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Working for a startup company that joins a SPAC and it becomes non-halal company

I worked for an automotive startup, then left with some stock options. The company joined a SPAC and got listed on the stock market. Zoya app. is listing it as Non-compliant, what should I do once I am able to sell the shares (there is time restriction on selling the shares).

Are you able to share the ticker so we can take a closer look? Generally speaking, it can take a while for SPAC mergers to be reflected in Zoya so it’s shariah compliance status may not be reflective of the company’s post-merger financials.

ASAK Saad,

The company is FFIE (Faraday Future).

Thanks you!

ASAK @saad,

The company that I worked for is FFIE (Faraday Future), and Zoya App is listing it as Non-compliant.

Thank you!

I know this super late but we featured your question in one of our Ask Zoya videos with Sheikh @Joe. One thing to note—what we didn’t cover in the video is how to treat companies that are pre-revenue and only show non-operating interest income on the books (such as Faraday Future). We’ll be releasing some follow-up content on this topic but I hope this is helpful in the meantime.