Does Nuveen Virginia Quality Municipal Income Fund pass AAOIFI screening?

Nuveen Virginia Quality Municipal Income Fund (NPV) 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% (NPV: 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 Virginia 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 Virginia Quality Municipal Income Fund (NPV) using the latest financial data.

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

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nuveen Virginia Quality Municipal Income Fund (NPV) 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 NPV's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NPV: Is Nuveen Virginia Quality Municipal Income Fund Halal?

Nuveen Virginia Quality Municipal Income Fund

NYSEFinancial ServicesUS

$10.59

+0.47%

Market Cap: 207.2M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

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

The Nuveen Virginia Quality Municipal Income Fund, established by Nuveen Investments, Inc., operates as a closed-end investment vehicle concentrating on fixed-income securities. Its management responsibilities are jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital to the fixed-income markets within Virginia. A key focus is on acquiring municipal securities that hold an investment-grade rating of Baa/BBB or superior. A significant benefit of these holdings is their ability to generate income that is exempt from both federal and Virginia state income taxation. To construct its portfolio, the fund utilizes a rigorous investment strategy that combines fundamental analysis with a bottom-up security selection process. Its performance is measured against two relevant benchmarks: the S&P National Municipal Bond Index and the S&P Virginia Municipal Bond Index. Initially known as the Nuveen Virginia Premium Income Municipal Fund, this fund commenced operations on January 12, 1993, and is domiciled in the United States.

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

The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Refunding Series 2017ANot Halal3.19%Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017Not Halal2.44%Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior LNot Halal2.38%Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1Not Halal2.38%Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2016ANot Halal2.00%Williamsburg Economic Development Authority, Virginia, Student Housing Revenue Bonds, Provident Group - Williamsburg Properties LLC - William and MaryNot Halal1.97%Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien SeriesNot Halal1.93%Washington Metropolitan Area Transit Authority, Second Lien Dedicated Revenue Bonds, Sustainability- Climate Transition, Series 2024ANot Halal1.70%Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020ANot Halal1.66%Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First Tier Series 2016Not Halal1.61%

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 Virginia Quality Municipal Income Fund (NPV) halal to invest in?

Nuveen Virginia Quality Municipal Income Fund (NPV) 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 Virginia Quality Municipal Income Fund get a F compliance rating?

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

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

Nuveen Virginia Quality Municipal Income Fund (NPV) 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.