Halal stocks on Tunis Stock Exchange
0 of 67 compliant · not compliant 30 · screening incomplete 37 · read 2026-10-28
Which stocks on Tunis Stock Exchange are Sharia-compliant?
We screened 67 shares on Tunis Stock Exchange: 30 not compliant and 37 are incomplete. No share has completed every screen. The non-compliant income test (5% limit) is not measured for this market because our sources do not disclose the line, so we write «screening incomplete», never «compliant». An automated read of published screens, not a fatwa.
2026-10-28
About this list
How does this list differ from scholars' "pure stocks" lists?
Pure-stock lists are issued by scholars and sharia boards using their own method and judgement. This list is an automated screen of published ratios: business activity, debt and cash against the 12-month average market capitalisation with a 30% limit, and non-compliant income against total revenue with a 5% limit. The two can differ on the same stock; rulings belong to scholars.
Method: what we screened and what we did not
Standard AAOIFI Sharia Standard No. 21, denominator 12-month average market capitalisation: debt under 30% and cash under 30%. Figures from TradingView.
Both ratios use the 12-month average market capitalisation, the period in FTSE IdealRatings Islamic Indices, Shariah screening criteria, rather than a single day's value. A price move changes the result only when a ratio passes the limit by 1 percentage point, or stays on the other side for 5 sessions in a row. New financial statements show in the result as soon as they are published.
The compliance score out of 100 measures how far each ratio sits from its stated limit. It is 100 at zero debt and zero interest-bearing cash, 50 exactly at the limit, below 50 past it, and zero for an excluded activity. The weaker of the two screens sets the score. Letters: A from 85, B from 70, C from 50, D from 25, F below that.
We do not publish a per-share purification amount yet. The non-permissible income share appears on the 5% line when we measure it, and when we do not, we do not guess a figure.
Non-permissible income ratio (5% limit): we measure interest income against total revenue from the same annual income statement, and we never write «compliant» without a measured figure. Measured for 18013 of 25484 shares; the rest read «screening incomplete» because neither of our two sources discloses the line.
And these screens we do not run:
- Receivables ratio: Standard 21 sets no limit for it, so we do not apply a limit from outside the standard
An automated screen on published figures - not a fatwa and not a certificate. The figures change every quarter. If this matters to your decision, consult a recognised sharia board.
read 2026-10-28 01:57