How are Halal Money Index grades calculated?

Each provider is scored on Shariah integrity (35 points: the strength and credibility of Shariah oversight, with claims requiring published evidence such as named boards, fatwas and audit reports), transparency (20: whether the board, scholars, methodology and real fee numbers are publicly disclosed, plus how complete the provider's data profile is), cost/value (15: pricing transparency, since publishing actual rates and fees beats hiding them in a Schedule of Charges), and track record (10: at least a year in operation earns full marks, so longevity beyond that adds nothing). A 20-point verified-data credit reflects how recently our editorial team verified the provider's data against its published sources, and it decays when verification goes stale. Up to 4 editor's-pick points recognize documented benefits the rubric can't quantify, awarded only with a published rationale. Missing data is never excused: it scores a conservative floor and is flagged. Every grade is reviewed and approved before publication.

Is a low grade a religious ruling that a provider is not halal?

No. The Index is not a fatwa and HalalWallet does not issue religious rulings. A low Shariah-integrity score most often means a provider has not published evidence of independent Shariah oversight, which is a transparency problem, not necessarily a compliance one. The UK's Islamic banks each maintain their own Shariah Supervisory Committees. We encourage every consumer to review a provider's own Shariah documentation and consult a qualified scholar for religious questions.

Can providers pay for a better grade?

No. Grades are computed from the same rubric for every provider and the methodology is published in full on this page. Even the editor's-pick points are capped at 4, positive-only, and require a published rationale. Providers can improve their grade one way: by publicly disclosing stronger Shariah oversight, real rates and fees, and a complete data profile.

Why do many UK Islamic banks share similar grades?

Because their public disclosure profiles genuinely are similar. The UK's PRA-authorised Islamic banks each maintain a formal Shariah Supervisory Committee, name their scholars, and publish oversight detail, so the Shariah-integrity pillar clusters near the top. What separates leaders is the rest: publishing actual expected profit rates and fees clearly, publishing a founding date, and documenting more of the product line. Where the registry can't verify a data point, the provider scores the conservative floor for it.

How often are grades updated?

Grades recompute whenever the underlying registry data changes: new Shariah certifications, new declared rates, fee changes, or new disclosures. Every change is re-reviewed before it publishes. The Index is a living scorecard, not an annual snapshot.

The independent scorecard for halal money in the UK

The Halal Money Index

Every UK halal provider, graded from A to B− on a transparent rubric: Shariah integrity, transparency, pricing disclosure, track record, and verified data. Computed from HalalWallet's live provider registry, reviewed before publication, and updated whenever the data changes.

Quick Answer

The Halal Money Index grades every UK halal finance provider from A to B- on Shariah integrity (35 points), transparency and data completeness (20), cost/value measured as pricing disclosure (15), track record (10), and verified data (20). Up to 4 further points are an editor's pick, awarded only with a published rationale. Coverage is shown for context but never scored. Of the 36 provider grades published so far, 16 earn an A or A-. The rest range from B+ down to B-, the floor grade, which means we don't yet have enough verified information rather than that a provider is bad. Grades are computed from HalalWallet's live provider registry and reviewed before publication.

Islamic Bank Accounts

Compare all islamic bank accounts options →

Expected profit savings, interest-free current accounts, Cash ISAs and fixed term deposits from FCA and PRA regulated banks and fintechs.

A
AlRayan Bank UKHigh confidence
The UK's oldest wholly Islamic bank prints its full expected profit ladder, 2.75% everyday savings to 4.73% at 12 months, under a named three-scholar committee with scanned fatwa certificates per product.
Named Shariah board · est. 2004 · available across the UK · Instant access expected-profit savings (fatwa certificate published; contract not named on page)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Gatehouse BankHigh confidence
The accessibility benchmark of UK halal savings: every rate published from a 1 GBP minimum, including the market-leading 4.35% one-year Cash ISA, under a Yaquby-chaired board with downloadable certificates.
Named Shariah board · est. 2015 · available across the UK · Expected-profit easy access savings (Shariah certificate published for savings family)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
QIB (UK)High confidence
A wholly Islamic Mayfair private bank with a heavyweight named board and a published rate matrix, though the card is inverted, 31-day notice out-pays 120-day, and the roster appears only in the FY2021 accounts.
Named Shariah board · est. 2008 · available across the UK · Non-profit-bearing private banking current account
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Nomo BankHigh confidence
BLME's digital brand carries the strongest Sharia disclosure of any UK digital bank, a signed and dated 2025 fatwa covering the whole shelf, but its accounts are open to GCC residents only.
Named Shariah board · est. 2006 · available across the UK · Non-profit-bearing multi-currency current account at a wholly Islamic bank
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Bank of London and The Middle East (BLME)High confidence
Europe's largest standalone Islamic bank pays up to 4.65% expected profit with the market's only 5 to 7 year terms, under three named scholars who also publish a shareholder Zakat Statement.
Named Shariah board · est. 2006 · available across the UK · Fixed term expected-profit deposit at a wholly Islamic bank
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Habib Bank Zurich UK - Sirat Islamic BankingHigh confidence
The UK rate champion at crawl, 4.81% on the 12-month eDeposit, and effectively the last bank still opening Islamic current accounts, but the window names no scholars behind its AAOIFI and IFAAS governance.
Third-party certified · available across the UK · Wakala savings accounts in three currencies
Score breakdown
Shariah integrity
29/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
KestrlAwaiting verified dataHigh confidence
The Muslim Money App's 2026 account launch adds a 2.50% discretionary reward behind a 1,000-customer waitlist, with screening data from Amanah Advisors but no published board or certificate document.
Third-party screening data, certificate not published · est. 2026 · available across the UK · E-money account with discretionary interest-free rewards and values screening
What we're missing to score higher:
- Board members / scholars not named
- Founded less than a year ago
Recently verified Aug 2026
B-
AlgbraAwaiting verified dataMedium confidence
An FCA e-money app with the most detailed public Murabaha disclosure in UK consumer fintech on its Saver Cubes, but no scholar, board or certificate is published anywhere and wallet balances are not FSCS-protected.
No public Shariah review · available across the UK · Safeguarded e-money account for non-UK residents
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026

Islamic Home Financing

Compare all islamic home financing options →

Home purchase plans on Diminishing Musharakah, plus rent-to-own and equity partnership models.

A
Nomo BankHigh confidence
The best published UK Islamic home finance rates at crawl, 5.25% to 5.89% fixed with APRC disclosed and rare Scotland coverage, under a signed 2025 fatwa, but only GCC residents can apply.
Named Shariah board · est. 2006 · 3 of 4 UK nations · Commodity Murabaha buy-to-let finance
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Gatehouse BankHigh confidence
The UK's published-rate benchmark: complete Home Purchase Plan rate cards from 5.53% Green to 95% FTV, with per-product-family Shariah certificates from the Yaquby-chaired board.
Named Shariah board · est. 2015 · 2 of 4 UK nations · Acquisition and rent (diminishing Musharaka joint ownership with Ijara rent)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
OffaHigh confidence
A published rate card from 5.50% at 65% FTV to 6.90% at 95%, plus the UK's first Islamic bridge shelf, all certified by Amanah Advisors with downloadable certificates.
Third-party certified · est. 2019 · 2 of 4 UK nations · Co-ownership with leasing (diminishing partnership + independent lease), regulated HPP
Score breakdown
Shariah integrity
29/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
NesterHigh confidence
FCA-authorised Islamic P2P property finance with three published Shariah certificates, from Shaikh Nizam Yaquby, Amanah Advisors and Mufti Shikder, and investor terms printed down to the 0 to 2% exit fee.
Third-party certified · est. 2018 · available across the UK · Commodity Murabaha P2P property finance (first legal charge security)
Score breakdown
Shariah integrity
29/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
StrideUpHigh confidence
A regulated Home Purchase Plan built for the 10% deposit buyer, rates from a published 5.99% with a full tariff list, certified and audited by Amanah Advisors under Mufti Faraz Adam.
Third-party certified · est. 2022 · 1 of 4 UK nations · Diminishing Musharakah + Ijarah (regulated Home Purchase Plan)
Score breakdown
Shariah integrity
29/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
AlRayan Bank UKHigh confidence
Premier home finance from the UK's oldest Islamic bank carries per-product fatwa certificates and no early settlement fees, but rental rates and FTV are negotiated rather than published.
Named Shariah board · est. 2004 · 2 of 4 UK nations · Commodity Murabaha (Tawarruq) home finance
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Habib Bank Zurich UK - Sirat Islamic BankingHigh confidence
The widest income-property asset list in UK Islamic finance at up to 65% FTV, with a choice of Diminishing Musharaka or Commodity Murabaha, though rates are negotiated and scholars unnamed.
Third-party certified · available across the UK · Diminishing Musharaka or Commodity Murabaha investment property finance
Score breakdown
Shariah integrity
29/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
PfidaHigh confidence
The most distinctive structure in UK home finance, a true no-debt partnership certified by Sheikh Haitham Al-Haddad and the Islamic Council of Europe, priced on market rent with a waitlist that can stretch toward five years.
Third-party certified · est. 2016 · available across the UK · Co-ownership partnership (no-debt equity sharing with market-based rent)
Score breakdown
Shariah integrity
29/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Bank of London and The Middle East (BLME)Medium confidence
Bespoke Sharia'a compliant property finance for international clients with prime central London sourcing, under a fully named board, but no rates, fees or FTV limits are published.
Named Shariah board · est. 2006 · available across the UK · Sharia'a compliant residential/BTL finance for international clients (contract not named on page)
Score breakdown
Shariah integrity
34/35
Transparency
14/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
QIB (UK)Medium confidence
Murabaha property finance for private clients of a wholly Islamic bank with a named board, but nothing is published: no rates, no FTV caps, no fees.
Named Shariah board · est. 2008 · 1 of 4 UK nations · Murabaha residential finance (regulated and BTL); structured real estate desk
Score breakdown
Shariah integrity
34/35
Transparency
14/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Investing

Compare all halal investing options →

Shariah-compliant funds, UCITS ETFs, managed portfolios and property investment platforms.

A
iShares (BlackRock)High confidence
Three LSE-listed Islamic ETFs from 0.30% TER under a named four-scholar Amanie panel with MSCI purification factors, the cheapest certified halal equity exposure in Britain since 2007.
Named Shariah board · est. 2007 · available across the UK
Score breakdown
Shariah integrity
35/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
HSBC Asset ManagementHigh confidence
The benchmark UK halal equity fund since April 2000: the HSBC Global Shariah Supervisory Committee signs annual AAOIFI-aligned reports and the 0.62% retail OCF is fully published.
Named Shariah board · est. 2000 · available across the UK
Score breakdown
Shariah integrity
35/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Simply EthicalHigh confidence
Two named SRB scholars issue binding rulings over tiered advice portfolios from GBP 1,000, with verification-coded certificates and a published fee ladder from 0.75% down to 0.25%.
Named Shariah board · est. 2009 · available across the UK
Score breakdown
Shariah integrity
35/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
SchrodersHigh confidence
A systematic Islamic global equity fund at a published 0.55% OCF with Amanie Advisors retained as Shariah adviser, though compliance reporting is thinner than the HSBC committee model.
Third-party certified · est. 2022 · available across the UK
Score breakdown
Shariah integrity
29/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
YieldersHigh confidence
Debt-free property crowdfunding certified by Sheikh Abu Eesa Niamatullah with a UKIFC-backed process and every fee printed: 2.5% structuring, 10% of rent, 15% of exit profit.
Named-scholar oversight · est. 2016 · available across the UK
Score breakdown
Shariah integrity
24/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Wahed Invest UKHigh confidence
The mass-market UK halal robo publishes its certificate and six years of annual Shariah reports through the Shariyah Review Bureau, with printed tiered fees from 1% down to 0.5%.
External Shariah firm oversight · est. 2018 · available across the UK
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Cur8 CapitalMedium confidence
Private-market income funds under Amanah Advisors plus in-house alim screening with per-deal Sharia and Zakat notes, for sophisticated investors who accept shelf-varying fees and no founding date on file.
External Shariah firm oversight · available across the UK
Score breakdown
Shariah integrity
28/35
Transparency
17/20
Cost / value
15/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026

Sharia Pensions & SIPPs

Compare all sharia pensions & sipps options →

Shariah-compliant workplace pension funds and self-invested personal pensions.

A
Simply EthicalHigh confidence
The pension route to Simply Ethical's binding two-scholar SRB committee, on the same published 0.75% to 0.25% fee ladder, with zakah services extending to pension assets.
Named Shariah board · est. 2009 · available across the UK
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Wahed Invest UKHigh confidence
The only UK halal SIPP with a fully printed fee line, the Wahed wrap plus GBP 2.50 a month administered by WealthKernel, under SRB certification with published annual Shariah reports.
External Shariah firm oversight · est. 2018 · available across the UK
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
NEST PensionsHigh confidence
Auto-enrolment's halal answer: any member of Britain's largest pension scheme can switch into the Sharia Fund at NEST's standard 1.8% plus 0.3% charges, now 70/30 equity and sukuk under HSBC's scholar committee.
Underlying fund Shariah board · available across the UK
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
PenfoldMedium confidence
An app-first Sharia pension at an all-in published 0.88% falling to 0.53%, invested wholly in the HSBC Islamic fund whose committee provides the oversight, with no de-risking pathway and no founding date on file.
Underlying fund Shariah board · available across the UK
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026
B-
AvivaAwaiting verified dataMedium confidence
The first mainstream-insurer Shariah glidepath, launched November 2024 with de-risking from 14 years out, governed by the underlying HSBC committee, but scheme charges are opaque externally.
Underlying fund Shariah board · est. 2024 · available across the UK
What we're missing to score higher:
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026
B-
Standard LifeAwaiting verified dataMedium confidence
The longest-running insurer Shariah pension option, live since May 2005 with GBP 742.9 million invested, inherits HSBC committee oversight but publishes no charges and offers no glidepath.
Underlying fund Shariah board · est. 2005 · available across the UK
What we're missing to score higher:
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026

Islamic Wills & Estate Planning

Compare all islamic wills & estate planning options →

Online Islamic will services and solicitor-drafted wills that make faraid legally binding.

B+
IFG WillsMedium confidence
The best documented Islamic will service in Britain: GBP 98 with named Mufti sign-off on every will, solicitor founders and free charity routes, though no founding year is on file.
Named-scholar oversight · 2 of 4 UK nations · Online Islamic will (faraid shares, England and Wales)
Score breakdown
Shariah integrity
33/35
Transparency
17/20
Cost / value
15/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026
B-
Wahed WillsAwaiting verified dataMedium confidence
Wahed's GBP 125 online will claims leading-scholar approval but names no scholar and publishes no certificate on the wills page, in contrast to its own investment arm's disclosure.
No public Shariah review · 2 of 4 UK nations · Online Islamic will (faraid shares, English law)
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026
B-
Islamicwills.co.uk (Farani Taylor Solicitors)Awaiting verified dataMedium confidence
Fixed-fee Islamic wills from GBP 250 plus VAT drafted by SRA-regulated Farani Taylor solicitors, but no scholar or Shariah certificate is published for the drafting.
No public Shariah review · 2 of 4 UK nations · Solicitor-drafted Islamic will with flexible life interest (England and Wales)
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026

Islamic Business Financing

Compare all islamic business financing options →

Fixed-profit SME finance and Shariah-compliant commercial property finance.

A-
AlRayan Bank UKHigh confidence
Commercial property finance from 2.5 million to 32 million GBP under the bank's named committee and per-product fatwas, with every commercial term negotiated rather than published.
Named Shariah board · est. 2004 · available across the UK · Diminishing Musharakah with Ijara (per bank's 2006 launch disclosure; current page quotes rental rates)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
QardusAwaiting verified dataLow confidence
The UK's first Sharia-compliant SME financing platform, certified under Mufti Faraz Adam with GBP 5.1 million deployed, but rates are quote-based and Qardus states plainly that it is not authorised or regulated by the FCA.
Named scholar via external firm · available across the UK · Fee plus fixed pre-agreed profit rate (contract not named on page; commodity murabaha is the market-standard structure)
What we're missing to score higher:
- Board members / scholars not named
- No published rates or fees on file
- Founding year not on file
Recently verified Aug 2026

How the grades work

Pillar	Points	What we measure
Shariah integrity	35	Strength of oversight: formal Shariah board (strongest) → third-party certification → named scholar → no public review (weakest). Claims require published evidence; an unsubstantiated “formal board” scores at the named-scholar tier.
Transparency	20	Are the board members named? Is the oversight detail published? Are real fee and rate numbers in plain sight? Plus data completeness: the more of their profile a provider shares, the more they earn. Disclosure always beats silence.
Cost / value	15	Pricing transparency, not price level: publishing actual declared rates, spreads, fees or expense ratios scores; pointing customers to an unpublished Schedule of Charges does not. Where nothing numeric is on file the pillar scores a conservative floor and is flagged.
Track record	10	A legitimacy check, not a longevity contest: at least a year in operation earns full marks. Decades in business don't add points, but brand-new pop-ups and undisclosed founding dates can't hold a top score.
Verified data	20	How recently our editorial team verified the provider's data against its published pages and documents. The credit decays when verification goes stale, so a strong grade cannot coast on old data. Coverage is displayed but never scored.
Editor's pick	4	Positive-only editorial points for real, documented benefits no rubric can quantify. Awarded only with a published rationale. A perfect 100 requires it, but an A doesn't.

Letter scale

A 90+ · A- 85+ · B+ 78+ · B 70+ · B- 0+. B− is the floor: it means we don't yet have enough verified information to score the provider higher, not that the provider is bad. Floor-tier rows show what's missing instead of a numeric score. Products with structural red flags, such as undisclosed riba, are removed from the Index rather than graded.

Verified data decays

Verified data is worth 20 points, a fifth of the grade. Past 30 days without re-verification the credit decays (minus 8, then minus 14 at 60 days, minus 20 at 90) until the data is confirmed again, so stale data cannot keep a strong grade.

The Index is an editorial transparency rating, not a religious ruling or financial advice. Grades are computed from HalalWallet's provider registry, reviewed before publication, and recomputed when the underlying data changes. Confidence labels reflect how complete a provider's verified data is. Providers cannot pay for a grade. See our methodology for how the registry itself is built.

Frequently Asked Questions

How to cite this page

Preferred format:

HalalWallet. “The Halal Money Index.” HalalWallet, https://www.halalwallet.co.uk/halal-money-index. Accessed 2026-08-22.

For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.

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.