How far down the chain does one look to evaluate if something is compliant?
Is there a ruling on these scenarios?
Scenario A: Company A invests in Infrastructure Assets. The company meets a sharia screen. However, the holdings of Company A include Company B, and D which do not meet the screen due to financial leverage and constitute greater than 5% of the assets of Company A.
Scenario B: Telecom company meets sharia screen, but more than 33% of the traffic over its network for which it derives revenue is not-sharia compliant as it broadcast movies, music, etc…