IslamicStock - Screener India

The IslamicStock app is designed to help users find halal stocks listed in the Indian stock markets, specifically the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This app is a valuable resource for those looking to invest in the stock market while adhering to Shariah principles. It follows six key criteria set by renowned scholars to determine if a company's shares are sharia-compliant for investment.

The first criterion is the nature of the business. The app ensures that the companies listed are not involved in any activities that are considered haram (forbidden) in Islam. This includes businesses related to alcohol, gambling, and other prohibited industries.

The second criterion is the source of income. The app screens for companies that generate income from non-sharia compliant investments, such as interest-based activities.

The third criterion is the ratio of interest-bearing debt to total assets. The app ensures that the companies listed have a low ratio of interest-bearing debt to total assets, as interest is considered haram in Islam.

The fourth criterion is the ratio of illiquid assets to total assets. The app screens for companies that have a low ratio of illiquid assets, as these are considered risky investments in Islam.

The fifth criterion is the net liquid assets versus market capitalization. The app ensures that the companies listed have a high ratio of net liquid assets to market capitalization, as this indicates a strong financial position.

The sixth and final criterion is the ratio of non-compliant investments to total assets. The app screens for companies that have a low ratio of non-compliant investments, as these are considered haram in Islam.

The IslamicStock app also offers a unique feature called "Taqwa," which allows users to customize their screening criteria according to their level of adherence to Shariah principles. This feature offers flexibility and caters to the individual preferences of users.

In addition to its screening capabilities, the app also offers a user-friendly interface, the ability to create watchlists and portfolios, real-time alerts, and a cloud storage option. It also has an academy section to educate users about the stock market and Shariah principles of investing. Overall, the IslamicStock app is a valuable tool for Muslim investors looking to make sharia-compliant investments in the Indian stock market.