About ShariaPortfolio

A boutique asset management firm specializing
in socially responsible and halal investing



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

 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 serves as the Client Service Manager at ShariaPortfolio. Having spent a few years as a top performing client service associate herself, Farhat is well-informed regarding the detailed processes of the department. She also cares deeply about ShariaPorfolio’s clients and strives to ensure their service requests are taken care of in a timely and professional manner. Even as an associate, Farhat was instrumental in training new team members and providing support to colleagues, effectively helping to run an efficient Client Service department. When she is not sharing her insight and expertise at ShariaPortfolio, Farhat likes to travel and spend time with her family.

Salaudeen Nausrudeen

 Phone: 321-275-5125 Ext. 826

 Email: salaudeen@shariaportfolio.com

Salaudeen Nausrudeen is purpose driven marketing executive with 15 years of experience successfully implementing fresh ideas for companies eager to grow in the Islamic Finance space. Creative visionary with the ability to blend new technologies with marketing concepts to engage consumers and expand business reach. Salaudeen is a specialist in marketing and branding in the Islamic Finance and sports marketing.

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) started her career as a Course Counselor for a software company. She has taught high school Math/Science in US private and public schools. Shafaq spent 5 years as a Team lead at Bayyinah TV where she wore many hats including but not limited to Customer Care, Daily Operations,  Website & CRM 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 talents 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 adult 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.

Lori Sabino

 Phone: (321) 275-5125 x 819

 Email: lori@shariaportfolio.com

Lori Sabino is a client service associate for ShariaPortfolio, based in Lake Mary, Florida. Lori has over 30 years of customer service in the retail and financial industries and obtained her BA in business administration management from the Florida Institute of Technology. She is outgoing and is very passionate about helping others and making a difference in people’s lives. In her spare time, she volunteers within the community and loves spending time with her family and friends.

Fatema H. Alidina

 Phone: (321)-275-5125

 Email: fatema@shariaportfolio.com

Fatema Alidina graduated the University of California, Santa Barbara in 2010 with Bachelor of Arts Degrees in Communication, and Sociology. She worked at Omnicom Media Group as a Strategist before joining ShariaPortfolio, USA in 2014 where she worked as a Marketing Associate and Client Services Manager. Fatema rejoined SP Funds as the Executive Assistant to Naushad Virji in 2019. With communication, professionalism and faith at the heart of her career, Fatema considers herself a chameleon and has the ability to seamlessly contribute to many different aspects of SP Funds’ sprawling brand. In her spare time, Fatema enjoys yoga, traveling, and spending time with her three children.

Glenn Vitale

Phone: 321-275-5125 Ext. 824

Email: glenn@shariaportfolio.com

Glenn Vitale joins ShariaPortfolio as a licensed Certified Public Accountant in Florida and a Certified Specialist in Estate Planning by profession. Mr. Vitale graduated from Florida Atlantic University where he earned a Bachelor of Business Administration with a Major in Accounting. In addition to his CPA, Mr. Vitale earned the designation Certified Specialist in Estate Planning, Master Analyst in Financial Forensics, and Certified Valuation Analyst. Glenn Vitale has over 15 years experience in corporate accounting & financial management and over 25 years experience in public accounting. He is an active member of the American Institute of Certified Public Accountants, Florida Institute of Certified Public Accountants and the National Alliance of Trust & Estate Professionals.

Sarrah Virji

Phone: 321-275-5125 Ext. 829

Email: sarrah@shariaportfolio.com

Sarrah Virji is a current fourth-year undergraduate student at the University of British Columbia pursuing a major in Speech Sciences and a minor in Spanish. She joined ShariaPortfolio Canada as an Accounting Assistant in 2018 and has since rejoined SP Funds as Bookkeeping Clerk. Her hard-working, attentive, and meticulous nature self-motivate her to challenge the limits and promote growth in other areas. In addition to this position, Sarrah works as a part-time hairdresser and is highly involved in the Speech and Linguistics Student Association at her university. In her free time, she enjoys channeling her creativity through anything from building/fixing furniture to mending clothes.

Frequently Asked Questions (FAQs)

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

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 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.

Omar Suleiman has joined ShariaPortfolio as an Ethical Advisor. Read More > 

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