Does Western Asset Investment Grade Defined Opportunity Trust Inc. pass AAOIFI screening?

Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (IGI: 0.0%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Western Asset Investment Grade Defined Opportunity Trust Inc. stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) using the latest financial data.

IGI: Is Western Asset Investment Grade Defined Opportunity Trust Inc. Halal?

Western Asset Investment Grade Defined Opportunity Trust Inc.

NYSEFinancial ServicesUS

$15.92

+0.22%

Market Cap: 95.4M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) halal? Not Halal. Based on AAOIFI screening, Western Asset Investment Grade Defined Opportunity Trust Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

99.8% of 5.0% limit

100% of the basket's holdings were screened individually.

About Western Asset Investment Grade Defined Opportunity Trust Inc.

The Western Asset Investment Grade Defined Opportunity Trust Inc. operates as a closed-end mutual fund concentrating on fixed income, initially established and overseen by Legg Mason Partners Fund Advisor, LLC. Its management is shared among several entities, including Western Asset Management Company, Western Asset Management Company Pte. Ltd, Western Asset Management Company Ltd., and Western Asset Management Company Limited. This U.S.-domiciled trust, formed on June 26, 2009, allocates its capital specifically within the fixed income markets of the United States. Its investment objective is to acquire securities from companies spanning a broad range of diversified sectors, with a primary focus on investment-grade corporate debt instruments possessing various maturity dates. All investment decisions are informed by the fund's proprietary in-house research. The trust is scheduled to liquidate on or around December 2, 2024.

Sector: Financial Services · Industry: Asset Management

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (99.8%)

Basket Composition

100% of basket screened

ETFs 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.

100%

Halal0%

Doubtful0%

Not Halal100%

Unknown0%

Top Holdings

GSGOLDMAN SACHS GROUP INC (THE)Not Halal1.52%CMCSACOMCAST CORPNot Halal1.46%SOUTHERN NATURAL GAS COMPANY LLCNot Halal1.09%BRITISH TELECOMMUNICATIONS PLCNot Halal1.03%COPCONOCOPHILLIPSNot Halal0.93%JP MORGAN CHASE & COMPANYNot Halal0.93%BACBANK OF AMERICA CORPNot Halal0.78%BABOEING COMPANY (THE)Not Halal0.75%TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICANot Halal0.69%SCHWCHARLES SCHWAB CORP (THE)Not Halal0.69%

Fiscal: N/AData source: FMP-LOOKTHROUGH

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

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+0.17%

SLVA+

iShares Silver Trust

$57.44

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PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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BAC

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Frequently Asked Questions

Is Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) halal to invest in?

Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Western Asset Investment Grade Defined Opportunity Trust Inc. get a F compliance rating?

Western Asset Investment Grade Defined Opportunity Trust Inc.'s compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change Western Asset Investment Grade Defined Opportunity Trust Inc.'s Shariah verdict?

Western Asset Investment Grade Defined Opportunity Trust Inc.'s verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is Western Asset Investment Grade Defined Opportunity Trust Inc. re-screened for Shariah compliance?

Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Aug 26, 2026.

Screened according to 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. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and 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.