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.