BIAF
Quality Rating
This report evaluates the Shariah compliance of bioAffinity Technologies, Inc. (BIAF), a biotechnology company focused on cancer diagnostics. Financial ratios indicate strong performance in debt and non-permissible income metrics, but the interest income ratio fails thresholds across standards. Business activities in medical diagnostics are permissible, with no non-compliant revenue sources identified. Index inclusion research shows no presence in major Shariah indices due to micro-cap status. Overall, the company requires purification for trace non-compliant income and ongoing monitoring for financial stability.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Included in 4 major Shariah indexes
Key Compliance Considerations
- Interest income ratio of 0.80% fails the 5% threshold across AAOIFI, MSCI, and S&P standards
- Historical revenue anomalies (e.g., zero revenue in FY2022 leading to inflated ratios) raise data reliability concerns
- Micro-cap status excludes from Shariah indices despite passing core financial screens
Debt Ratio
19.9%
Liquidity Ratio
6.6%
Interest Income Ratio
0.0%
Purification
0.80%