Are GICs and Bonds Halal? What Can I Use Instead?

Conventional GICs and bonds pay interest, so mainstream scholars consider them impermissible. Sukuk are the Shariah compliant alternative.

Sukuk are certificates that give you a share of the profit or rent from real assets instead of interest on a loan. They play a similar role in a portfolio: steadier income and less ups and downs than stocks. For the safe, short term part of your money, Shariah compliant options exist that don't rely on interest. The right mix depends on when you need the money.

Want to know if your own accounts pass? Book your complimentary review with me.