Shares of companies deemed permissible under Sharia screens covering activity, debt ratios and income sources.
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.