Sharia compliance you can see.
Every asset you can trade on Snipefinity passes a transparent AAOIFI Standard 21 screen — financial ratios plus a business-activity review. Here's exactly how it works, and, honestly, where the limits are.
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1 · Business activity
Companies whose core business is impermissible are excluded outright:
- Conventional finance — Banks, insurers, brokerages, consumer lenders — anything built on interest (riba).
- Alcohol — Brewers, distillers, wineries.
- Tobacco — Producers and distributors.
- Gambling — Casinos, gaming, betting.
- Weapons & defense — Aerospace & defense manufacturers.
- Other impermissible activity — Adult content, pork, and similar.
2 · Financial ratios
Even a permissible business must keep its balance sheet within AAOIFI Standard 21 limits, measured against its market capitalization:
- Interest-bearing debt< 30%
- Cash + interest-bearing securities< 30%
- Accounts receivable< 49%
- Income from impermissible sources< 5%
Straight talk
How complete is this?
Screening is only as good as the data behind it. The financial ratios and excluded sectors are well covered. The hardest part is the business-income breakdown — exactly how much of a company's revenue comes from impermissible activities — because companies don't disclose it uniformly. Where that detail is missing, we screen conservatively and exclude the name rather than guess. We're actively expanding our data sources to tighten this, and working toward independent Sharia-board review.
So treat this as rigorous, transparent screening — not a fatwa, and not a substitute for your own judgment. For a definitive ruling on any holding, consult a qualified scholar.
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