RizqX revamps its platform to further encourage halal investments

Halal investment aggregator RizqX has rolled out Version 1.3 of its platform, marking a significant step in its ambition to become a full-fledged halal investment ecosystem. The Singapore-based company aims to make halal investing more accessible to investors in Singapore and across Southeast Asia, while also educating the public about their finances and investments.

Halal investing refers to investments that comply with Shariah, or Islamic law, which model a way of living. Under this type of investment, individuals avoid sectors such as alcohol, gambling, and tobacco. Interest and transactions rooted in uncertainty are also to be avoided, while supporting businesses that contribute positively is also necessary. Employing such a different set of rules, halal investing necessitates considerable screening of assets. These screening efforts are what RizqX aims to simplify.

With its new Version 1.3, users can now perform Shariah screenings on over 27,000 global stocks, determining whether they meet Islamic ethical standards. The platform also introduces features to calculate zakat and purification for each stock. Zakat is an obligatory form of almsgiving, where a portion of wealth is donated to charitable causes annually. Purification refers to the removal of income derived from non-compliant sources (minor interest gains inadvertently earned through investments as an example) to ensure an investor’s portfolio remains religiously clean.

The platform’s latest offering, Purifai (Zakat 2.0), promises to advance how investors manage zakat contributions in a digital context. RizqX is also launching its Investor Profiles, starting with an early adopter membership at S$50 per year which grants full access to current and future premium features.

Beyond compliance tools, RizqX’s update adds a range of new features designed to support financial literacy and community engagement. Users can now access recordings from the Muamalat Essentials series, educational sessions on Islamic finance fundamentals, as well as exclusive discounts to events organised by the Islamic Finance Singapore Group (IFSG) and RizqX itself. Subscribers also receive 30 minutes of time credit each month to consult RizqX on their investment portfolios.

With its expanded educational and screening tools, RizqX aims to make investing more accessible for Muslim communities in Singapore and the wider region. Southeast Asia is home to over 240 million Muslims, accounting for about 42% of its population, making up a significant market that has often been underserved in terms of faith-based investment options. As it continues to roll out future versions and introduce new investment profiles, RizqX’s platform has the potential to bring more inclusivity and confidence to the investing landscape.