Shariah overlay
A compliant book, not a filtered one.
The Shariah overlay is a first-class allocation model with its own instruments and its own regime responses — not the standard model with the forbidden holdings removed.
Built as its own model
Most "compliant" products are a conventional allocation with interest-bearing instruments screened out. The result is a portfolio with a hole in it: the defensive sleeve that conventional models lean on is precisely the sleeve that is not permitted.
GXPOL's overlay replaces that sleeve rather than removing it. Sukuk provides defensive exposure without conventional interest; gold carries the haven role; screened equity is selected on the same regime logic as the standard book. In tightening-liquidity regimes, the compliant book carries structurally less rate risk than the conventional equivalent — a difference in behaviour, not merely in eligibility.
No interest-bearing instruments are held in any regime state. The constraint is architectural, not a post-hoc screen.
Sukuk
Defensive allocation without conventional interest exposure.
Gold
Haven allocation, permitted and regime-responsive.
Screened equity
Same regime conditioning as the standard book, compliant universe.
Commodity
Physical-economy exposure where the regime supports it.
Allocation weights shift with the regime and are recorded with the inputs that caused each shift, in the same decision record as the standard book.
Governance
Compliance is a matter of evidence, not assertion. Clients receive the instrument universe, the screening basis, and the full allocation record — the same auditable trail that underlies every other GXPOL output — so that a compliance function can verify rather than trust.
We do not claim scholarly certification we do not hold. Where a client requires formal certification, we work with their own Shariah board and supply the documentation they need.