026 audit found

Computed live from the product database — every figure below is reproducible from the downloadable records at any time.

Products audited

144

Providers

38

Formal Shariah board

47.9%

Publish a cost figure

41%

Headline findings

• Of 144 financial products tracked across 38 U.S. providers in HalalWallet's halal-finance registry, 79.2% publicly disclose some form of Shariah governance (formal board, third-party certification, or named scholars).
• 47.9% of products are overseen by a formal, named Shariah board — the strongest governance tier.
• 16.7% of tracked products publish no verifiable Shariah review at all (10 products where our crawl found none, 14 with no oversight information published) — a class that includes both self-described Islamic products and conventional products Muslims commonly shop.
• 41% of products publish at least one structured cost figure (pricing, APY, expense ratio, management fee, monthly fee, or minimum down payment) on their public site.
• 100% of product records carry a primary-source verification date; the audit is verified through 2026-07-29.

Every provider site in the registry was manually crawled and archived (July 2026, evidence in HalalWallet's research library). Governance classes are derived from what each provider publicly publishes — a 'no public review' class means our crawl of the provider's own materials found no named scholar, board, fatwa, or certification, not that none exists privately. Cost disclosure counts structured cost fields only; home/auto/business financing is typically quoted per applicant, so low structured-cost disclosure in those categories reflects industry practice. See /methodology.