Al-Ameen Funds (UBL) Al-Ameen Shariah Stock Fund (ASSF)
Islamic Investing in Islamabad
Al-Ameen's flagship Islamic equity fund, with the lowest equity entry in Pakistan (Rs 500 initial and subsequent) and a 2026 Lipper Global Islamic Equity Pakistan award behind it. Costs are full active freight: management fee up to 3%, front-end investment charges up to 2.5%, and a roughly 2.9% offer/sell spread at July 31, 2026 - though no redemption charges apply in years 1-3. Certification comes annually under named advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan. The transparency failure is the fund's own page: at our review it displayed a placeholder NAV dated August 5, 2025 (wrong by roughly 5x against the live ~496 offer price), no fund size, no returns table and no rating - so pull the latest FMR or use the UBL Funds explorer before investing.
ASSF is simultaneously the most accessible and least transparent flagship in Pakistani halal equity. Rs 500 gets anyone in, the scholars behind the certification are credible, and the 2026 Lipper award says the management has delivered. Yet at our review the fund's own webpage misstated its NAV by a factor of five (a year-old placeholder), published no size, no returns and no rating, and the honest all-in cost - up to 3% fee, up to 2.5% entry charges, ~2.9% spread - is heavy. It's a reasonable first equity fund for a small saver starting with a few thousand rupees who buys through the UBL app; anyone investing serious money should pull the latest FMR and compare against Al Meezan's flagship and the no-load index ETFs first.
Pros
- Rs 500 opens the door - a genuine democratization of halal equity investing
- Independent performance validation via the 2026 Lipper Global Islamic Equity Pakistan award
- No redemption charges (years 1-3) softens the exit math
- Named-advisor certification with credentials that stand up to checking: Deloitte Global Islamic Finance consulting and Habib Metropolitan Bank Shariah advisory between them
Cons
- The fund's own page shows a placeholder NAV dated Aug 5, 2025 that is wrong by ~5x - the stale-data problem is at its worst on this fund, where the real offer price is ~496
- No published fund size, no returns table, and no stability/performance rating ('N/A') - accountability requires JS-gated FMR PDFs
- Full active pricing: up to 3% fee plus up to 2.5% front-end charges and a ~2.9% offer/sell spread at purchase
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Product Details
Min Investment
Rs 500 initial / Rs 500 subsequent
Fee
Up to 3% p.a.; front-end charges up to 2.5%; no redemption charges years 1-3 (fund page, Aug 3, 2026)
Al-Ameen Funds (UBL) in Islamabad
Al-Ameen Funds (UBL)'s Al-Ameen Shariah Stock Fund (ASSF) is accessible to investors in Islamabad, structured as Mutual Funds: Islamic funds and certificates in Pakistan are national digital products, so region matters less than fees and governance. Minimum investment: Rs 500 initial / Rs 500 subsequent. Al-Ameen Funds (UBL) operates across Pakistan, so Islamabad residents have full access to this product.
Shariah Compliance & Oversight
Advised by Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan under Al-Ameen's firm-wide framework: business-activity exclusions, financial-ratio screening, ongoing monitoring and annual Shariah certification per fund.
2026-08-05
Why It's Halal
ASSF (formerly UBL Shariah Stock Fund) applies Al-Ameen's Islamic framework to listed Pakistani equities: business screening that excludes conventional finance, alcohol, pork, tobacco, gambling and adult entertainment, plus financial-ratio tests on debt, cash and interest income, with ongoing monitoring and an annual Shariah review certified by named advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan - scholars whose other seats (Deloitte's Global Islamic Finance team, Habib Metropolitan Bank) give the certification real-world weight. The 2026 Lipper Global Islamic award in the Equity Pakistan category (May 12, 2026) is independent evidence that the screened portfolio has been managed competently, not just permissibly. The practical caveats are disclosure-driven: the fund is unrated ('N/A' where siblings carry VIS/PACRA stability ratings), its AUM and fiscal-year returns are absent from its page, and the live offer/selling spread on the UBL explorer (495.93 vs 482.07 at July 31, 2026) implies roughly 2.9% round-trip cost at purchase on top of a fee of up to 3% - real money for a fund you must research through FMR PDFs.
Regional Availability
Al-Ameen Funds (UBL) serves all of Pakistan
✓ Available nationwide including Islamabad
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Compare With Other Options in Islamabad
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Halal Investment Growth Estimate
See how your halal investments could grow over time
Total Value
Rs 343,778
Contributed
Rs 130,000
Growth
Rs 213,778
Hypothetical projection. Past performance does not guarantee future results.
Compare FundsFrequently Asked Questions
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.