SLV
iShares Silver Trust
Is SLV Halal?
Physical silver ETF — silver is permissible in Islamic finance.
What You Should Know
SLV's March 31, 2026 filing reports $35.688 billion of silver bullion, with only $59.2 million of receivables and no separately reported cash or interest-bearing securities. Silver is a ribawi asset; permissibility depends on ownership, qabd and settlement terms that scholars interpret differently.
⚠️ Concerns
- •Some scholars prefer direct physical silver
- •Exchange-traded trust interests may raise qabd and settlement questions
Current quantitative Sharia screen
Based on Form 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 35,746.76
0 / 35,746.76
59.232 / 35,746.76
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets and liquidity/assets are 0.00%, while receivables/assets are 0.17%; a comparable operating-income numerator is unavailable for this silver trust.
- Financial
- Pass
- Overall
- Incomplete
Reported debt, liquidity and receivables-plus-cash are below the examined MSCI total-assets limits, but possession and settlement analysis remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Reported debt, liquidity and receivables ratios are below the examined Malaysia limits; silver contract mechanics require separate qualitative review.
- Financial
- Not calculated
- Overall
- Incomplete
A market-cap denominator is not meaningful for this silver trust and no licensed historical series is stored.
Business-activity disclosure
The trust's disclosed asset is silver bullion, an asset that can be permissible when ownership, possession and settlement conditions are satisfied. The filing does not establish a school-neutral conclusion on constructive possession or each redemption path.
Limitation: The filing does not provide a universal scholar-approved conclusion on possession and settlement for every market participant.
Purification
No prohibited operating-income stream or scholar-approved purification percentage is disclosed; ZakatInvest does not infer one.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from the unaudited March 31, 2026 SLV statement of assets and liabilities.
- The trust reports $35,687.527728 million of silver bullion, $32.906608 million of investment-sale receivables and $26.325280 million of capital-share receivables; no cash or interest-bearing securities are separately reported.
- SLV is a silver trust rather than an operating company; the filing reports no operating revenue and no universal prohibited-income numerator.
- Silver is a ribawi asset and scholars differ on qabd, custody and settlement mechanics for exchange-traded trust interests.
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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