Salam u elikum, I have learned that stocks are screened based on two criteria based on AAOIFI and other standards: max 30% riba-based debt and max 5% haram income.
I am trying apps/tools if any of those offers a function to change this percentage to Zero (one or both). I have seen a list from IsalmicFinanceGuru but that is not updated. I could not try all the available apps as most are not free. Does any app/tool offer this service? Jazakallah khair
Salaam and welcome, @Explorer2728! Unfortunately, there’s no great way of doing this today in Zoya but we’re working on making it easier. In the meantime, I would recommend using Finviz to filter for companies with a low debt-to-equity ratio and then checking them manually using Zoya for shariah compliance.
I’ve already applied the filter for you which you can access through this link. Finviz has a ton of other filters as well that you can use to help you narrow down your search.
@saad Thanks for sharing a (possible) way to screen, but I still may not screen against 5% non-compliant income. I saw many people asking this question, but there is no easy solution. I think there is an appetite for such a type of screening function (in apps like Zoya).