About ShariaPortfolio
A boutique asset management firm specializing
in socially responsible and halal investing
About
ShariaPortfolio
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.
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
Founder, Chairman of the Board, Portfolio Manager

Aliredha Walji
CEO

Glenn Vitale
CFO

Shaykh Umer Khan
Sharia Advisor

Rezwana Abed
Investment Advisor Representative

Farhat Shirazi
Client Service Manager

Lori Sabino
Operations Manager

Fatema H. Alidina
Executive Assistant to CEO

Shafaq Kazi
Investment Advisor Representative

Ishaq Mohiuddin
Investment Advisor Representative

Allan Paull
Investment Advisor Representative

Murtaza Kermalli
Accounting Manager

Siraj Virji
Intern

Carlos Perez
IT Administrator

Sarrah Virji
Bookkeeping Clerk

Kautia Matyko
Client Service Associate

Fatemeh Astani
Marketing Specialist
Is there a minimum initial investment to open an account with ShariaPortfolio?
To open an account with our digital Express robo-advisor, the minimum initial amount is $1,000. For our Access personal wealth management service, the minimum initial amount is $100,000. Please note that this can include several accounts with ShariaPortfolio. For example, you may have a rollover IRA, a joint account and an education savings account with us that, together, come to a total of $100,000 or more. Our advisors look forward to working with you to achieve your financial goals!
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
- Tobacco
- Adult Entertainment
- Pork Products
- Highly-leveraged Businesses
- Interest-Based Businesses
- Music, Cinema or Broadcasting
Financial screens
- Interest-bearing debt divided by 12-month average market capitalization should be less than 30%
- Cumulative revenue from non-compliant activities and non-operating interest income should not exceed 5% of total income
- Cash, cash equivalents and short-term investments divided by the 12-month average market capitalization should be less than 30%
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 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.
Omars Sulessiman has joined ShariaPortfolio as an Ethical Advisor. Read More >