Compliance Status
Not Halal
Screened on Oct 9, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is The New Germany Fund, Inc. (GF) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, The New Germany Fund, Inc. has 5% or more of its basket by weight in non-compliant holdings with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates The New Germany Fund, Inc. (GF) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 9, 2026. Source: https://halalscreener.app/en/stock/GF
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
13% of the basket's holdings were screened individually.
GF: Is The New Germany Fund, Inc. Halal?
The New Germany Fund, Inc.
$10.31
Market Cap: 166.9M
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About The New Germany Fund, Inc.
The New Germany Fund Inc. functions as a closed-ended equity investment vehicle, originally established by Deutsche Investment Management Americas Inc. and currently overseen by Deutsche Asset Management International GmbH. Its primary objective is to allocate capital within the public stock markets of Germany, seeking out opportunities in shares of companies operating across a diverse range of industries. The fund predominantly focuses its investments on small and mid-capitalization (SMC) firms. To assess its portfolio's returns, the fund utilizes the Midcap Market Performance Index as its benchmark. This fund was founded on January 16, 1990, and is legally registered in Germany.
Sector: Financial Services · Industry: Asset Management
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why GF is rated Not Halal with institutional-grade analysis
Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Basket-weighted haram holdings exceed 5% (9.3%)
Basket Composition
13% of basket screenedETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.
Top Holdings
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since Sep 2026.
No status changes recorded since we began tracking.
Tracked since Sep 2026. Updates automatically on each re-screen.
Halal Alternatives in Financial Services
This fund is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:
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Frequently Asked Questions
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Screened by holdings look-through under AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.
Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. A fund is evaluated by screening its holdings under AAOIFI financial standards and weighing the result, using publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.