ShariahSignal

Shariah Signal screens listed companies against widely used Shariah compliance criteria — business activity, debt ratios and interest income — and explains each verdict in plain language so you can make your own informed decision rather than taking a coloured badge on faith.

Screening has two stages. The first looks at what the business actually does: companies whose revenue comes mainly from alcohol, gambling, conventional interest-based finance, adult content, tobacco or pork-related products are excluded outright. The second stage is financial, and it is where most of the disagreement between screening providers comes from. Ratios such as debt to market capitalisation, interest-bearing securities to market capitalisation, and impermissible income as a share of total revenue are compared against the thresholds set by a recognised standard.

Shariah Signal shows those numbers instead of hiding them. For every company you can see the ratio, the threshold it is being measured against, how much headroom is left, and which standard the screen is based on. Two providers can reach different conclusions about the same company simply because one uses a 33 percent debt threshold against market capitalisation and another measures against total assets — when you can see the working, that difference stops being mysterious.

Watchlists let you track the companies you care about and get alerted when a status changes, which happens more often than people expect: a company that takes on debt or lets interest income creep up can move from compliant to non-compliant between reporting periods without any headline.

The purification estimate gives an indicative figure for the portion of your dividend income that may need to be given away, based on the impermissible income share, so you have a starting point for that calculation.

Shariah Signal is an information tool. It is not financial advice and it is not a fatwa — for a binding ruling, take the numbers to a scholar you trust.