What is Nuveen Arizona Quality Municipal Income Fund's Shariah compliance score?

Nuveen Arizona Quality Municipal Income Fund's (NAZ) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Nuveen Arizona Quality Municipal Income Fund pass AAOIFI screening?

Nuveen Arizona Quality Municipal Income Fund (NAZ) 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% (NAZ: 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 Nuveen Arizona Quality Municipal Income Fund 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 Nuveen Arizona Quality Municipal Income Fund (NAZ) using the latest financial data.

Where can I screen Nuveen Arizona Quality Municipal Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nuveen Arizona Quality Municipal Income Fund (NAZ) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about NAZ's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NAZ: Is Nuveen Arizona Quality Municipal Income Fund Halal?

Nuveen Arizona Quality Municipal Income Fund

NYSEFinancial ServicesUS

$12.21

-1.15%

Market Cap: 156.4M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nuveen Arizona Quality Municipal Income Fund (NAZ) halal? Not Halal. Based on AAOIFI screening, Nuveen Arizona Quality Municipal Income Fund 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.

100.0% of 5.0% limit

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

About Nuveen Arizona Quality Municipal Income Fund

The Nuveen Arizona Quality Municipal Income Fund operates as a closed-end mutual fund, specializing in fixed-income investments, initially established by Nuveen Investments, Inc. Management oversight for the fund is provided by Nuveen Asset Management, LLC. Its primary objective is to allocate capital within Arizona's fixed-income markets. The portfolio is strategically constructed from municipal securities and other comparable instruments, specifically those offering income exempt from both regular federal and Arizona state income taxes. These investments must also maintain a minimum credit rating of Baa or BBB and target an approximate average maturity of 18.66 years. To curate its holdings, the fund employs a blend of fundamental analysis and a bottom-up selection process. Performance is measured against industry benchmarks, including the Standard & Poor's (S&P) Arizona Municipal Bond Index and the S&P National Municipal Bond Index. Previously, it operated under the name Nuveen Arizona Premium Income Municipal Fund. This U.S.-domiciled fund was officially formed on November 19, 1992.

Sector: Financial Services · Industry: Asset Management - Income

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% (100.0%)

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

Arizona Industrial Development Authority, Hospital Revenue Bonds, Phoenix Children's Hospital, Series 2020ANot Halal1.87%Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2023ANot Halal1.78%Yavapai County Jail District, Arizona, Pleged Revenue Obligation Bonds, Series 2020Not Halal1.70%Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2024ANot Halal1.62%Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007Not Halal1.58%Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Mayo/Brooks Rehabilitation Facility Project, Series 2024ANot Halal1.37%Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007Not Halal1.36%Queen Creek, Arizona, Certificates of Participation, Series 2026Not Halal1.35%Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2024ANot Halal1.35%Yuma, Arizona, Utilities System Revenue Bonds, Series 2021Not Halal1.30%

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:

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Frequently Asked Questions

Is Nuveen Arizona Quality Municipal Income Fund (NAZ) halal to invest in?

Nuveen Arizona Quality Municipal Income Fund (NAZ) 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 Nuveen Arizona Quality Municipal Income Fund get a F compliance rating?

Nuveen Arizona Quality Municipal Income Fund'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 Nuveen Arizona Quality Municipal Income Fund's Shariah verdict?

Nuveen Arizona Quality Municipal Income Fund'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 Nuveen Arizona Quality Municipal Income Fund re-screened for Shariah compliance?

Nuveen Arizona Quality Municipal Income Fund (NAZ) 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.