About
RaqabaIQ is a partnership between Raqaba, a Shariah audit and advisory firm, and Muslim Xchange, a halal investing technology platform. Between them they cover both halves of compliance: the scholarship that sets the standard, and the technology that applies it to live markets every day.
What each side brings
Most screening services publish a verdict and leave you to trust it. RaqabaIQ separates the two jobs and names who does each one. Raqaba’s scholars own the methodology and the rulings; Muslim Xchange builds the pipelines that apply them to thousands of companies without diluting them.
Raqaba
Scholarship and oversight
- Founded in 2007, with operations across the Middle East, Europe, Africa and North America.
- Chaired by Dr. Abdulbari Mashal, a former AAOIFI Shariah Board member and adviser to regulators and Islamic financial institutions worldwide.
- Practice spans Shariah audit, sukuk, Islamic banking, REITs and product structuring.
- Author of the Raqaba Shariah Index, a scoring model used across GCC markets.
Muslim Xchange
Data and delivery
- Data pipelines that automate Shariah screening across global markets and keep results current.
- Every listed stock and ETF screened against eight Shariah standards, with every ratio open to inspection.
- Used by ETF issuers, Islamic banks and individual investors for halal stock analytics.
- Tools for compliance monitoring, portfolio tracking and ongoing purification.
Why institutions use it
- Shariah authority
- Rulings come from certified scholars at Raqaba, led by Dr. Mashal’s decades of work across global Islamic finance.
- Screening at scale
- One methodology applied consistently, from a single holding to an entire index, with results refreshed daily.
- Transparency
- Published methodology, visible calculations, and direct answers from the scholars behind the rulings.
- One workflow
- Screening, charting, watchlists, portfolio tracking and purification in a single platform.
The people behind it
Dr. Abdulbari Mashal, PhD
Chairman, Raqaba
Served on the AAOIFI Shariah Board from 2007 to 2010 and advises regulators and financial institutions internationally.
Nizar Abdulbari Mashal, MBA
Regional Director, Raqaba
Works on Islamic financial product development, impact investing and fintech advisory.
Faraz Omar, CSAA, MBA
Founder, Muslim Xchange
Technical partner, responsible for implementing the Shariah methodology in the screening of global stocks and funds.
Get access to RaqabaIQ
RaqabaIQ is provided to institutions, advisers and their clients. Access is arranged directly with our team: tell us what you need to screen and how many seats, and we’ll set you up.