HalalWallet (halalwallet.asia) compares Shariah-compliant investing options in Malaysia: Islamic unit trusts (equity, sukuk, and money market), Bursa-listed Islamic ETFs from Eq8 Capital, and SC-licensed Shariah robo-advisors Wahed Malaysia and StashAway. Founded by Robert Mallon and Kyle Natter, and backed by Niya, a Silicon Valley venture studio, HalalWallet provides independent Halal Transparency Scores and side-by-side comparisons of fees, minimums, and Shariah governance so Malaysian investors can build halal portfolios.
Halal Investing in Malaysia
Islamic unit trusts, Bursa-listed Shariah ETFs, sukuk funds, and SC-licensed robo-advisors compared on fees, minimums, and who actually oversees the Shariah screening.
Reviewed quarterly and updated when provider data, product availability, or pricing changes.
Top Picks
Top Halal Investing Providers
Every provider reviewed against published fund documents: fees, minimums, and the Shariah governance actually disclosed.
Ranked by Halal Money Index grade: disclosed Shariah governance, transparency, pricing disclosure and track record. Not sponsored.
Eq8 Capital
B+Shariah dividend index ETF
Best for: Passive halal dividend income at a quarter of active fund fees
Shariah Oversight
Principal Asset Management
B+Islamic sukuk fund with equity enhancement
Best for: Conservative investors who want sukuk income with a small halal equity kicker
Shariah Oversight
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Choose Your Halal Investing Strategy
Click a strategy to filter providers below, or explore the full strategy guide.
Diversified ETFs
Low-cost halal ETFs for steady, long-term wealth building
Managed Portfolios
Let experts build and manage your halal portfolio for you
Stock Picking
Screen and select individual Shariah-compliant stocks yourself
Income / Sukuk
Prioritize steady halal income through sukuk and income funds
Gold & Real Assets
Hedge inflation with Shariah-compliant real assets
Retirement
Build a Shariah-compliant retirement portfolio (EPF Simpanan Shariah & Shariah PRS)
How Halal Investing Works in Malaysia
SC Shariah screening, Islamic unit trusts and ETFs, and the governance differences that separate providers
SC Shariah Screening
The Securities Commission Malaysia's Shariah Advisory Council publishes the List of Shariah-Compliant Securities twice a year, covering most of Bursa Malaysia. Funds and ETFs screen against this list or against international indices like the Dow Jones Islamic Market series.
Islamic Money Market Funds
The workhorses of halal cash management: Public Mutual's PIMMF charges 0.375% a year with no sales charge, AHAM Aiiman Money Market up to 0.50%, and Principal's Islamic Money Market Fund up to 0.40% from RM10,000.
Islamic ETFs on Bursa
Eq8 Capital runs the listed Shariah ETF shelf: EQ8MY25 (the first Shariah ETF in Asia, listed 2008) tracks the 25 largest compliant Malaysian companies, EQ8MID tracks Islamic dividend payers, and EQ8US50 tracks 50 large US Shariah-screened companies, all at 0.40% a year.
Shariah Governance
Every Islamic fund operates under an SC-registered Shariah adviser, and the robo-advisors (Wahed Malaysia, StashAway's Shariah portfolio) are SC-licensed with their own Shariah oversight. We label what each provider actually discloses.
Fund-Level Purification
Islamic unit trusts purify non-compliant income at the fund level under their Shariah advisers. Direct stock investors must track the SC list and handle purification of incidental income themselves.
Robo-Advisors From RM100
Wahed Invest Malaysia runs halal managed portfolios from RM100 at 0.79% a year (0.39% above RM500,000), and StashAway's Shariah Global Portfolio has no minimum at 0.2% to 0.8% tiered fees.
What a halal portfolio can look like
Example allocations to illustrate how Shariah-compliant investing works in practice. These are not financial advice - consult a qualified advisor for your personal situation.
Moderate risk: a blend of growth and income for most investors.
Core growth engine
International diversification
Stability & income
Inflation hedge
This is an illustrative example only and does not constitute investment advice. Actual allocations should be based on your financial goals, risk tolerance, and consultation with a qualified financial advisor. Past performance does not guarantee future results.
Quick picks by goal
Not sure which provider to start with? Pick a common goal below.
Best for beginners
Hands-off managed investing
- Professionally managed halal portfolios
- Automatic rebalancing & Shariah screening
Best for low-cost investing
Halal ETFs with low expense ratios
- Index-based Islamic ETFs from a 0.40% management fee
- Tradeable through any Bursa Malaysia brokerage account
Best for stock pickers
Screen and trade halal stocks
- Halal stock screeners with AAOIFI-based filtering
- Full control over individual holdings
Compare Halal Investment Platforms
Every row shows a Halal Transparency Score, “best for” guidance, and context-specific CTAs. Toggle between Beginner and Expert views.
Our Analysis
The halal fund market in Malaysia is one of the deepest in the world: we compare 19 products across equity, sukuk, money market, ETF, and robo-advisory categories from managers including Public Mutual, Principal, Kenanga, AHAM, BIMB Investment, Maybank Asset Management, and Eq8 Capital. The heritage runs deep too: Principal DALI has run since 1998 (RM745 million, 562% since inception as published on its fund page), Public Ittikal since 1997, and EQ8MY25 was the first Shariah ETF listed in Asia, back in January 2008.
The two decisions that matter most are fees and channel. Active Islamic equity unit trusts uniformly charge about 1.50% a year in management fees, but the sales charge is where the real money goes: up to 5.0% at Public Mutual and up to 6.50% at Principal DALI and AHAM through adviser channels. The passive route costs a fraction: all three Eq8 ETFs charge 0.40% with no sales charge, just brokerage commission. In cash funds, Public Mutual's PIMMF at 0.375% with no sales charge is the benchmark.
For hands-off investors, the SC-licensed robos are genuine options: Wahed Malaysia from RM100 at 0.79% (0.39% above RM500,000) is Islamic end to end, while StashAway's Shariah Global Portfolio (no minimum, 0.2% to 0.8%) adds global sukuk and gold diversification inside a conventional platform. And before optimising any personal portfolio, check the bigger lever: electing EPF Simpanan Shariah converts your largest retirement asset to Shariah-compliant management at no fee.
Investing is just one of 7 categories. Average score: 63/100.
See yoursInvestment Guides & Tools
Halal Investing Strategies →
Explore 6 proven halal investing strategies. Diversified ETFs, managed portfolios, stock picking, and more.
Halal Portfolio Builder →
See example halal portfolio allocations for your risk level and time horizon, with real fund suggestions.
Halal Transparency Score: How We Score →
Understand how we calculate the Halal Transparency Score, what data we use, and how confidence levels work.
How to Invest Halal →
The step-by-step guide from first ringgit to a diversified halal portfolio.
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Halal vs Haram Investments: General Screening Principles
Islamic investment screening evaluates companies and financial instruments based on Shariah principles. The following are general guidelines; specific criteria and thresholds vary by Shariah board and screening methodology. Always consult with qualified scholars or use a reputable Shariah screening service.
| Criteria | Generally Halal | Generally Not Permissible |
|---|---|---|
| Industry | Technology, healthcare, real estate, manufacturing, halal food | Alcohol, gambling, pork, tobacco, conventional banking/insurance, adult entertainment, weapons |
| Income Source | Revenue from permissible goods and services | Significant revenue from interest (riba), prohibited activities, or excessive speculation |
| Debt Levels | Companies with low interest-bearing debt ratios (thresholds vary by screening standard) | Companies with excessive interest-bearing debt relative to assets or market capitalization |
| Investment Type | Equities (stocks), Sukuk, real estate, commodities, halal ETFs/mutual funds | Conventional bonds, derivatives, options/futures for speculation, interest-bearing instruments |
This table provides general principles only. Different Shariah boards (e.g., the SC Shariah Advisory Council, AAOIFI, DJIM) may apply different financial ratio thresholds and screening methodologies. What qualifies as halal can differ based on the standard used. Consult with qualified Islamic scholars for guidance specific to your investments.
Choosing the Right Halal Investment
What Does Halal Investing Cost?
Active Equity Unit Trusts
The big active Islamic equity funds (Public Ittikal, Principal DALI, Kenanga Syariah Growth, AHAM Aiiman Growth) charge about 1.50% a year in management fees, plus sales charges of up to 5.0% to 6.50% depending on the channel. That upfront charge is the biggest cost most unit trust investors pay.
A 5% sales charge means RM50 of every RM1,000 never gets invested.
Passive ETF Route
All three Eq8 Islamic ETFs (EQ8MY25, EQ8MID, EQ8US50) charge 0.40% a year with no sales charge; you pay only brokerage commission and the bid/ask spread through any Bursa broker. All three are small by global standards, so check spreads before placing large orders.
One board lot (100 units) is the minimum trade.
Money Market and Robos
Islamic money market funds charge 0.375% (Public Mutual PIMMF) to 0.50% (AHAM Aiiman) with no sales charge. Robo fees: Wahed 0.79% falling to 0.39% above RM500,000; StashAway's Shariah portfolio 0.2% to 0.8% tiered, no minimum.
Money market funds suit cash you may need within a year or two.
Which Approach Is Right for You?
You want low-risk parking for savings
Islamic money market funds: Public Mutual PIMMF (0.375%, RM1,000 entry, no sales charge) or AHAM Aiiman Money Market (up to 0.50%, RM1,000). Principal's version needs RM10,000.
You want index-style equity exposure
The Eq8 ETFs on Bursa: EQ8MY25 for the 25 largest compliant Malaysian companies, EQ8MID for Islamic dividend payers, EQ8US50 for US exposure, all at 0.40% with no sales charge.
You want active management
Principal DALI (running since 1998, benchmarked to FBM EMAS Shariah) and Public Ittikal (since 1997) are the flagship active funds. Expect 1.50% annual fees plus a sales charge; negotiate the channel, since adviser routes charge more.
You want fully hands-off investing
Wahed Malaysia (from RM100, 0.79%, Islamic end to end) or StashAway's Shariah Global Portfolio (no minimum, 0.2% to 0.8%, adds global sukuk and gold). Both are SC-licensed.
You want to pick your own stocks
Any Bursa broker with an Islamic stockbroking window works. Screen against the SC's List of Shariah-Compliant Securities, updated each May and November, and avoid margin and interest-bearing idle balances.
You're saving for retirement
Elect EPF Simpanan Shariah first (free, one-way, converts your biggest asset), then add Shariah PRS funds like Public Mutual PRS Islamic Growth from RM100. PRS contributions carry personal tax relief.
Halal Investing by State
Funds are digital and nationwide; branch and agent access still varies by state
Frequently Asked Questions
Zakat & Islamic Finance Resources
Calculate Zakat on your investments and learn about Islamic finance.
Quick Answer
The best halal investment in Malaysia depends on your goal. For savings, Islamic money market funds like Public Mutual's PIMMF charge 0.375% with no sales charge from RM1,000. For long-term equity, choose between active unit trusts (Principal DALI, Public Ittikal, around 1.50% a year plus sales charges up to 6.50%) and the Bursa-listed Islamic ETFs from Eq8 Capital at 0.40% with no sales charge. For hands-off investing, SC-licensed robos Wahed Malaysia (from RM100, 0.79%) and StashAway Shariah (no minimum, 0.2% to 0.8%) build diversified halal portfolios automatically. Employees should also consider electing EPF Simpanan Shariah, which converts EPF savings to Shariah-compliant management at no fee.
Key Takeaways
- Active Islamic equity unit trusts charge about 1.50% a year plus sales charges of up to 5% to 6.5%; the Eq8 ETFs cost 0.40% with no sales charge.
- The SC Shariah Advisory Council screens every Bursa-listed security and publishes the official compliant list each May and November.
- EQ8MY25 was the first Shariah ETF listed in Asia (January 2008) and tracks the 25 largest compliant Malaysian companies.
- Minimums start at RM0 (StashAway Shariah) and RM100 (Wahed, PRS Islamic funds); mainstream unit trusts start at RM1,000.
- EPF Simpanan Shariah is usually the biggest halal investing lever: a free, one-way election converting your largest retirement asset.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-06
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Halal Finance Score
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Average score: 63/100
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.