Assalaamu Alaykum I’m new to the Zoya platform.
One of the standards that Zoya uses ie: buying shares in a company whose revenue from haram sources must be under 5% is deemed permissible. Is there any evidence from Quran and Sunnah upon which this standard is based? Also does Zoya show stocks that are 100% halal ie: no debt interest and now haram revenue?
Jazaakumullahu khayrā
Zoya uses the AAOIFI screening standard. It is important to remember that Zoya is applying a filter defined by AAOIFI, so your question is likely better addressed to AAOIFI.
As to the % numbers used for haram income, debt etc… these are not in Quran or Hadith, rather they are derived from Hadith typically. The key here is derived, meaning 1/3 is used in a verse about inheritance and a group of Sharia Scholars concluded that 1/3 is a number appropriate for allowable debt (it is perplexing as I do not see how the two equate but this is what has been determined).
Hope this helps.
So are there companies on Zoya who are totally halal without even 1/3 ? Or it is impossible? Or Zoya does not distinguish between the two opinions “the one who permits 1/3 and the other who does not allow any haram proportion”?
I dont think there is an option to look up companies that are 100% compliant. ie. no % of revenue is from non compliant sources