In 1986, Dr. Mirza approached Nick Kaiser to offer suitable alternatives for Muslims to invest in. The result was the first Amana Fund, the Amana Income Fund. 35 years later, Nick and Dr. Mirza remain committed, together, to continuing to bring these great products to market.

Today, Saturna Capital advises Amana Mutual Funds Trust. Quarterly, the funds are reviewed and approved by Amanie Advisors — a board of scholars and other Muslims. Our disciplined investment process creates cost- and tax-efficient investment vehicles that are a valuable addition to any portfolio.

Halal Funds

Amana Growth Fund

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Amana Growth Fund

Investor Shares: AMAGX
Institutional Shares: AMIGX

Est. 1994

Seeks long-term capital growth by investing in common stocks and principally follows a large-cap investment style.

Amana Developing World Fund

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Amana Developing World Fund

Investor Shares: AMDWX
Institutional Shares: AMIDX

Est. 2009

Seeks long-term capital growth by investing in common stocks of companies with significant exposure to emerging markets.

Amana Income Fund

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Amana Income Fund

Investor Shares: AMANX
Institutional Shares: AMINX

Est. 1986

Seeks current income and preservation of capital by following an equity-income investment strategy.

Amana Participation Fund

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Amana Participation Fund

Investor Shares: AMAPX
Institutional Shares: AMIPX

Est. 2015

Seeks capital preservation and current income by investing primarily in sukuk, Islamic investment certificates.

Our Investment Approach

The Amana Funds are driven by a fundamental commitment to be investors, not speculators. The Funds’ disciplined approach is designed to achieve long-term growth. While our philosophy is rooted in halal investing principles — such as low debt, ethical practices, financial strength, and sustainable growth — these fundamentals resonate with any investor seeking responsible and high-quality investment opportunities.

Benefits of Halal Investing

Our Investment Process

Our investment process is built on rigorous research and advanced technology to ensure that all investments meet our high standards. We utilize a proprietary software which screens, grades, and monitors over 5,000 securities worldwide each month. To ensure they align with our criteria, we conduct a detailed analysis to discover each company’s business sectors, financial practices, and core sources of revenue.

Once selected, securities are monitored to ensure they remain aligned with our investing principles. This approach is key to maintaining the integrity and performance of our funds. To ensure the Funds continue to remain halal, the Amana Funds are reviewed quarterly by Amanie Advisors Sdn Bhd, an independent board of religious advisors.

Halal Investment Criteria

Be an investor, not a speculator. No taking on excessive risk, speculation and debt, including short-selling and options.

No payment or charging of interest. Prohibited industries: alcohol, pornography firearms, tobacco, weapons manufacturing, pork products. No firms with significant debt.

Halal Investment Criteria

 

5000 global stocks
 

 

 
Quantitative

Business Sector

Gambling, Alcohol, Tobacco, Pornography, Weapons, Pork, Fossil Fuel Extraction

Financial Screens

> 5% revenue from haram sources
> 33% total debt to market cap
> 45% accounts receivable to 
total assets

Social Rating
 

 

 
~ 2150 pass Islamic screens / 1,100 pass sustainable screens
 

 

 
Quantitative

Fundamental Attributes

Competitive Position, Growth Markets, Strong Management

Global Sector Analysis Review

Analysis in US & Malaysia

Saturna Stock Qualification

Detailed Fundamental Analysis
Financial Modeling
Management Discussion

Peer ReviewAnalyst Rating 
 

 

 
Recommended List: 325 Securities
 

 

 
Maintenance Research Industry & Company Risk Monitoring

Resources

Halal Money Matters podcast

Join our hosts and an assortment of special guests as they discuss Halal investing, retirement, financial planning, and much, much more.

Listen on Saturna’s website

The Amana Funds limit the securities they purchase to those consistent with Islamic principles. This limits opportunities and may affect performance.

Check out the background of Saturna Brokerage Services, Inc. or any firm or investment professional on FINRA's BrokerCheck