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    • Certified
    Shariah-compliant Status

    Our Shariah board members continuously monitor our operations, systems, and technologies to ensure that we adhere completely to Shariah standards.

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    Our Methodology

    At Musaffa, our intense qualitative and quantitative screening process follows AAOIFI* methodology. By using this approach, we produce unified, accurate, and detailed reports on company stocks on a global scale.

    Prohibited Business Activities

    Gambling

    Gambling

    Alcohol

    Alcohol

    Related Products

    Related Products

    Tobacco

    Tobacco

    Marijuana

    Marijuana

    Entertainment

    Entertainment

    Cloning

    Cloning

    Firearms And Defence

    Firearms
    And Defence

    Institutions That Deal With Interest

    Institutions That
    Deal With Interest

    Excess Debt

    Excess Debt

    AAOIFI Stock Screening Methodology

    Revenue Ratio

    IMPERMISSIBLE REVENUE

    TOTAL REVENUE

    < 5%

    Interest Ratio

    INTEREST-BEARING SECURITIES AND ASSETS

    TRAILING 36-MONTH AVERAGE MARKET CAPITALIZATION

    < 30%

    Debt Ratio

    INTEREST-BEARING DEBT

    TRAILING 36-MONTH AVERAGE MARKET CAPITALIZATION

    < 30%

    Our Processes at Musaffa

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    Our exceptional financial analysts produce an accurate and comprehensive report on each publicly traded company by analyzing all publicly available information, including annual and quarterly reports, company websites, company presentations, press releases, and much more.

    We offer three Shariah-compliance statuses for the stocks we cover: Halal, Not Halal, and Doubtful. The stocks we have not yet analyzed will be under “Not Covered” status.

    Once we determine that the stocks are Shariah-compliant, we divide the Shariah-compliant stock universe into nine groups: A+, A, A-, B+, B, B-, C+, C and C-. The higher the rating, the more Shariah-compliant the stock is. For example, suppose a particular stock receives a rating of A+. In that case, that stock belongs to the most Shariah-compliant stocks group.

    We survey annual and quarterly reports, company presentations, press releases, and more to provide you with the most accurate and up-to-date information on your stocks. We also make informed adjustments based on the footnotes revealed on reports to give you a clear picture of a company’s financial standings.