Salaams,
I’ve just received and email stating moodys Corp is no longer compliant as 7.33% of income is non sharia compliant due to corporate finance and bank loans. This seems a sudden change given previously it had approx 1% non compliant income.
From the information I have looked at, mco only provides data and analytics and software for
the management and ratings of credit. It does not provide direct lending services or loans and it’s income is subscription based. SPGI also provides the same services and is 100% compliant. Is this a miscategorisation error with moodys? If not, then why is spgi fully compliant?
Bismillah
Walaikum assalam wr wb
You could study their latest quarterly or annual report can compare to previous period. It is not just about the work that a company does that has to be permissible but the screening criteria is applied at the financial statements level as well.
And Allah knows best