EFA
iShares MSCI EAFE ETF
Is EFA Halal?
International developed markets ETF — banks and financials dominate.
What You Should Know
EFA's January 31, 2026 report shows $74.598 billion of assets. Disclosed interest and securities-lending income is about 0.14% of investment income, but the international developed-market portfolio includes European and Japanese banks, insurers and other mixed activities. It is not Sharia-screened.
⚠️ Concerns
- •European banks
- •Japanese banks and financials
- •No Sharia screening
Current quantitative Sharia screen
Based on N-CSR figures for the period ended 2026-01-31; calculated 2026-07-14.
0 / 74,597.862
417.282 / 74,597.862
388.059 / 74,597.862
0.843 / 592.935
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 0.56% and receivables plus cash/assets is 0.52%; disclosed incidental income is about 0.14%, while activity classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined MSCI asset limits, but underlying issuer activity is not classified by a universal prohibited-revenue numerator.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia limits; the pass-through portfolio remains qualitatively and methodologically incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series and a fund-level prohibited-income convention are not stored.
Business-activity disclosure
EFA is an international developed-market pass-through ETF. The portfolio includes European and Japanese banks, insurers and other mixed activities that are not uniformly screened by the fund.
Limitation: The report provides holdings and income lines but no school-neutral prohibited-revenue allocation across every underlying issuer.
Purification
EFA discloses incidental interest and securities-lending income, but no scholar-approved purification percentage is inferred from the aggregate fund distribution.
Inputs, assumptions and primary sources
- Amounts are USD millions from EFA's January 31, 2026 shareholder report.
- The report shows USD 74,597.862 million of total assets, USD 133.394 million of cash and foreign currency, USD 283.888 million in money-market funds and USD 254.665 million of listed receivables.
- Interest and securities-lending income totals USD 0.843 million against USD 592.935 million of investment income, or about 0.14%.
- European and Japanese banks, insurers and other mixed activities are qualitative look-through observations, not a universal prohibited-revenue percentage.
- ETF look-through ratios are not an official FTSE, MSCI or Malaysia classification.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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