Compliance Status
Not Halal
Screened on Oct 7, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen Arizona Quality Municipal Income Fund (NAZ) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen Arizona Quality Municipal Income Fund 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 Nuveen Arizona Quality Municipal Income Fund (NAZ) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 7, 2026. Source: https://halalscreener.app/en/stock/NAZ
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
100% of the basket's holdings were screened individually.
NAZ: Is Nuveen Arizona Quality Municipal Income Fund Halal?
Nuveen Arizona Quality Municipal Income Fund
$10.66
Market Cap: 136.6M
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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
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NAZ 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% (100.0%)
Basket Composition
100% 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.
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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.