Sharia-Compliant Stocks, What is it?

Sharia-compliant stocks are shares of companies that pass specific religious screens: a permissible core activity (not interest-based banks, alcohol, or tobacco, for example), and interest-bearing debt and impermissible-income ratios within set limits. On the EGX, the Sharia-compliant EGX33 index gathers the companies that pass these screens. It is important to know the criteria are precise, not every "reputable" company is compliant, and vice versa. The list is reviewed periodically because a company's ratios change. FoudaLens shows the list of Sharia-compliant stocks and updates it with the official index.