Investment Process
Saturna Capital, the Funds' investment adviser, screens more than 7,200 U.S. traded equities monthly. Roughly 52% are accepted (ranked A by analysts). Marginal issues receive rankings of B, C & D. About one-tenth are rejected outright (ranked F).
Business sector screens eliminate companies involved in:
- interest (banking and insurance)
- alcohol
- gambling
- pork
- pornography
Financial screens eliminate companies with:
- greater than 5% of their revenue coming from haram, or unacceptable, sources (such as those listed above)
- greater than 33% total debt as compared to their market capitalization (trailing 12 month average)
- greater than 45% accounts receivable as compared to their total assets (trailing 12 month average)
These screening guidelines help ensure that investments meet the requirements of the Islamic faith and were established by Saturna Capital in collaboration with the Fiqh Council of North America (FCNA), a non-profit organization serving the Muslim community.

