Assalamu alaikum. Passing the screen is not the end of the job. The funds we have been reading admit that themselves. SP Funds runs a public “Purification Calculator” page. In their words, it “helps you determine the amount of investment income derived from non-permissible sources that should be donated to charity.” Same issuer, same SPUS whose prospectus we read the last three posts. What the page says, as of today, 11 Sep 2026: • The factors “are specifically meant to cover the dividend income paid by equity securities that may be derived from haram sources.” Dividends. That is what this page covers. • Q1 2026 factor for SPUS: 1.81% of the dividend. Q4 2025 was 1.97%. The page lists SPRE, SPTE and SPWO with their own factors. It says SPSK “does not require purification because Sukuk are Sharia-compliant by definition.” • Numbers land “approximately 2.5 months after quarter closing,” because they wait for the underlying companies to report. • They state the method is “developed by ShariaPortfolio in accordance with” AAOIFI guidelines. That is their claim about their method. We have not opened the AAOIFI standard ourselves, so I will not quote it for them. • “Purification is distinct from zakat.” Two different jobs. Do not net one against the other. • “ShariaPortfolio does not pay or deduct the purification amounts from your account(s).” Nobody does this for you. You do it. Worked example, using their factor: You received $500 in SPUS dividends in Q1 2026. $500 × 1.81% = $9.05. That $9.05 goes to charity, not to you. The page says to give it; it does not pick the charity. Three practical lines: 1. Every quarter, open the issuer’s page, write the factor and the date next to your dividend statement. Do not carry last year’s factor forward. It moved from 1.97% to 1.81% in one quarter. 2. Use the fund’s own number. SPUS’s factor is not HLAL’s factor. Another issuer publishes its own, or does not. If it does not, that is a real hole, and you ask that issuer, not a blog.

For three years I watched someone jump from one money-making idea to the next. Every switch reset him to zero. The people quietly winning weren't smarter. They picked one system and let time do the work. Investing rewards the same behavior, and it rewards it twice. Early, consistent money keeps buying into the same plan while others are still shopping around. That is your version of a locked-in rate: nobody who starts later can buy your early years back. But time only compounds a clear plan. Before you buy anything, write yourself a one-line brief: what you own, why, and what would make you sell. Vague instructions produce vague results, whether you are directing a tool or directing your own capital. Precise input, patient holding, no restarts. What is the one system you keep abandoning right before it would have paid off?

Assalamu alaikum. Screening is two layers. Last post was the financial ratios. This one is the business screen — still from one PDF, not from memory. SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS), statutory prospectus dated 30 March 2026: A company that receives more than 5% of total revenue from Shariah-prohibited activities is removed from eligibility for the S&P 500 Shariah Index (the index SPUS’s own index is built from). The same prospectus lists those activities as including: • Advertising of non-Islamic activities • Certain media and entertainment (music, movies, TV, musical radio, cinema operators) • Alcohol production or sale • Cloning • Conventional finance (except Islamic banks, Islamic financial institutions, Islamic insurance companies) • Casino management and gambling • Pork-related production and processing • Pornography • Tobacco manufacturing or sale • Trading gold and silver as cash on a deferred basis That list is this fund’s. Another ETF can be shorter or longer. Use theirs. Two practical traps: 1. “Banks are out” is incomplete. Conventional finance is on the list, but the prospectus carves out Islamic banks / Islamic financial institutions / Islamic insurance. If you screen with a homemade “no finance tickers” rule, you are not using this document. 2. The 5% is of total revenue from those activities, as this PDF states it. Do not turn it into “5% of profit” or “5% of the stock price” because a thread said so. Ratings Intelligence Partners is named in the prospectus as the firm that supplies those Shariah screens for the S&P 500 Shariah Index, with a board of five scholars for that index. That is who the document names. It is not a blank cheque for every app that prints a halal badge. Not a buy or sell. Literacy. If the next fund’s PDF does not print a 5% line or this list, we do not borrow SPUS’s. Source: SP Funds prospectus, 30 Mar 2026. https://www.sp-funds.com/wp-content/uploads/spfunds-PRO_2026-06-05.pdf

Assalamu alaikum. Two people can both say “debt must stay under 33%” and still be running different tests. One is measuring interest-bearing debt against the company’s total assets (balance sheet). The other is measuring the same debt against market capitalisation (share price × shares). Those are not the same ratio. A name can fail one and pass the other. Mixing them and calling the mix “Shariah screening” is how a lot of Twitter fights start. We opened one document so this is not a vibe: the SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) prospectus dated 30 March 2026. After the business screen, it only treats a company as compliant for that index if: • debt < 33.333% of total assets • cash and interest-bearing items < 33.333% of total assets • accounts receivable + cash < 50% of total assets • total interest and non-compliant activities income < 5% of total revenue The denominator in that PDF is total assets. Not market cap. What to do with that: 1. When an app or a brother says “33%,” ask: 33% of what? 2. Open that fund’s own prospectus. Search “total assets” and “market.” 3. If the PDF is silent, you do not fill the silence with a blog’s “AAOIFI 30% of market cap.” We have not extracted AAOIFI Shariah Standard 21 ourselves. Until we do, we cite the file we actually opened. 4. Do not copy SPUS’s numbers onto HLAL or any other ticker. Repeat the interrogation on that fund’s PDF. This is not a buy or sell. It is literacy. Source: SP Funds prospectus, 30 Mar 2026 (PDF also includes a 5 Jun 2026 supplement about portfolio managers). https://www.sp-funds.com/wp-content/uploads/spfunds-PRO_2026-06-05.pdf