About ShariaPortfolio
A boutique asset management firm specializing
in socially responsible and halal investing
About
ShariaPortfolio
At ShariaPortfolio, we offer professionally managed investment solutions that help Muslims achieve their life goals while honoring their personal values. We know that our clients have unique financial needs so we provide a full range of investment options, including our digital Express robo-advisor, Access personal wealth management services, 401(k) retirement plans and our Institutional service for advisors who wish to offer halal options to their clients.
With over 15 years of experience working in diverse market conditions, we apply a rigorous research and analytics approach to wealth management, focusing on value investing for long-term results. ShariaPortfolio is pleased to offer its brand of Sharia-compliant investment services in many countries around the world.
Sharia-Compliant Investing
ShariaPortfolio manages all portfolios in accordance with the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and under the guidance of our ethical advisor, Imam Omar Suleiman. Our investment choices are Sharia compliant, or halal, which means they are permissible under Islamic guidelines.
To be Sharia compliant, companies and investments must pass several screens for permissible asset classes and business activities. Stocks and Islamic ETFs are eligible for Sharia compliance consideration but preferred shares and interest-paying securities are not. A business activities screen excludes companies that derive more than five percent of their total income from non-compliant income sources.
Non-Compliant Income Sources:
- Alcohol
- Gambling
- Weapons
- Tobacco
- Adult Entertainment
- Pork Products
- Highly-leveraged Businesses
- Interest-Based Businesses
- Music, Cinema or Broadcasting
Our Team
Experienced and trusted professionals working diligently to determine suitable investment strategies
and build custom portfolios that adhere to Islamic principles and personal values.
Naushad Virji
CEO
Sh. Omar Suleiman
Ethical Advisor
Aliredha Walji
Vice President, USA
Farhat Kanani
Client Service Associate
Sabinah Amershi
Client Services Manager
Ishaq Mohiuddin
Investment Advisor Representative
Allan Paull
Investment Advisor Representative
Shafaq Kazi
Investment Advisor Representative
Karim Elgabry
Portfolio Manager
Murtaza Kermalli
Accounting Manager
Wendy Hollis-Billitteri
Client Service Associate
Naushad Virji
Phone: (321) 275-5125 x 801
Email: info@shariaportfolio.com
Naushad Virji was born in Italy in 1971 but has lived in Florida since 1975. Naushad earned a degree in business administration from the University of Florida and then went on to successfully complete his series 65 NASD examination to become a registered investment advisor representative. Based in our Orlando area office, Naushad is the CEO of ShariaPortfolio.
With an interest in activism and community service, Naushad co-founded the United Muslim Foundation, where he currently serves on the board of directors. Naushad is also on the advisory board of Advance Law, a Washington, DC based legal consulting firm that works with some of the largest companies in the world to help them retain quality law firms that have been carefully vetted to provide superior value.
Living in Longwood, Florida, Naushad is happily married with three children. His personal interests include golf, tennis and spending leisure time with his family.
SH. Omar Suleiman
Phone: (321) 275-5125
Email: info@shariaportfolio.com
“Imam Omar Suleiman is the Founder and President of the Yaqeen Institute for Islamic Research, and an adjunct professor of Islamic studies in the graduate liberal studies program at Southern Methodist University (SMU). He is also the resident scholar at Valley Ranch Islamic Center and co-chair emeritus of Faith Forward Dallas at Thanks-Giving Square. He holds a bachelor’s in accounting, a bachelor’s in Islamic Law, a master’s in Islamic Finance, a master’s in political history, and is currently pursuing a PhD in Islamic thought and civilization from the International Islamic University of Malaysia.
Imam Omar has amassed a large following due to his scholarship, humanitarian and activist work. By joining ShariaPortfolio as an advisor, he plans to educate the Muslim community about the virtues of investing in Islam and following Halal Rizq, or the practice of assuring one’s income be 100% lawful.”
Aliredha Walji
Phone: (321) 275-5125 x 811
Email: aliredha@shariaportfolio.com
Aliredha Walji manages the US operations at ShariaPortfolio, Inc. Based out of the company’s main office in Lake Mary, FL, Aliredha has traveled across the United States presenting on the topic of Halal Investing at a variety of venues, including mosques, personal residences and large conventions. During his tenure at ShariaPortfolio, Aliredha has helped to double the company’s total assets under management, as well as grow the advisor team. He holds an undergraduate degree from the University of Minnesota, and a Masters of Business Administration from Crown College, a faith-based institution.
Farhat Kanani
Phone: (321) 275-5125 x 817
Email: farhat@shariaportfolio.com
Farhat Kanani started at ShariaPortfolio as an administrative assistant but, motivated by a desire to learn and grow, she soon moved into her current position as a client service associate. Farhat cares deeply about ShariaPortfolio’s clients and strives to ensure their service requests are taken care of in a timely and professional manner. She has been instrumental in training new team members in the policies and details required to run an efficient, supportive client services department. When she is not sharing her insights and expertise at ShariaPortfolio, Farhat likes to travel and spend time with her family.
Sabinah Amershi
Phone: (321) 275-5125 x 816
Email: sabinah@shariaportfolio.com
Sabinah was a successful Client Service Representative at Bank of America before joining ShariaPortfolio in 2015. She started as a Client Service Associate but quickly rose the ranks and became the Client Service Manager and now manages the team of Associates. Her attention to detail and focus on customer care ensure that our clients are in good hands.
Ishaq Mohiuddin
Phone: (321) 275-5125 x 806
Email: ishaq@shariaportfolio.com
Ishaq Mohiuddin earned an MBA from Northern Illinois University. He has a long history in financial services in various capacities. He also has experience with corporate America working at Kraft Foods and Motorola. Ishaq is ShariaPortfolio’s Senior Investment Advisor servicing the Chicago area.
Ishaq believes strongly in giving back to the community and volunteers his time in many worthwhile endeavors. He has done motivational speaking at Chicago public schools. He worked as a Sunday school principal with 250 students and 40 teachers under his leadership. Ishaq offered financial seminars at the Waukegan UMMA Center for under-privleged residents.
Allan Paull
Phone: (321) 275-5125 x 804
Email: allan@shariaportfolio.com
Allan has spent more than 20 years working in the financial services industry. The knowledge he has gained from his hands-on training and experience working in the financial field has proven, in many cases, more beneficial than anything learned from college text books. Allan is ShariaPortfolio’s Senior Investment Advisor servicing our Tampa, Florida area clients.
Allan and his wife live in the Wesley Chapel area on the northern side of Tampa, Florida. When Allan is not helping his client’s achieve their financial goals, you can usually find him at one of the area’s beautiful golf courses.
Shafaq Kazi
Phone: (321) 275-5125 x 818
Email: shafaq@shariaportfolio.com
Shafaq Kazi (BS Chemistry, Bombay University) started her career as a Course Counselor for a software company. She has taught high school Math/Science in private and public schools. Shafaq spent last 5 years as a Team lead at Bayyinah TV, where she wore many hats including but not limited to Customer Care, CRM Management, Daily Operations and Website Management. She has always been involved with volunteerism in different capacity. Shafaq lead educational classes and motivational talks at local community center, using multimedia and visual aids to enhance learning experience for women. Attention to detail, empathy and good listening skills are some of the skills that women can bring to investment advising yet they continue to be under-represented in this field. Shafaq hopes to see this change in near future. Living in the eclectic city of Austin, TX, Shafaq is happily married with two college going children. She is an avid reader and considers herself a seeker of knowledge.
Karim Elgabry
Phone: (321) 275-5125 x 803
Email: karim@shariaportfolio.com
Karim Elgabry is the Portfolio Manager at Shariaportfolio, Inc. He has received a Bachelor’s Degree in Accounting and Finance. Karim has served in many different financial industry positions.
Karim has over eight years’ experience with progressive advancement in the financial industry and Islamic finance, serving as an equity trader, loan originator, financial and technical analyst and portfolio management. He has also earned his Master of Science degree in Financial Analysis and Investment Management from Saint Mary’s of California.
Murtaza Kermalli
Phone: (321) 275-5125 x 805
Email: murtaza@shariaportfolio.com
Murtaza joined ShariaPortfolio, Inc in 2007 as the Accounting Manager. Murtaza has 15 years of experience in the Banking sector and 12 years of experience in the Insurance industry. He has worked in Tanzania, Kuwait and Pennsylvania, USA before moving to Florida. He acquired a Diploma in Banking while working for The Commercial Bank of Kuwait, and has also earned a Bachelor’s Degree in Accounting from De Sales University in Pennsylvania. Murtaza has three children and ten grandchildren. His motto is: Do it right the first time.
Wendy Hollis-Billitteri
Phone: (321) 275-5125 x 820
Email: wendy@shariaportfolio.com
Wendy Hollis-Billitteri is a client service associate for ShariaPortfolio, based in Lake Mary, Florida. Prior to joining ShariaPortfolio, she was a successful client account and project manager in the health care industry for more than 12 years and held previous client and account management positions. Wendy is deeply committed to her clients, as is demonstrated by her attention to detail, excellent rapport-building skills and focus on providing impeccable client service.
Frequently Asked Questions (FAQs)
Is there a minimum initial investment to open an account with ShariaPortfolio?
What do your services cost?
We charge a flat management fee, which ranges between 0.40 percent to 1.50 percent per year, depending on the amount of assets being managed and the type of service provided. Unlike many other advisors, we do not charge fees for making trades nor do we take commissions from mutual fund companies. We are also fiduciaries, which means that we are legally obligated to place our clients’ interests first. At ShariaPortfolio, you can rest assured that you’ll receive unbiased advice and expertise.
How do I know my money is safe with your firm?
ShariaPortfolio uses reputable custodians, such as TD Ameritrade, to hold your portfolio. Clients have 24/7 access to their accounts with no long-term commitments. Your money will be managed according to your objectives, risk tolerance and preferences.
What are the Sharia guidelines used to screen global equities?
The Sharia guidelines are based on the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars, and are as follows:
Asset classes
Only stocks and Islamic ETFs are eligible for Shariah-compliance consideration. Preferred shared are considered to be non-compliant.
Business activities screens
Companies are only to be considered compliant from a business perspective if the cumulative revenue from non-compliant activities and non-operating interest income does not exceed 5% of their total income. Non-compliant income sources include the following:
- Alcohol
- Gambling
- Weapons
- Tabacco
- Adult Entertainment
- Pork Products
- Highly-leveraged Businesses
- Interest-Based Businesses
- Music, Cinema or Broadcasting
Financial screens
The following screens have to be fulfilled to ensure Sharia-compliance according to the defined rules:
- Interest-bearing debt divided by 12-month average market capitalization should be less than 30%
- Cash, cash equivalents and short-term investments divided by the 12-month average market capitalization should be less than 30%
- Cash, cash equivalents and receivables divided by total assets should be less than 30%
- Cumulative revenue from non-compliant activities and non-operating interest income should not exceed 5% of total income
How do you ensure Sharia compliance?
We rely on IdealRatings, which is the global market leader in screening equities to identify Sharia-compliant equities in an accurate and timely manner. IdealRatings research-based data is audited, approved and used by Sharia scholars in more than 10 countries. Global equities are screened by IdealRatings based on the Sharia rules defined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars.
What is the difference between ShariaPortfolio and a mutual fund?
ShariaPortfolio offers a comprehensive solution to investing that includes a variety of Sharia-compliant stocks and mutual funds. You can think of mutual funds as products being offered by investment companies. Financial advisors like ShariaPortfolio offer services whereby they help investors by managing their investments, which may include mutual funds and individual stocks.
Can I choose some of the stocks to add to my portfolio?
Yes. We’re pleased to offer a fully customized solution for your investment needs through our Access personal wealth management service. You can request that we add a stock or fund to your portfolio at anytime.
How long has ShariaPortfolio been around?
ShariaPortfolio, Inc. is an investment advisory firm registered with the Securities and Exchange Commission. Virji Investments, Inc. launched the ShariaPortfolio brand in 2003. After years of successful growth, ShariaPortfolio became a separate corporation in 2014. The firm now has clients in more than 25 states and around the world.
Ready to take the next step? We’re here to help.
Access provides custom solutions and personal advisor services for investors with $100,000 or more to invest. Just three easy steps will get you started.
Express is an online option offering investment solutions for investors with $1,000 or more to invest. Create your own secure online account in just a few hours.
401(k) plans offer a wide range of halal investments and are designed to help your employees save for a more secure retirement. Opening an account is fast and easy.
Institutional services enable financial advisors to provide their clients with Sharia-compliant investment solutions. Get started in less than five minutes.
Select an option to the right to take the next step in opening an account and investing the halal way.
Access
Comprehensive wealth management service
401(k)
Sharia-compliant 401(k) retirement plan
Express
Sharia-compliant robo-advisor service
Institutional
Institutional service for investment advisors
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Omar Suleiman has joined ShariaPortfolio as an Ethical Advisor. Read More >
Omar Suleiman has joined ShariaPortfolio as an Ethical Advisor. Read More >