How are Halal Money Index grades calculated?

Each provider is scored on Shariah integrity (35 points: the strength and credibility of Shariah oversight, with claims requiring published evidence such as named boards, fatwas and audit reports), transparency (20: whether the board, scholars, methodology and real fee numbers are publicly disclosed, plus how complete the provider's data profile is), cost/value (15: pricing transparency, since publishing actual rates and fees beats hiding them in a Schedule of Charges), and track record (10: at least a year in operation earns full marks, so longevity beyond that adds nothing). A 20-point verified-data credit reflects how recently our editorial team verified the provider's data against its published sources, and it decays when verification goes stale. Up to 4 editor's-pick points recognize documented benefits the rubric can't quantify, awarded only with a published rationale. Missing data is never excused: it scores a conservative floor and is flagged. Every grade is reviewed and approved before publication.

Is a low grade a religious ruling that a provider is not halal?

No. The Index is not a fatwa and HalalWallet does not issue religious rulings. A low Shariah-integrity score most often means a provider has not published evidence of independent Shariah oversight, which is a transparency problem, not necessarily a compliance one. Turkey has no statutory Shariah governance framework, which makes published documentation the primary evidence available. We encourage every consumer to review a provider's own Shariah documentation and consult a qualified scholar for religious questions.

Can providers pay for a better grade?

No. Grades are computed from the same rubric for every provider and the methodology is published in full on this page. Even the editor's-pick points are capped at 4, positive-only, and require a published rationale. Providers can improve their grade one way: by publicly disclosing stronger Shariah oversight, real rates and fees, and a complete data profile.

Why do some Turkish providers share the same grade?

Because their public disclosure profiles genuinely are similar. Turkey's participation banks all operate BDDK-required advisory committees, so their Shariah-integrity pillar clusters near the top, while providers with no published governance cluster lower. What separates leaders is the rest: publishing actual profit-sharing rates instead of quoting per customer, publishing fee schedules, and documenting more of the product line. Where the registry can't verify a data point, the provider scores the conservative floor for it.

How often are grades updated?

Grades recompute whenever the underlying registry data changes: new Shariah certifications, new declared rates, fee changes, or new disclosures. Every change is re-reviewed before it publishes. The Index is a living scorecard, not an annual snapshot.

The independent scorecard for halal money in Turkey

The Halal Money Index

Every Turkish halal provider, graded from A to B− on a transparent rubric: Shariah integrity, transparency, pricing disclosure, track record, and verified data. Computed from HalalWallet's live provider registry, reviewed before publication, and updated whenever the data changes.

Quick Answer

The Halal Money Index grades every Turkish halal finance provider from A to B- on Shariah integrity (35 points), transparency and data completeness (20), cost/value measured as pricing disclosure (15), track record (10), and verified data (20). Up to 4 further points are an editor's pick, awarded only with a published rationale. Coverage is shown for context but never scored. Of the 48 provider grades published so far, 19 earn an A or A-. The rest range from B+ down to B-, the floor grade, which means we don't yet have enough verified information rather than that a provider is bad. Grades are computed from HalalWallet's live provider registry and reviewed before publication.

Islamic Bank Accounts

Compare all islamic bank accounts options →

Mudarabah participation accounts, current accounts and term participation accounts from BDDK-licensed participation banks.

A
Ziraat KatilimHigh confidence
The state participation bank with the sector's most complete deposit paperwork: a printed 90/10 TL split for all tiers and tenors, full TMSF terms on the page, and a published three-scholar committee.
Named Advisory Committee · est. 2015 · available across Turkey · Mudarabah participation account (labor-capital partnership pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Vakif KatilimHigh confidence
Advertises a 98/2 digital profit split with a dated calculator sample printed at crawl, and uniquely documents a customer dispute escalation path to the TKBB Central Advisory Board.
Named Advisory Committee · est. 2016 · available across Turkey · Mudarabah participation account (labor-capital partnership pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Kuveyt TurkHigh confidence
Turkey's largest participation bank prints its full deposit profit-share grid, 87-13 to 96-4 by tier and tenor, under a committee chaired by the Kuwait Finance House Shariah Board chairman, though realized rates live in the calculator.
Named Advisory Committee · est. 1989 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Dunya KatilimHigh confidence
Turkey's only privately owned domestic participation bank prints its 85/15 daily Gunes split and 50/50 gold split, with the strongest physical gold rails in the sector, under a published three-professor committee.
Named Advisory Committee · est. 1984 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Hayat FinansHigh confidence
Turkey's digital participation bank prints full ratio and withholding tables with depositor shares to 99 percent on tiered accounts, under a committee chaired by a former BDDK participation banking department head.
Named Advisory Committee · est. 2022 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Emlak KatilimHigh confidence
Prints its complete TL ratio grid down to 1-day money, 75 to 95 percent depositor shares plus a 50 percent gold grid, under a three-professor committee that met 38 times in 2024 and issued 72 decisions.
Named Advisory Committee · est. 2019 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Turkiye FinansHigh confidence
Fee-free participation accounts under a committee that includes Hayreddin Karaman, with a published pre-launch approval workflow for every product, though profit rates are indicative via the calculator only.
Named Advisory Committee · est. 2005 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
TOM BankHigh confidence
The A101-backed digital participation bank pairs zero fees and a store cash network with the sector's only product-level icazet certificate, but participation rates render in-app only.
Named Advisory Committee · est. 2022 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Albaraka TurkHigh confidence
The sector founder runs fee-free multi-currency and gold accounts under a published three-scholar committee bound by TKBB standards, but profit-sharing ratios appear only through the calculator rather than as a printed grid.
Named Advisory Committee · est. 1984 · available across Turkey · Mudarabah participation account (profit-loss sharing pool)
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Home Financing

Compare all halal home financing options →

Murabaha home finance with printed profit rates, plus BDDK-licensed save-then-finance programs.

A
Albaraka TurkHigh confidence
The only Turkish participation bank with a home financing rate printed at crawl, a dated digital campaign from 2.87 percent monthly, with the housing tax exemptions shown at TRY 0 in the payment plan.
Named Advisory Committee · est. 1984 · available across Turkey · Murabaha home financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Dunya KatilimHigh confidence
Prints the BSMV tax break for first-home buyers, 0 percent versus 15 percent, and discloses the upfront arrangement fee, with profit rates quoted via a non-binding calculator.
Named Advisory Committee · est. 1984 · available across Turkey · Murabaha home financing (cost-plus installment sale) with mortgage security
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Emlak KatilimHigh confidence
The housing specialist's Gonlune Gore plan can cut the financing rate to zero, funded by the customer's own accumulated profit share, with no system fee and no exit penalty, though standard rates are quoted per profile.
Named Advisory Committee · est. 2019 · available across Turkey · Save-then-finance program (mudarabah savings offsetting murabaha cost)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Turkiye FinansHigh confidence
Prints its fee schedule to the lira, TRY 500 arrangement and TRY 3,000 mortgage lien, and discloses that advertised rates assume bundled insurance, but the profit rates themselves run through the calculator.
Named Advisory Committee · est. 2005 · available across Turkey · Murabaha home financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Kuveyt TurkMedium confidence
Terms to 120 months with fixed or irregular installment plans from the sector leader, but the monthly profit rate is quoted via calculator, branches and campaigns rather than printed.
Named Advisory Committee · est. 1989 · available across Turkey · Murabaha home financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Ziraat KatilimMedium confidence
Home finance to TRY 10 million over 120 months with the state Konut Hesabi savings match documented, but profit rates are quoted via calculator and campaign packages.
Named Advisory Committee · est. 2015 · available across Turkey · Murabaha home financing (cost-plus installment sale) with mortgage security
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Vakif KatilimMedium confidence
Prints full energy-class LTV grids for first and second homes and finances land to 60 months, but profit rates are quoted via calculator and branches.
Named Advisory Committee · est. 2016 · available across Turkey · Murabaha home financing (cost-plus installment sale) with mortgage security
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Car Financing

Compare all halal car financing options →

Murabaha vehicle financing with fixed printed rates and no conventional interest mechanics.

A
Vakif KatilimHigh confidence
The only standing vehicle rate card printed in Turkish participation banking at crawl: 3.40 to 3.50 percent monthly by tenor with the TRY 500 arrangement fee and 68.73 to 72.55 percent annualized cost printed.
Named Advisory Committee · est. 2016 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Albaraka TurkHigh confidence
A dated campaign rate from 3.19 percent monthly with the bank's own worked example showing about 64.5 percent annualized cost, unusually honest arithmetic for the sector.
Named Advisory Committee · est. 1984 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Kuveyt TurkMedium confidence
New and used vehicle finance within printed BDDK value caps from the sector's largest bank, including a dedicated TOGG program, but monthly rates are quoted via app, calculator and campaigns.
Named Advisory Committee · est. 1989 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Turkiye FinansMedium confidence
Vehicle finance that discloses its rates differ with or without bundled insurance, within printed regulatory tenor bands, but the rates themselves run through the calculator.
Named Advisory Committee · est. 2005 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Ziraat KatilimMedium confidence
Vehicle finance from the state participation bank with credit life and kasko routed through participation insurers, but profit rates are quoted via calculator and branches rather than printed.
Named Advisory Committee · est. 2015 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Emlak KatilimMedium confidence
The Cevreci Arac green variant prices 2 points below the standard monthly rate for EVs and hybrids, a printed differential, though the base rates themselves are quoted at branches.
Named Advisory Committee · est. 2019 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Dunya KatilimMedium confidence
Vehicle finance with the arrangement fee disclosed as collected upfront and excluded from quoted totals, but rates come from a non-binding calculator.
Named Advisory Committee · est. 1984 · available across Turkey · Murabaha vehicle financing (cost-plus installment sale)
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Investing

Compare all halal investing options →

SPK-approved katilim funds, sukuk (lease certificates), gold products and BIST Katilim equities.

A-
KT PortfoyHigh confidence
Turkey's first and largest participation asset manager, 607 billion TL at its tenth anniversary, publishes its five-scholar committee with biographies and prices its gold fund at a printed 0.30 percent.
Named Advisory Committee · est. 2015 · available across Turkey
Score breakdown
Shariah integrity
35/35
Transparency
20/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Kuveyt TurkHigh confidence
A free sukuk investment account from the sector leader restricted to advisory-board-approved lease certificates, though rents run per issue terms and withholding varies by decree.
Named Advisory Committee · est. 1989 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Albaraka PortfoyMedium confidence
A boutique participation manager whose committee is chaired by an AAOIFI Board of Trustees member, with icazet dates printed per fund, but every management fee defers to the KAP prospectus.
Named Advisory Committee · est. 2015 · available across Turkey
Score breakdown
Shariah integrity
35/35
Transparency
17/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
DarphaneHigh confidence
The State Mint's fee-free, fully allocated gold certificate carries a TKBB Advisory Board decision approving participation fund trading, the closest thing to a sector fatwa a listed Turkish instrument can have.
Third-party certified · available across Turkey
Score breakdown
Shariah integrity
29/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Turkish TreasuryHigh confidence
Sovereign lease certificates running since 2012, the benchmark interest-free TL and gold assets, with rent near 1.20 percent per six months printed on early gold issues; savers must avoid the coupon-paying Altin Tahvili.
Third-party certified · est. 2012 · available across Turkey
Score breakdown
Shariah integrity
29/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Kuveyt Turk YatirimHigh confidence
Turkey's first participation brokerage screens the tradable universe at order level under the group's advisory board, with zero fixed account costs, though the entity publishes no standalone scholar roster.
Group advisory board oversight · est. 2024 · available across Turkey
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Ziraat PortfoyMedium confidence
Turkey's largest asset manager runs the flagship Z30KP participation ETF at a printed 0.50 percent fee, but the committee behind its katilim funds is unnamed in public documents.
Advisory committee claimed, roster not published · est. 2002 · available across Turkey
Score breakdown
Shariah integrity
23/35
Transparency
15/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
fonbulucuAwaiting verified dataHigh confidence
Turkey's volume leader in equity crowdfunding, 1 billion TL across 101 ventures, is structurally interest-free and free for investors, but campaign companies are unscreened by any Shariah reviewer.
No public Shariah review · est. 2021 · available across Turkey
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
Recently verified Aug 2026
B-
FonangelsAwaiting verified dataHigh confidence
SPK-licensed share-based crowdfunding that is structurally interest-free and free for investors, host of Turkey's largest-ever equity round, but no scholar reviews the listed ventures.
No public Shariah review · est. 2021 · available across Turkey
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
Recently verified Aug 2026

Islamic Retirement

Compare all islamic retirement options →

Shariah-compliant katilim BES pension plans from Turkish providers.

A
Garanti BBVA EmeklilikHigh confidence
The best-documented katilim window in conventional Turkish pensions: named scholars, annual icazet certificates published for every year from 2021 through 2025, and an OKS plan priced at a printed 0.85 percent fund fee.
Named Advisory Committee · est. 2021 · available across Turkey
Score breakdown
Shariah integrity
35/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Katilim EmeklilikHigh confidence
The participation banks' own pension company, founded by Albaraka Turk and Kuveyt Turk, publishes product icazet certificates and a signed annual participation compliance report across a 20-fund interest-free shelf.
Named Advisory Committee · est. 2013 · available across Turkey
Score breakdown
Shariah integrity
35/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Anadolu Hayat EmeklilikMedium confidence
Turkey's oldest pension company runs a named three-scholar committee with granular per-plan and per-fund icazet certificates, but plan fees sit in contract documents rather than on public pages.
Named Advisory Committee · est. 1990 · available across Turkey
Score breakdown
Shariah integrity
35/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Turkiye Hayat ve EmeklilikMedium confidence
Turkey's largest life and pension company prints its katilim plan economics to the lira, including a zero-deduction variant, but its advisory committee scholars are not publicly named.
Advisory committee claimed, roster not published · est. 2020 · available across Turkey
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Bereket EmeklilikMedium confidence
Turkey's first interest-free pension company, running since its 2011 founding as Asya Emeklilik and now under Tarim Kredi ownership, but committee member names are not published and plan fees sit in contracts.
Advisory committee claimed, roster not published · est. 2011 · available across Turkey
Score breakdown
Shariah integrity
23/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Participation Insurance

Compare all participation insurance options →

Motor, home, health and life covers from Turkey's SEDDK-regulated participation insurers.

B+
Neova Katilim SigortaMedium confidence
Turkey's takaful benchmark: a four-scholar committee with 12 meetings and 57 contract approvals in 2025, a segregated risk fund with a distributable surplus provision on the balance sheet, though every line is quote-based.
Named Advisory Committee · est. 2009 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Turkiye Katilim SigortaMedium confidence
The state participation banks' general insurer under the Aktepe-chaired shared committee on the Full Participation Model, but no rate card is published anywhere.
Named Advisory Committee · est. 2022 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
16/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Bereket SigortaMedium confidence
Cooperative-rooted participation insurance dating to 1995 under a published three-scholar committee whose signed fiqh opinion appears in the annual report, but all pricing is quote-based.
Named Advisory Committee · est. 1995 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
16/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
HDI Katilim SigortaMedium confidence
A published committee and icazet certificate, with the honest disclosure that it runs the supervised participation model without a surplus mechanism; pricing is quote-based via aggregators.
Named Advisory Committee · est. 2023 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
16/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Turkiye Katilim HayatMedium confidence
Credit life and retail life on the Full Participation Model under a shared named committee, priced per financing amount at the bank or by call-center quote.
Named Advisory Committee · est. 2022 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Katilim EmeklilikMedium confidence
Life covers from the participation banks' joint venture under its named committee, payable through Kuveyt Turk or Albaraka accounts, but premiums are quoted individually.
Named Advisory Committee · est. 2013 · available across Turkey
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
Bereket EmeklilikAwaiting verified dataLow confidence
Farmer-focused life covers with printed benefit tiers to 500,000 TL sold through the cooperative network, but premiums are quote-based and the statutory committee's scholars are unnamed.
Advisory committee claimed, roster not published · est. 2011 · available across Turkey
What we're missing to score higher:
- Shariah board claim lacks published evidence
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026

Halal Business Financing

Compare all halal business financing options →

Murabaha working capital and asset finance plus Katilim Finans Kefalet guarantee support for SMEs.

B
Katilim Finans KefaletMedium confidence
The participation sector's guarantee institution, founded 2023 by the Treasury ministry, TKBB and seven participation banks, with about 48 billion TL guaranteed for 7,000 businesses, but commissions are communicated only at partner banks.
Third-party certified · est. 2023 · available across Turkey · Kefalet (surety) on participation financings, funded from KFK capital
Score breakdown
Shariah integrity
29/35
Transparency
10/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Wills & Estate Planning

Compare all wills & estate planning options →

Notarial wills, faraid guidance and charitable bequests under Turkish law.

B+
Diyanet Isleri BaskanligiHigh confidence
Free national access to Turkey's highest religious authority for inheritance rulings, via the Alo 190 line, written fatwa applications and provincial muftis; the Din Isleri Yuksek Kurulu is the reference standard other services follow.
Din Isleri Yuksek Kurulu authority · est. 1924 · available across Turkey · Official fatwa and guidance service (free)
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

How the grades work

Pillar	Points	What we measure
Shariah integrity	35	Strength of oversight: formal Shariah board (strongest) → third-party certification → named scholar → no public review (weakest). Claims require published evidence; an unsubstantiated “formal board” scores at the named-scholar tier.
Transparency	20	Are the board members named? Is the oversight detail published? Are real fee and rate numbers in plain sight? Plus data completeness: the more of their profile a provider shares, the more they earn. Disclosure always beats silence.
Cost / value	15	Pricing transparency, not price level: publishing actual declared rates, spreads, fees or expense ratios scores; pointing customers to an unpublished Schedule of Charges does not. Where nothing numeric is on file the pillar scores a conservative floor and is flagged.
Track record	10	A legitimacy check, not a longevity contest: at least a year in operation earns full marks. Decades in business don't add points, but brand-new pop-ups and undisclosed founding dates can't hold a top score.
Verified data	20	How recently our editorial team verified the provider's data against its published pages and documents. The credit decays when verification goes stale, so a strong grade cannot coast on old data. Coverage is displayed but never scored.
Editor's pick	4	Positive-only editorial points for real, documented benefits no rubric can quantify. Awarded only with a published rationale. A perfect 100 requires it, but an A doesn't.

Letter scale

A 90+ · A- 85+ · B+ 78+ · B 70+ · B- 0+. B− is the floor: it means we don't yet have enough verified information to score the provider higher, not that the provider is bad. Floor-tier rows show what's missing instead of a numeric score. Products with structural red flags, such as undisclosed riba, are removed from the Index rather than graded.

Verified data decays

Verified data is worth 20 points, a fifth of the grade. Past 30 days without re-verification the credit decays (minus 8, then minus 14 at 60 days, minus 20 at 90) until the data is confirmed again, so stale data cannot keep a strong grade.

The Index is an editorial transparency rating, not a religious ruling or financial advice. Grades are computed from HalalWallet's provider registry, reviewed before publication, and recomputed when the underlying data changes. Confidence labels reflect how complete a provider's verified data is. Providers cannot pay for a grade. See our methodology for how the registry itself is built.

Frequently Asked Questions

How to cite this page

Preferred format:

HalalWallet. “The Halal Money Index.” HalalWallet, https://www.halalwallet.com.tr/halal-money-index. Accessed 2026-08-13.

For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.

Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.