Equitymaster.com Review

Based on checking the website, Equitymaster.com presents itself as a comprehensive investment research platform based in India, offering various services and reports aimed at helping individuals navigate the stock market and build wealth.

However, it’s crucial to approach any platform dealing with stock market investments with extreme caution, especially from an ethical standpoint.

The very nature of stock market investing, when not carefully managed, can quickly cross into areas of speculation and even gambling, which are deeply problematic from an ethical perspective.

While Equitymaster.com provides a wealth of information, its emphasis on “multibagger stock ideas,” “momentum profits,” and “hidden treasure” hints at a speculative approach that encourages chasing high returns, which is fundamentally risky and often not aligned with sound, ethical financial principles.

Overall Review Summary:

Purpose: Investment research and advisory for Indian stock markets.
Services Offered: Premium research services, stock screeners, market updates, company info, calculators, and free newsletters.
Ethical Concerns: Promotes speculative trading and investment strategies through terms like “Multibagger Stock Ideas,” “Momentum Profits,” and “Hidden Treasure,” which can lead to excessive risk-taking and potentially resemble gambling in practice. The emphasis on high returns over stable, long-term, ethically sound investments is a significant red flag.
Transparency: Provides SEBI registration details and contact information, including a compliance officer.
User Interface: Appears comprehensive with numerous features, but the sheer volume of “premium services” suggests a heavy push for paid subscriptions.
Islamic Finance Compatibility: Highly questionable due to the speculative nature of many of the promoted investment strategies and the potential for involvement in interest-based financial instruments Riba.

Engaging in the stock market with the intent of rapid, high returns, as often implied by terms like “multibagger” or “momentum trading,” can easily lead one down a path of excessive risk-taking and gambling, where gains are primarily based on chance rather than genuine productive economic activity.

This approach is widely discouraged due to its inherent uncertainty and the potential for significant financial loss.

Instead of chasing speculative gains, it’s always better to focus on real, tangible value creation, honest work, and investments rooted in ethical practices.

Best Alternatives for Ethical Wealth Building Non-Financial Speculation:

Islamic Microfinance Platforms: Platforms focusing on ethical, interest-free micro-lending to support small businesses and entrepreneurs, fostering real economic growth in communities.
Halal Investment Funds: While specific funds aren’t products, research services focusing on funds that adhere strictly to Islamic finance principles avoiding Riba, prohibited industries for ethical investment guidance. Look for Sharia-compliant ETFs or mutual funds.
Ethical Crowdfunding Platforms Non-Riba: Platforms that facilitate investment in startups and businesses based on equity sharing or profit-loss sharing, avoiding interest-based lending. Examples could include platforms focused on sustainable projects or community development.
Real Estate Investment Trusts REITs – Sharia Compliant: While REITs themselves are financial instruments, research into Sharia-compliant REITs if available and verified by scholars focuses on tangible asset ownership and rental income, minimizing speculative elements.
Sustainable Agriculture Investments: Platforms or services that connect individuals to invest in ethical and sustainable farming projects, focusing on tangible production and shared yield.
Educational Resources on Halal Business Practices: Books, courses, or online platforms dedicated to teaching individuals how to establish and grow businesses based on Islamic ethical principles, emphasizing honest trade, transparency, and social responsibility.
Personal Finance & Budgeting Tools: Software or apps that help individuals manage their income, expenses, and savings effectively, promoting financial discipline and responsible spending rather than speculative ventures. Examples include YNAB You Need A Budget or Mint.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Table of Contents

Equitymaster.com Review & First Look

Upon a thorough examination of Equitymaster.com’s homepage, it’s clear that the platform primarily positions itself as a robust resource for Indian stock market research and investment advisory.

Since 1996, the site claims to offer “honest research” to help individuals build wealth.

While the sheer volume of content, tools, and services is impressive at first glance, the underlying emphasis on “multibagger stock ideas,” “momentum profits,” and aggressive wealth accumulation strategies raises significant ethical questions, particularly from an Islamic perspective.

The focus on rapid gains and identifying “hidden treasure” stocks often aligns with speculative investing, which carries inherent risks and can blur the lines into activities resembling gambling.

The site is well-structured, offering various sections such as “Today’s Market,” “Premium Services,” “Research,” “Portfolio,” and “Stock Screener.” It provides real-time market data, company information, sector reports, and a suite of calculators.

While this functionality might seem appealing to conventional investors, for those seeking ethical financial paths, the speculative nature of the advice offered by Equitymaster.com makes it a less than ideal choice.

The presence of numerous paid “Premium Services” further reinforces the commercial aspect, where subscriptions are sold for access to “exclusive” stock recommendations that promise high returns.

What is Equitymaster.com?

Equitymaster.com is an online platform that provides independent equity research and financial analysis primarily focused on the Indian stock markets.

Established in 1996, it offers a range of services from daily market commentary and stock analysis to premium research subscriptions and investment tools.

The company emphasizes its long-standing presence and commitment to “honest research.” Qualityreps.net Review

Initial Impressions of Equitymaster.com

The initial impression of Equitymaster.com is one of comprehensive coverage and deep analytical insight into the Indian equity market.

The site features a professional layout with a wealth of information immediately accessible.

However, the promotional language for its premium services, using terms such as “Epic Wealth Bundle” and highlighting “Exponential Profits,” suggests a focus on aggressive growth strategies that might encourage speculative behavior.

This approach can be problematic for those seeking ethical, value-based investments, as it can inadvertently lead to chasing short-term gains rather than focusing on fundamental, sustainable growth.

Equitymaster.com Features and their implications

Equitymaster.com boasts an extensive array of features designed to cater to various types of investors.

While some features offer valuable data and analytical tools, their application within a speculative investment framework is a concern.

The platform’s offerings, such as its stock screener and market insights, could theoretically be used for ethical, long-term value investing, but the emphasis in the marketing and content leans heavily towards high-growth, high-risk opportunities, which are often at odds with ethical financial principles.

Premium Research Services: The Lure of High Returns

Equitymaster.com offers a multitude of “Premium Research Services,” each with a captivating name designed to attract investors seeking exceptional returns.

These include “Hidden Treasure,” “Forever Stocks,” “Big Wave Profits,” “Microcap Millionaires,” “Momentum Profits,” and “Exponential Profits,” among others.

“Hidden Treasure”: Implies uncovering overlooked gems for massive gains.
“Microcap Millionaires”: Focuses on small-cap stocks with potential for exponential growth.
“Momentum Profits”: Targets stocks showing strong upward price trends.
“Exponential Profits”: Suggests opportunities for extremely rapid and significant returns.

These names and descriptions inherently promote a mindset of chasing quick, large profits, often from volatile segments of the market. This type of investment philosophy, which prioritizes speculative growth over inherent value and stability, can be financially perilous. It encourages a focus on market timing and price movements rather than the underlying health and ethical standing of a business, which aligns with gambling rather than genuine investment. According to a study by the National Bureau of Economic Research, “individual investors tend to lose money by actively trading, performing worse than passively held index funds.” This underscores the risk associated with chasing “momentum” and “hidden treasures.” Cartgoo.com Review

Stock Screener: A Tool for Ethical or Unethical Choices

The Equitymaster.com stock screener is a powerful tool allowing users to filter stocks based on various criteria such as market capitalization, industry, financials, and performance metrics.

While a stock screener itself is neutral, its utility depends entirely on how it’s employed.

If used to identify companies with strong fundamentals, ethical business practices, and long-term viability, it can be a valuable resource for responsible investing.

However, if used to identify “penny stocks” or “top gainers” purely for speculative trading, it becomes an enabler of risky behavior.

The site’s promotion of “Multibagger Penny Stocks in India” and “Fastest Growing Penny Stocks in India” directly points towards encouraging the latter, emphasizing high-risk, high-reward plays that are far from ethical financial practices.

Today’s Market & Company Info: Overviews and Data

The “Today’s Market” section provides daily commentary, real-time updates on Sensex and Nifty, top gainers and losers, and sector-wise performance. The “Company Info” section offers factsheets, company results, and corporate actions. These features are essentially data provision services. While market data is essential for any investor, the context in which Equitymaster presents it—often linked to articles and recommendations pushing for rapid profit—can be misleading. For instance, prominently featuring “Sensex Today Rallies 746 Points | Nifty Above 25,000” without adequate warning about market volatility and the long-term, patient approach required for genuine wealth building, can foster unrealistic expectations. Data from the Securities and Exchange Board of India SEBI often highlights that a significant percentage of individual traders in derivatives suffer losses, reinforcing the idea that focusing on short-term market movements is inherently risky.

Portfolio Tracker & Calculators: Management Tools

Equitymaster.com also offers a portfolio tracker and various calculators SIP, Real Return, Retirement. These are standard financial tools that can aid in managing investments and planning.

A portfolio tracker helps monitor existing holdings, and calculators assist in projecting future values.

These tools are neutral, but their value is diminished if the underlying investment philosophy is flawed.

If a user’s portfolio consists of highly speculative stocks recommended by the platform, tracking losses becomes more frequent than celebrating ethical, sustainable growth. Newyorkstay.com Review

Equitymaster.com Cons

While Equitymaster.com provides a comprehensive array of features, several significant drawbacks and ethical concerns make it an unsuitable platform for those seeking to build wealth responsibly and ethically.

The primary issue revolves around the promotion of speculative investment strategies that often border on gambling, a practice explicitly discouraged in ethical financial principles.

Overemphasis on Speculation and High-Risk Investments

The most glaring ethical concern is the platform’s consistent promotion of high-risk, speculative investment strategies.

Terms like “Multibagger Stock Ideas,” “Momentum Profits,” “Hidden Treasure,” and “Penny Stock” opportunities are plastered across the homepage.

This language encourages investors to chase quick, outsized returns, which is fundamentally at odds with principles of sound, long-term financial planning and ethical investing.

“Multibagger Stock Ideas”: This term suggests stocks that can multiply in value several times over, often implying high risk and low probability for consistent returns.
“Momentum Profits”: Focuses on short-term trading based on price trends, which is highly volatile and akin to gambling.
“Hidden Treasure”: Implies uncovering secret opportunities, often with disproportionately high risk.
“Penny Stock”: These are typically low-priced, highly speculative stocks with limited liquidity and significant risk of loss.

Such strategies are akin to gambling, where the outcome is largely dependent on chance and market whims, rather than diligent research into the fundamental value and ethical standing of a company. According to a study by the National Center for Responsible Gaming, problem gambling is often linked to an inability to control impulses and an excessive focus on monetary gains, similar to what unchecked speculative investing can foster.

Potential for Riba Interest Involvement

While Equitymaster.com provides research and recommendations for stocks, the broader stock market ecosystem often involves interest-based financial instruments Riba. For instance, many companies themselves might operate with substantial interest-bearing debt, or the brokerage accounts used to trade these stocks may offer interest on uninvested cash or margin trading facilities which charge interest.

Equitymaster.com does not explicitly guide users on how to avoid Riba in their investment process or how to screen for truly Sharia-compliant companies that avoid interest in their operations.

This omission means that even if the intent is to invest ethically, users could inadvertently be involved in Riba through the recommended stocks or the methods of trading.

Lack of Explicit Ethical Screening Guidance

The platform does not provide clear, explicit guidance or screening tools for ethical investing beyond conventional financial metrics. Heranke.com Review

There is no mention of filters for environmental, social, and governance ESG criteria, nor for Sharia-compliant investment principles.

This means that subscribers might be recommended stocks of companies involved in industries or practices that are considered unethical, such as those profiting from alcohol, gambling, or interest-based finance.

Without such screening, even well-intentioned investors can find themselves compromising their ethical standards.

Subscription-Based Model for “Exclusive” Content

A significant portion of Equitymaster.com’s valuable content, particularly the “multibagger” and “profit-focused” recommendations, is locked behind paid subscriptions.

While a business model is necessary, framing these subscriptions as gateways to “epic wealth” or “exponential profits” can create a false sense of security and urgency for investors, leading them to pay for advice that promotes high-risk behavior.

This can lead to financial loss for subscribers who are drawn in by the allure of quick riches.

Focus on Indian Market Specifics

While not a “con” in itself, the platform’s primary focus on the Indian stock market might limit its utility for a global audience or those interested in diversifying beyond a single national market.

For investors in the United States or other regions, the direct applicability of Equitymaster’s insights would be limited, requiring additional research into their local markets.

Equitymaster.com Pricing

Equitymaster.com operates on a subscription-based model for most of its in-depth research and premium services.

While specific pricing details are often presented as promotional offers on their homepage, a typical structure involves annual or multi-year subscriptions to access various “premium” advisory services. Rankscanner.com Review

The pricing strategy aims to entice users with bundles that promise significant discounts for subscribing to multiple services.

For example, the homepage often features promotions like the “Epic Wealth Bundle | Save 75%” or “Get 4 Premium Research Services – For the Price of 1.” While exact figures can fluctuate with ongoing promotions, these services can range from a few thousand Indian Rupees INR to tens of thousands per year, depending on the combination of services chosen.

Pricing Structure and Subscription Tiers

Equitymaster’s pricing typically involves:

Individual Service Subscriptions: Users can subscribe to specific premium services like “Hidden Treasure,” “Momentum Profits,” or “Forever Stocks” individually. The cost for a single service can be substantial, often in the range of ₹5,000 to ₹15,000 approximately $60-$180 USD, depending on exchange rates annually.
Bundled Offers: To incentivize broader access, Equitymaster frequently offers “bundles” where multiple premium services are packaged together at a discounted rate. For instance, an “Epic Wealth Bundle” might grant access to 4 foundational research services for the price of one, potentially costing ₹20,000 – ₹50,000+ approximately $240-$600+ USD annually.
Trial Periods: While not explicitly detailed as a direct free trial for all premium services on the homepage, the presence of “Free Newsletters” and “Free Guide” often serves as a lead-in to encourage paid subscriptions.

The price points are positioned to suggest value for expert research, but as discussed, the ethical implications of the type of research being sold are a major concern. Investing in advice that promotes speculative gains rather than ethical, sustainable growth can result in far greater losses than the subscription fee itself. The investment in such services might be deemed as a “loss” if it encourages financially unsound or ethically compromising behavior.

How to Cancel Equitymaster.com Subscription

Canceling an Equitymaster.com subscription typically involves navigating their customer support or account management sections.

Given their emphasis on ongoing services, they generally have a process in place, though it might require direct communication rather than a simple one-click cancellation.

Steps to Cancel

Log in to your account: Access the “MEMBER’S LOGIN” area on Equitymaster.com.
Navigate to Subscription/Account Settings: Look for sections like “My Subscriptions,” “Account Management,” or similar in your user dashboard.
Contact Customer Support: If an online cancellation option isn’t readily available, the most direct method is to contact their customer support. The homepage lists a telephone number +91-22-61434055 and an email address [email protected]. For compliance-related concerns, the Compliance & Grievance Officer’s email [email protected] is also provided.
Clearly State Your Intent: When contacting them, clearly state your desire to cancel your subscription and request confirmation of the cancellation.
Review Terms of Use: It is advisable to review their “Terms of Use” or “Legal Disclaimer” pages for any specific cancellation policies, refund eligibility, or notice periods. This information is typically found in the footer of their website.

Important Note: Given that Equitymaster.com provides financial advisory services, their cancellation policies might have specific clauses regarding refunds for remaining subscription periods or access post-cancellation. Always confirm these details with their customer service to avoid misunderstandings.

How to Cancel Equitymaster.com Free Trial

While Equitymaster.com does not explicitly offer a “free trial” for its premium services in the traditional sense like a 7-day access to all features, they do provide “Free Newsletters” and “Free Guides” which act as lead magnets to attract potential subscribers.

These free resources are designed to give a taste of their content and encourage a paid subscription.

Managing Free Newsletters and Content

If you’ve signed up for their free newsletters like “Profit Hunter,” “The FundStrategist,” or “The Honest Truth”, canceling these typically involves: Thesociohub.com Review

Unsubscribe Link: Look for an “unsubscribe” link at the bottom of any email you receive from Equitymaster.com’s newsletters. Clicking this link usually unsubscribes you from that specific mailing list.
Account Settings if applicable: If you created a basic account to access free guides or content, there might be an option within your profile settings to manage your communication preferences or opt-out of newsletters.
Contact Support: As a last resort, or if the unsubscribe link doesn’t work, you can email their customer support [email protected] requesting to be removed from all mailing lists.

It’s important to remember that these “free trials” or free content offerings are part of a marketing funnel.

While they don’t involve financial commitment, they still expose users to the speculative investment philosophy of Equitymaster.com.

Disengaging from these free resources is a step towards detaching from a mindset that encourages high-risk financial ventures.

Equitymaster.com vs. Ethical Financial Practices

When we compare Equitymaster.com’s offerings with ethical financial practices, particularly those rooted in Islamic finance, significant discrepancies emerge.

The core principles of ethical finance emphasize transparency, fairness, social responsibility, and the avoidance of interest Riba and excessive speculation Gharar and Maysir, which are akin to gambling. Equitymaster.com, while providing vast financial data and analysis, primarily promotes strategies that can conflict with these ethical foundations.

The Conflict with Avoiding Riba Interest

One of the foundational tenets of ethical finance is the prohibition of Riba, or interest.

While Equitymaster.com itself is not a lender or borrower, its recommendations for stock market investments often involve companies that are heavily engaged in interest-based transactions, either through borrowing or lending, or by having significant portions of their revenue derived from interest.

For instance, the banking and financial sectors, which are heavily covered and recommended in general stock market advisories, are inherently built on interest.

Equitymaster.com does not provide a mechanism or advice for screening out companies that fail to meet Sharia compliance standards for Riba.

Therefore, following their advice without independent ethical screening could lead investors into non-compliant holdings. Ryaddyor.com Review

The Problem of Gharar Excessive Uncertainty and Maysir Gambling

Ethical finance strictly prohibits transactions involving excessive uncertainty Gharar and gambling Maysir. Many of the “high-profit” strategies promoted by Equitymaster.com, such as investing in “Multibagger Penny Stocks,” “Momentum Profits,” or engaging in derivatives trading as suggested by “DeriVantage” and “OptionMaster” features, inherently carry a high degree of uncertainty and can resemble gambling.

Penny Stocks: These are characterized by low share prices, small market capitalization, and often a lack of historical data, making them highly speculative. Their extreme volatility means that gains or losses are often more a matter of chance than fundamental analysis.
Momentum Trading: This strategy relies on identifying and profiting from short-term price movements, which is essentially betting on future market direction rather than investing in the productive capacity of a business. It’s often compared to gambling due to its reliance on timing and unpredictable shifts.

The very notion of “beating the market” or finding “hidden treasures” for “exponential profits” fosters a mindset that prioritizes speculative gains, which is a major ethical red flag. The focus should be on real economic activity, value creation, and sharing in legitimate business profits or losses, not on betting on price fluctuations. Studies by institutions like the CFA Institute have shown that active trading, particularly by individual investors, consistently underperforms passive investing over the long term, highlighting the statistical basis for why such speculative strategies are financially risky and ethically questionable.

Lack of Emphasis on Socially Responsible Investing SRI

Beyond avoiding Riba and gambling, ethical investing also encompasses socially responsible investing SRI. This means investing in companies that contribute positively to society, adhere to ethical labor practices, and operate in an environmentally sustainable manner.

Equitymaster.com’s content and screening tools do not overtly emphasize these criteria.

Their recommendations are primarily driven by financial metrics and growth potential, not by a company’s broader societal impact or ethical conduct.

This can lead to investments in companies that might be financially sound but ethically problematic, such as those involved in industries like conventional finance due to Riba, tobacco, or weapons manufacturing, which are typically excluded from ethical investment portfolios.

In conclusion, while Equitymaster.com offers a robust platform for financial analysis and market data, its strong inclination towards speculative, high-return strategies and its lack of explicit ethical screening mechanisms make it incompatible with rigorous ethical financial principles.

For those committed to building wealth responsibly and according to ethical guidelines, it is imperative to look beyond such platforms and seek out resources specifically designed for Sharia-compliant or genuinely socially responsible investing.

FAQ

Equitymaster.com is an Indian financial research and advisory platform established in 1996, offering insights, market analysis, and stock recommendations primarily focused on the Indian stock market.

Is Equitymaster.com a legitimate research platform?

Yes, Equitymaster.com is a legitimate entity and is registered with SEBI Securities and Exchange Board of India as a Research Analyst Registration No. Ledgerweb.com Review

INH000000537, indicating it operates under regulatory oversight in India.

Does Equitymaster.com offer a free trial?

Equitymaster.com doesn’t offer a traditional free trial for its full premium services, but it provides free newsletters and guides that serve as introductory content to attract potential subscribers.

How much does Equitymaster.com cost?

Equitymaster.com’s premium services vary in price, typically ranging from a few thousand to tens of thousands of Indian Rupees INR annually, depending on whether you subscribe to individual services or bundled offers.

What kind of stock recommendations does Equitymaster.com provide?

Equitymaster.com provides recommendations covering various categories, including “Multibagger Stock Ideas,” “Momentum Profits,” “Hidden Treasure” stocks, and “Penny Stock” opportunities, which often imply high-risk, high-reward investment strategies.

Are the investment strategies promoted by Equitymaster.com ethical?

The investment strategies promoted by Equitymaster.com, with their strong emphasis on “multibagger” and “momentum” gains, lean towards speculative investing, which can be ethically problematic as it often borders on gambling and excessive uncertainty.

Does Equitymaster.com provide Sharia-compliant investment advice?

No, Equitymaster.com does not explicitly offer Sharia-compliant investment advice or screening tools to ensure investments avoid interest Riba or unethical industries, which is a significant concern for ethical investors.

Can I cancel my Equitymaster.com subscription easily?

Yes, you can typically cancel your Equitymaster.com subscription by logging into your account or by contacting their customer support via phone or email, as detailed in their website’s contact information.

What are the main ethical concerns with Equitymaster.com’s approach?

The main ethical concerns include the promotion of speculative strategies akin to gambling, the potential for involvement in interest-based financial instruments Riba through recommended companies, and the lack of emphasis on broader socially responsible investing criteria.

What are some alternatives to Equitymaster.com for ethical wealth building?

Better alternatives for ethical wealth building include Islamic microfinance platforms, Sharia-compliant investment funds, ethical crowdfunding platforms non-Riba, and educational resources on halal business practices.

Does Equitymaster.com have a stock screener?

Yes, Equitymaster.com provides a comprehensive stock screener that allows users to filter stocks based on various financial and performance criteria, though its application can be for either ethical or unethical purposes. Tamsoftware.info Review

What is “Multibagger Stock Ideas” on Equitymaster.com?

“Multibagger Stock Ideas” refers to recommendations for stocks that Equitymaster.com predicts have the potential to multiply their value several times over, often implying higher risk and speculative potential.

Is investing based on “Momentum Profits” ethical?

Investing solely based on “Momentum Profits” is generally not considered ethical as it relies on short-term price fluctuations and speculative timing, which can be seen as akin to gambling due to its high uncertainty.

How does Equitymaster.com address investor complaints?

Equitymaster.com provides clear channels for investor complaints, including a dedicated email for their Compliance & Grievance Officer and a link to the SEBI Online Dispute Resolution Portal ODR Portal at smartodr.in.

Is Equitymaster.com suitable for beginners?

While Equitymaster.com provides educational content, its emphasis on complex market dynamics and speculative strategies might not be ideal for beginners seeking a foundational understanding of stable, ethical investment principles.

Does Equitymaster.com offer information on international markets?

Equitymaster.com primarily focuses on the Indian stock market, though it does offer some general information on “International Market Indices.” Its core research and recommendations are geared towards Indian equities.

What is the “Portfolio Tracker” feature on Equitymaster.com?

The “Portfolio Tracker” on Equitymaster.com is a tool that allows users to monitor their existing stock holdings, track their performance, and manage their investment portfolio.

Does Equitymaster.com publish free newsletters?

Yes, Equitymaster.com publishes several free newsletters, such as “Profit Hunter,” “The FundStrategist,” and “The Honest Truth,” which offer market commentary and general investment insights.

What is “Gharar” and “Maysir” in ethical finance, and how do they relate to Equitymaster.com?

“Gharar” refers to excessive uncertainty or ambiguity in a contract, and “Maysir” refers to gambling or speculative activities.

Many of Equitymaster.com’s promoted high-risk investment strategies like penny stocks or momentum trading can fall under these prohibited categories in ethical finance.

Why is Riba a concern for ethical investors using platforms like Equitymaster.com?

Riba interest is prohibited in ethical finance. Clockwize.uk Review

Even if a platform doesn’t directly deal in Riba, the companies it recommends might be heavily involved in interest-based transactions, making the investment problematic from an ethical standpoint without explicit Sharia screening.