Halal screening
Two balance-sheet ratios against market capitalisation and a test on the line of business, run across every listed US company over a billion dollars. Screened on AAOIFI’s limits, which are the strictest of the five published sets — a company clearing them clears the other four on these ratios as well.
Five screens over the same compliance universe. The first three rules are the compliance test and never change; each screen adds its own on top, so the funnel under the table reads “this many were compliant, then this many of those were also cheap”.
Halal Screener
ComplianceEvery listed US company over a billion dollars that clears the two AAOIFI balance-sheet ratios and is not in an excluded line of business.
- Interest-bearing debt under 30% of market cap
- Cash and short-term investments under 30% of market cap
- Business activity not excluded
Screened on AAOIFI’s limits, the strictest of the five published sets, so a company here clears the other four on these two ratios as well. This is a mechanical screen and not a ruling: the non-compliant-income test, the receivables test and the averaged market-capitalisation basis the providers use are all absent, and any of the three could exclude a company that passes here. Verify against the provider before relying on it.
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