Compliance Status
Not Halal
Screened on Oct 9, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen Minnesota Quality Municipal Income Fund (NMS) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen Minnesota 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 Minnesota Quality Municipal Income Fund (NMS) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 9, 2026. Source: https://halalscreener.app/en/stock/NMS
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.
NMS: Is Nuveen Minnesota Quality Municipal Income Fund Halal?
Nuveen Minnesota Quality Municipal Income Fund
$9.83
Market Cap: 63.0M
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About Nuveen Minnesota Quality Municipal Income Fund
The Nuveen Minnesota Quality Municipal Income Fund (NMS) operates as a closed-end mutual fund, focusing on fixed income assets, initially launched by Nuveen Investments, Inc. Its management responsibilities are jointly handled by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital within the fixed income markets across the United States. A core part of its strategy involves investing in investment-grade municipal bonds that provide exemptions from regular federal and Minnesota personal income taxes. To ensure quality, the fund targets securities with a credit rating of at least Baa/BBB or better, as assessed by S&P, Moody's, or Fitch. This fund, formerly recognized as the Nuveen Minnesota Municipal Income Fund, was established on June 25, 1993, and is domiciled in the United States.
Sector: Financial Services · Industry: Asset Management - Income
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NMS 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.