Investing · Musaffa
Musaffa Halal Stock Screener
Co-Founder & CEO, HalalWallet
Facts are re-verified against Musaffa's published materials; this page updates when the provider's terms, rates, or coverage change.
Musaffa's stock screener is the research core of a New York fintech (SEC-registered investment adviser, CRD #338525) that has screened 135,030 stocks and 8,241 ETFs across 150+ markets for Shariah compliance, serving a claimed 659,485 users. Every ticker gets a Halal/Doubtful/Not Halal verdict plus a C- to A+ compliance grade under the AAOIFI methodology - independently certified by Amanah Advisors and overseen by Shaikh Dr. Aznan Hasan, a sitting AAOIFI Shariah Board member, with Mufti Faraz Adam. Detailed reports expose the underlying ratios; in the US universe, 1,339 of 6,403 screened stocks rated halal at the August 2026 check.
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What is the Musaffa Halal Stock Screener?
Musaffa's stock screener is the research core of a New York fintech (SEC-registered investment adviser, CRD #338525) that has screened 135,030 stocks and 8,241 ETFs across 150+ markets for Shariah compliance, serving a claimed 659,485 users. Every ticker gets a Halal/Doubtful/Not Halal verdict plus a C- to A+ compliance grade under the AAOIFI methodology - independently certified by Amanah Advisors and overseen by Shaikh Dr.
- Contract structure: Stock Screener.
- Available in all 50 states.
- Shariah oversight disclosed: Formal Board.
- Verified against Musaffa's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.us)
Key facts
- Structure
- Stock Screener
- Program type
- Stock Screener
- Management fee
- $0 free tier; $72/year Foundation plan
- Screening method
- AAOIFI standards
- Focus
- Halal Stock Screening
- Account types
- Individual, IRA, Roth IRA
- Availability
- all 50 states
- Shariah oversight
- Formal Board
- Provider founded
- 2020
- Last verified
- 2026-08-05
Facts are taken from Musaffa's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
Musaffa has built the most analyst-heavy screening operation in halal fintech - 25+ in-house equity researchers digging through footnotes rather than trusting headline financials, with the methodology certified by Amanah Advisors and a sitting AAOIFI board scholar overseeing it. The C- to A+ grading is genuinely useful: it distinguishes borderline compliance from comfortable compliance, which binary screeners flatten. Coverage is now enormous (135,030 stocks, 8,241 ETFs) and the free tier is generous enough to be useful, with the $72/year Foundation plan cheap next to Zoya Pro's $119.99. Buyers should know the company itself is young and still small financially, and that Musaffa screens but does not execute - you act through your own broker. As pure compliance research, it is currently the strongest value on the market.
Strengths
- Automated AAOIFI-standard screening for stocks and ETFs
- Published Shariah Compliance Certificate backs the methodology
- Advisors include Shaikh Dr. Aznan Hasan and Mufti Faraz Adam, with continuous board monitoring
- Available nationwide in all 50 states
Watch-outs
- A research platform, not a brokerage - trades execute elsewhere
- Founded in 2020, so a shorter operating history than legacy Islamic finance firms
- Full reports, history, and alerts sit behind the paid Foundation plan
- Company finances are early-stage: roughly $30K monthly recurring revenue disclosed in a January 2026 press release
Is the Musaffa Halal Stock Screener halal?
Musaffa publishes its screening math in full, which is rarer than it should be. The business screen excludes ten activity categories (alcohol, gambling, adult entertainment, tobacco, marijuana, weapons, cloning, non-halal foods, interest-based finance, and excess debt); the financial screen applies AAOIFI's three ratios with exact formulas - non-permissible income under 5% of total revenue, and interest-bearing assets and interest-bearing debt each under 30% of the trailing 36-month average market value. A stock must pass all three or it's rated Not Shariah-compliant, and within the compliant universe Musaffa grades strength from C- to A+ with up to three years of compliance history, so you can see whether a company is drifting toward the thresholds. The methodology is independently certified by Amanah Advisors, with a Shariah Compliance Certificate displayed on the site, and the named advisors are heavyweight: Shaikh Dr. Aznan Hasan, a sitting Shariah Board member of AAOIFI itself, and Mufti Faraz Adam, head of Amanah Advisors. Purification is computed from each company's verified non-permissible income ratio for your actual holding period - not an estimate - and the advisors' published position gives loss-position investors a 90-day grace period when a stock turns non-compliant. The honest legal framing, in Musaffa's own words: screening results are candidates for further research, not fatwas or buy recommendations.
Shariah oversight disclosed by Musaffa
Shariah advisors include Shaikh Dr. Aznan Hasan and Mufti Faraz Adam. Board continuously monitors compliance methodology.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Published AAOIFI formulas: ≤5% non-permissible income; interest-bearing assets and debt each ≤30% of trailing 36-month average market value
- Ten-category business screen; must pass all three financial ratios to rate as compliant
- C- to A+ halal grades with up to three years of compliance history per company
- Methodology independently certified by Amanah Advisors, with the certificate displayed
- Purification computed from each company's verified non-permissible income ratio for your holding period
- Coverage of 120,000+ stocks and 8,200+ ETFs across 60 markets (company-reported)
Cost and terms
Free tier: unlimited basic halal-status screening of 120,000+ global stocks. Foundation plan: $72/year (marketed as $6/month, 1 year free for eligible users) unlocks detailed Shariah reports, C- to A+ ratings, three-year compliance history, MISRI scores, filters, alerts, and portfolio tools (plan structure verified on musaffa.com/pricing 2026-08-05; $72/yr figure per Musaffa pricing retrieved 2026-07-28).
How it compares
Other investing providers we list in the U.S., ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Musaffa Halal Stock Screener (this page) | Stock Screener | Formal Board | all 50 states | — |
| Zoya Stock Screener | Stock Screener | Named Scholar | all 50 states | — |
| Manzil Trading (Self-Directed Halal Stock Trading) | Self-directed brokerage with real-time AAOIFI screening (Zoya) | Formal Board | all 50 states | A |
| Wahed Real Estate Fund | Zero-debt single-family rental fund (100% equity) | Third-Party Certified | all 50 states | B+ |
| SPFunds SP Funds S&P World ETF | Index-based | Third-Party Certified | all 50 states | B |
Other Musaffa products
- Halal ETF Finder
Investing · ETF Screener
- Zakat Calculator
Zakat Calculator · Tool
Where it's available
Musaffa lists the Musaffa Halal Stock Screener as available in all 50 states.
Availability may vary by product and can change; verify with Musaffa before applying.
Frequently asked questions
Is the Musaffa Halal Stock Screener halal?
Musaffa publishes its screening math in full, which is rarer than it should be. Contract structure: Stock Screener. Shariah oversight disclosed by Musaffa: Formal Board. HalalWallet reports what the provider documents; we do not certify products.
How does the Musaffa Halal Stock Screener work?
Musaffa's stock screener is the research core of a New York fintech (SEC-registered investment adviser, CRD #338525) that has screened 135,030 stocks and 8,241 ETFs across 150+ markets for Shariah compliance, serving a claimed 659,485 users. Every ticker gets a Halal/Doubtful/Not Halal verdict plus a C- to A+ compliance grade under the AAOIFI methodology - independently certified by Amanah Advisors and overseen by Shaikh Dr.
What does the Musaffa Halal Stock Screener cost?
Free tier: unlimited basic halal-status screening of 120,000+ global stocks. Foundation plan: $72/year (marketed as $6/month, 1 year free for eligible users) unlocks detailed Shariah reports, C- to A+ ratings, three-year compliance history, MISRI scores, filters, alerts, and portfolio tools (plan structure verified on musaffa.com/pricing 2026-08-05; $72/yr figure per Musaffa pricing retrieved 2026-07-28).
Where is the Musaffa Halal Stock Screener available?
Musaffa lists this product as available in all 50 states. Availability can change and may differ by state; verify directly with Musaffa.
What are the alternatives to the Musaffa Halal Stock Screener?
In the same category we also list Zoya Stock Screener, Manzil Trading (Self-Directed Halal Stock Trading) (HalalWallet Index A), Wahed Real Estate Fund (HalalWallet Index B+). Compare every option side by side on our Halal Investing hub.
When was this Musaffa product information last verified?
HalalWallet last verified the Musaffa Halal Stock Screener details against Musaffa's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
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