Best Halal Investment Options In Singapore

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In Singapore, investments that meet Shariah standards are screened based on business activities and financial ratios to exclude impermissible sectors and limit non-halal income. Certification is typically aligned with global halal rankings and screeners, e.g. IdealRatings or S&PShariah benchmarks, while religious validation is managed by MUIS. Today, investors can access a variety of options, including sukuk, Islamic stocks, ETFs, mutual funds, certified digital platforms, and halal savings tools, through banks, licensed brokers, and online advisory platforms.

Complying with Islamic investing principles involves avoiding interest-based earnings (riba), limiting excessive uncertainty (gharar), and steering clear of speculative or gambling-like instruments (maysir). This excludes many traditional products such as fixed-interest bonds, derivatives, and regular savings accounts. A clear framework now supports Shariah compliant investment in Singapore, providing access to Islamic funds, sukuk, and accounts that have been reviewed and approved by local authorities like MUIS and regulated under MAS guidelines. This guide highlights how to choose and use Shariah-aligned investment instruments in Singapore.

Risk warning: All investments carry risk, including potential capital loss. Economic fluctuations and market changes affect returns, and 40-50% of investors underperform benchmarks. Diversification helps but does not eliminate risks. Invest wisely and consult professional financial advisors.

Halal investments in Singapore: Role of MUIS, MAS, and financial screening

Shariah-compliant investment in Singapore goes far beyond simply avoiding companies involved in alcohol, gambling, or pork. Every asset must pass through a layered process, starting with financial filters that assess debt levels, cash holdings, and interest income. For example, if a company earns even a small percentage of revenue from interest-bearing instruments or holds too much debt relative to its market value, it may be excluded.

The Monetary Authority of Singapore (MAS) plays a critical role in making Islamic finance part of the mainstream. Unlike in many countries where Islamic products are handled under separate regulatory umbrellas, MAS incorporates them into the same rulebooks used for conventional finance. Since 2021, Islamic bonds (sukuk) and Shariah-compliant capital structures have been given equal treatment in tax and capital regulations. What makes this significant is that MAS still allows room for Islamic-specific elements, such as leasing contracts and asset-backed models, to exist within broader financial norms. This duality allows Shariah-compliant investment in Singapore to evolve without being sidelined.

A key player in this ecosystem is MUIS (Majlis Ugama Islam Singapura), which guides Islamic financial certification in the country. MUIS is no longer just issuing halal labels for food; it's also issuing religious guidance and approvals for financial instruments. This includes takaful (Islamic insurance), structured gold savings plans, and Shariah-compliant ETFs. These endorsements give investors clarity and religious confidence. In fact, MUIS now works with Shariah boards that regularly evaluate portfolios and investment products offered by banks and wealth managers, helping Islamic investment in Singapore grow with confidence.

Halal investment market is showing real momentum. In Singapore it recorded over 14 percent growth in total managed assets during the first half of 2024. Banks like Maybank Singapore and CIMB Islamic have seen their Islamic wealth portfolios double in size, especially among younger, tech-savvy investors. These gains reflect a growing demand for ethical finance, but also the rising trust in regulatory structures and religious oversight. What sets Singapore apart is not just the availability of Islamic products, but how seamlessly they are integrated into one of the world’s most advanced financial ecosystems.

Top halal investment options in Singapore

Shariah-compliant investing in Singapore refers to financial products that align with Islamic investing principles by avoiding interest, excessive uncertainty, and involvement in restricted industries. These instruments are typically backed by real assets and undergo rigorous screening by internal or external Shariah advisory boards. Accessible through licensed financial institutions, such offerings cater to both institutional and retail clients. From bonds and managed funds to real estate and digital currencies, the landscape of Shariah investment in Singapore provides structured tools that allow investors to maintain religious compliance with ease.

Shariah-сompliant stocks

Muslim investors in Singapore seeking to build equity portfolios without compromising their faith have access to a growing selection of Shariah-compliant stocks in Singapore. These stocks are carefully screened to exclude businesses engaged in non-halal sectors such as conventional banking, alcohol, gambling, tobacco, and interest-based finance.

In Singapore, Shariah screening is typically performed by organizations like Wahed, ZICO Shariah, and Islamicly, ensuring that listed companies meet both sector-based and financial ratio criteria. Moreover, Singapore Exchange (SGX) itself provides two halal stock indices for investors: FTSE ST Singapore Shariah Index and S&P Singapore BMI Shariah Index.

Investing in halal stocks offers Muslim investors an ethical entry point into equity markets, aligning personal values with long-term financial growth.

Shariah-compliant stocks in Singapore
Company Name	Ticker	Sector	Shariah Board/Screening Provider	Notes
Venture Corporation Ltd	SGX: V03	Electronics/Tech	Islamicly, ZICO Shariah	Debt within limits; clean business activities
Thomson Medical Group	SGX: A50	Healthcare	Islamicly	Pure-play in halal healthcare services
Frasers Logistics Trust	SGX: BUOU	Industrial REIT	Islamicly	Asset-backed income; no exposure to haram sectors
SATS Ltd	SGX: S58	Food Services/Logistics	Wahed, Islamicly	Operations avoid interest-based revenue sources
Raffles Medical Group	SGX: BSL	Healthcare Services	Islamicly, Wahed	Strong ethical compliance; low-interest exposure

Sukuk

Sukuk in Singapore are issued by both private financial firms and public institutions under MAS oversight. Unlike conventional bonds, they generate returns from activities such as trade or rental income instead of interest payments. Sukuk structures typically use special-purpose vehicles (SPVs) to connect investor obligations to actual assets. Some Sukuk are listed on the SGX, while others are privately placed, offering investors fixed-income opportunities within a Shariah-compliant framework that supports the ideology of a Muslim seeking to make an investment in Singapore.

Notable Sukuk instruments accessible from Singapore
Investment Option	Type	Provider/Issuer	Duration/Maturity	Yield/Return (%)	Minimum Investment
MAS Sukuk	Sovereign Sukuk (SGS-linked)	Monetary Authority of Singapore	5–10 years	~2.0–3.0	SGD 500 (per tranche)
MAMG Global Sukuk Income-I Fund	Global Sukuk (USD)	Maybank Asset Mgmt Group	~4.1 years	6.21	USD 1,000
Eastspring Wholesale Sukuk Fund	Malaysian Govt + Corporate Sukuk	Eastspring Investments	3–5 years (rolling)	~NAV S$1.0468*	SGD 1
AIA Shariah Global Diversified Fund	Multi-Asset (Sukuk + Equity)	AIA Singapore / Franklin	Variable (ILP**)	8.98 (6m) / 11.12 (1‑yr)	SGD 1,000 (via ILP)
Franklin Global Sukuk Fund – A (Mdis)	Global Sukuk (USD)	Franklin Templeton	4–5 years	~4.5 (1‑yr avg)	USD 1,000

Halal ETFs and index funds

For Muslim investors in Singapore, Shariah-compliant ETFs and index funds offer a low-cost, diversified, and convenient way to build a halal investment portfolio. These funds track indices composed of companies that pass rigorous Shariah screens — filtering out businesses involved in riba (interest-based finance), gambling, alcohol, tobacco, pork products, and speculative trading.

While the selection of locally listed Islamic ETFs remains limited, Singapore-based investors can appeal to a wide range of international halal ETFs through global brokers and Islamic investment platforms. These products are usually screened based on standards set by institutions such as AAOIFI, Dow Jones Islamic Market Index, or MSCI Shariah, and are suitable for both long-term wealth building and short-term tactical allocation.

Many of these global halal ETFs and index funds are UCITS-compliant or listed in the U.S., providing not just halal compliance, but also high liquidity, global exposure, and regulatory transparency.

Currently, no ETFs listed on the Singapore Exchange (SGX) are officially certified as Shariah-compliant. However, some locally available funds — such as tech-focused ETFs or real estate income ETFs — may align partially with Islamic principles depending on their underlying holdings. Due diligence is essential, and investors should either conduct their own screening or consult Shariah-compliant investment advisors.

In the meantime, international halal ETFs remain the most accessible and reliable route for building a compliant portfolio from Singapore.

Halal ETFs and index funds accessible from Singapore
Fund Name/ETF	Provider	Index Tracked	Compliance Standard	Notes
WahedFTSE USA Shariah ETF (HLAL)	Wahed Invest	FTSE USA Shariah	AAOIFI	U.S. large-cap halal stocks; diversified tech and consumer exposure
SP Funds S&P 500 Sharia ETF (SPUS)	SP Funds	S&P 500 Shariah	Dow Jones Islamic	U.S.-listed; excludes non-compliant sectors like finance & alcohol
iShares MSCI World Islamic ETF (ISWD)	BlackRock	MSCI World Islamic	MSCI Shariah	Global equity exposure; multi-sector diversification
Franklin Global SukukUCITSETF	Franklin Templeton	Bloomberg Sukuk Index	AAOIFI-compliant	Focus on sukuk (Islamic bonds); suitable for conservative portfolios
HSBC Islamic Global Equity Index Fund	HSBC Global AM	DJIM Titans/Custom	Shariah Board Certified	Large-cap Shariah-compliant equities across developed markets

Halal mutual funds for Singapore-based investors

Same as for halal ETFs and index funds, the number of halal mutual funds in Singapore remain limited. The country is home to a small number of domestically managed Shariah-compliant mutual funds, primarily offered through Islamic banks or fund managers with Shariah oversight. These funds avoid haram sectors and align with key Islamic finance principles, providing local Muslims with convenient and compliant investment solutions.

In addition, Singaporean investors can access a wide range of international halal mutual funds via global platforms, giving them exposure to diversified, ethically managed portfolios.

Shariah-compliant mutual funds accessible from Singapore
Fund Name	Type	Strategy	Min. Investment (USD/SGD)	Annual Return*	Management Company
Arabesque Q3.17 SICAV (Shariah)	Open-end	ESG + Shariah-compliant global equity	~SGD 1,000 (via platforms)	~7.8%	Arabesque Asset Management (SG-licensed)
Sabana Shari’ah Compliant Fund	Open-end	REIT & income strategy under Shariah	~SGD 1,000	~5.1%	Sabana Capital/Local Trustee
Wahed Ethical Portfolio (Global)	Open-end	Diversified global equity + sukuk	$100	~9–12%	Wahed Invest
HSBC Islamic Global Equity Fund	Open-end	Large-cap halal equity portfolio	$1,000	~8.5%	HSBC Global Asset Mgmt
Franklin Global Sukuk Fund	Open-end	Investment-grade sukuk (fixed income)	$1,000	~4.2%	Franklin Templeton

Halal robo-advisors & digital investment apps

Modern fintech solutions now enable digital access to compliant investment options. Platforms like RizqX incorporate religious filters and automation to support Muslim investors in building ethical portfolios. These tools connect users to pre-screened assets, purification features, and real-time updates to maintain compliance. Unlike traditional advisory systems, these self-directed platforms empower users with greater control and clarity in how their funds are managed. Through this integration, halal investing in Singapore becomes more accessible, especially for younger investors looking for transparency and efficiency in a digital-first world.

Shariah-сompliant digital investment platforms in Singapore
Platform	Type	Features	Minimum investment	Regulation
Wahed Invest	Robo-Advisory	Shariah-certified portfolios	$100	MAS-exempt
Shirkah	Crowdfunding	Equity-based SME funding	$50	MAS-registered
HelloGold	Digital Gold	24K gold, zakat compliant	$1	Labuan FSA

Benefits and outlook

Benefits

Built‑in volatility buffer. Many Shariah‑compliant funds avoid high‑debt corporations, which often plunge hardest during market shocks.
Ethics meet outcomes. These investments often exclude firms with poor ESG scores, offering a socially conscious twist to Islamic investing.
Sukuk edge in yield. Islamic bonds in Singapore sometimes outperform conventional bonds in low-interest cycles, thanks to asset-backed structures.
AI‑powered halal screening. Platforms like RizqX use smart algorithms to continuously ensure compliance, reducing manual oversight errors.
Next‑gen wealth ecosystem. Firms like Maybank and CIMB are building tech‑enabled Islamic wealth portals tailored for millennials and digital-first users.

Outlook

Islamic assets reached USD 4.4 billion. Singapore’s Shariah-compliant funds hit around USD 4.37 billion by early 2025, reflecting strong investor demand.
Global sukuk issuance topping USD 1 trillion. In 2024, global Islamic bonds passed USD 1 trillion in issuance, and this growth is expected to continue well into 2025.
Secondary market for sukuk gaining strength. The sukuk secondary market is becoming more active in 2025, improving liquidity and investor access.
Green sukuk crossing USD 50 billion. ESG-focused Islamic bonds are projected to exceed USD 50 billion by the end of 2025, aligning Islamic finance with sustainable goals.
Singapore as a regional Islamic bridge. With its mix of financial tech, green innovation, and cross-border partnerships, Singapore is positioning itself as a key hub for Islamic finance in Asia.

How to start halal investment in Singapore

Beginner’s Guide to Halal Investing in Singapore

To begin your halal investment journey in Singapore, the first step is understanding what halal or Shariah-compliant investing really means. It follows Islamic principles, which prohibit earning from interest (riba), excessive uncertainty (gharar), and industries considered unethical such as alcohol, gambling, conventional banking, and pork-related businesses. The goal is to invest in assets that are clean both ethically and financially according to Islamic law.

Next, find a trusted platform or financial advisor that offers Shariah-compliant investment products. Many digital platforms in Singapore now offer curated halal portfolios that are pre-screened by Shariah scholars. Some local and regional banks also have dedicated Islamic wealth management services. It’s important to make sure the provider follows ongoing Shariah reviews, not just a one-time screening.

Once you’ve chosen your platform, decide the type of investment you want to start with. You can invest in halal ETFs, sukuk (Islamic bonds), Islamic unit trusts, or individual stocks that meet Shariah standards. Most platforms also clearly label which investments are compliant, and some even include a purification process to remove any non-permissible income, like incidental interest.

Finally, start with an amount you’re comfortable with and build gradually. Review your investments regularly to make sure they remain compliant, especially since some companies can shift in and out of eligibility. Halal investing is not just about returns but also about aligning your money with your values, so staying informed and intentional is key.

If you’re currently investing in halal investment options available in Singapore and are considering expanding your halal investment journey globally, there are many other Shariah-compliant opportunities worth exploring. The global financial market offers access to halal stocks, Islamic Forex accounts, and even compliant cryptocurrency platforms. These investment avenues are designed to align with Islamic principles, avoiding interest, speculation, and industries that do not meet ethical standards. For those seeking to diversify while maintaining faith-based integrity, the list of global halal-friendly platforms below can be a valuable starting point.

Best brokers that offer Islamic account
	Currency pairs	Min. deposit, $	Regulation	TU overall score	Open an account
OANDA	68		FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA	6.8	Open an account Your capital is at risk.
RockGlobal	50	200		1.97	Study review
Plus500	60	100	FCA, CySEC, MAS, ASIC, FMA, FSA (Seychelles)	6.83	Open an account Your capital is at risk.
Pepperstone	90		ASIC, FCA, DFSA, BaFin, CMA, SCB, CySec	7.17	Open an account Your capital is at risk.
FOREX.com	80	100	CIMA, FCA, FSA (Japan), NFA, IIROC, ASIC, CFTC	6.95	Study review

Leverage zakat-optimized and fintech-screened portfolios in halal investing in Singapore

If you're just starting out with halal investing in Singapore, think beyond just picking Shariah-compliant stocks. You can actually lower how much zakat you owe by choosing funds that hold assets like real estate or long-term infrastructure, things that don’t get liquidated often. When profits stay invested instead of being paid out, your zakat calculation shrinks. It’s a smart way to stay aligned with Islamic principles without getting caught in constant accounting every year.

Another clever approach is using fintech platforms that don’t just label what’s halal, but actively monitor what you own. These tools can track the percentage of your portfolio that might slip outside the lines, alert you to earnings from non-compliant sources, and even tell you how much to give away to stay clean. It’s ideal for busy investors who want peace of mind without micromanaging every stock. Let the tech do the hard work, while you focus on building wealth the halal way.

Conclusion

Shariah-compliant investments in Singapore undergo a two-tier screening process: by business activity and financial ratios. These instruments exclude involvement in prohibited sectors and limit income from non-permissible sources. Oversight follows standards set by global halal rankings and screeners, like S&PShariah Index or IdealRatings, while religious validation is guided by MUIS. Available products include sukuk, halal ETFs, Islamic accounts, REITs, and certified digital platforms. Singapore’s financial infrastructure supports Islamic instruments alongside conventional ones through MAS. Investors can access them through flexible entry points such as banks, online advisors, and licensed brokers.

FAQs

How can I verify if an asset has undergone Shariah purification?

Look for Shariah screening reports that disclose the percentage of non-compliant income and the amount recommended for purification through charitable donation.

Is it possible to include assets without official Shariah certification?

Yes, if the asset meets sector and financial criteria based on recognized screening standards and the investor can monitor income sources independently.

What strategies are used to diversify a Shariah-compliant portfolio?

Diversification involves combining asset classes such as liquid instruments (like funds), income-generating assets (sukuk, rental), and long-term holdings (real estate, equity participation).

How often should a Shariah-compliant portfolio be reviewed?

Quarterly reviews are recommended, or whenever new financial reports are released, since a company’s compliance status can change over time.

Team that worked on the article

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

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