Is my super halal? Here's what actually exists.
Almost every Australian's default super fails an AAOIFI screen outright. A small number of dedicated providers exist instead. Here's what each actually offers, sourced from their own current disclosures.
Almost every Australian has default super sitting in a fund that invests in conventional banks, interest-bearing bonds and mixed-industry shares. A small number of providers run dedicated Shariah-compliant options instead. Here's what each actually offers, sourced from their own current disclosures, not marketing copy.
Salaam Super
Rebranded from Crescent Wealth to Salaam Wealth. Sits inside the Russell Investments Master Trust, with Total Risk Management Pty Ltd as trustee, so it's APRA-regulated like any mainstream fund, just with a Shariah-screened investment menu underneath.
Hejaz Islamic Super & Pension
Three risk-graded portfolios, explicitly screened against interest-based finance, gambling, weapons, tobacco and non-halal food. As of this listing, Hejaz has paused new sign-ups while it reviews the offering. Existing members keep full access. Trustee and fee details aren't published on the site; request the PDS directly before assuming anything.
Meezan Wealth Islamic Super
Structurally different from the other two: this is a Managed Discretionary Account run on the APRA-regulated Super Simplifier platform, not a standalone Islamic super fund. Screening runs three layers deep: AAOIFI standards, IdealRatings filtering, then ISRA sign-off on the final list.
Before you switch
- Check what insurance you'd lose. Default super usually bundles life and TPD cover. Leaving a large industry fund can mean re-applying for cover elsewhere at a worse rate, or going without.
- Compare total fees, not just the headline number. A dedicated Shariah fund with a smaller member base will usually run higher fees than a mega industry fund's default option. That's the real cost of the screen.
- Confirm the fund is currently accepting new members and ask for the current Product Disclosure Statement and Target Market Determination before doing anything. Offerings change, as Hejaz's current pause shows.
- This isn't an exhaustive list. A handful of mainstream industry funds quietly offer a Shariah-screened option inside their investment menu (not as their default). See our guide on member-direct options before switching funds entirely.
- If you want more control than any of these three offer, a Self-Managed Super Fund lets you build your own screened portfolio directly. See our halal SMSF guide for real cost thresholds before considering it.