Investing In S&P 500 And QQQ EFTs
People say the S&P 500 and QQQ are not Shariah-compliant because: 1. Many companies in these indexes earn revenue from prohibited (haram) sectors like alcohol, gambling, conventional banking, and pork products. 2. They include businesses with interest-based financing, which violates Islamic finance principles. 3. No filtering is done for debt ratios, non-halal income, or other Shariah screening criteria. 4. Dividends may include income from non-permissible sources. 5. Shariah-compliant investors prefer screened indexes like S&P 500 Shariah or Nasdaq-100 Halal versions Need guidelines.