AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: CIFG
Report Date: 2026-04-09
Full Report: https://amaly.io/stock/CIFG

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: CIFG, operating in the financial guaranty insurance sector, exhibits fundamental Shariah non-compliance due to its conventional business model involving interest-based contracts and elements of uncertainty (gharar). Financial ratios cannot be reliably calculated owing to insufficient public data, rendering quantitative screening inconclusive. Business activity analysis reveals 100% revenue from non-permissible activities, leading to disqualification across all major Shariah authorities and indices. While ESG factors show low risk with no major controversies, the core operations override these positives. Investors are advised to seek Shariah-compliant alternatives in the Takaful space.

Primary Compliance Concerns:
- Core business in conventional financial guaranty insurance (100% non-compliant revenue)
- Insufficient financial data preventing quantitative ratio assessment
- Exclusion from all major Shariah indices due to sector classification

Purification Requirement: N/A - Disqualifying business activity
Index Inclusion: Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)

KEY FINANCIAL METRICS
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Debt Ratio: 0.0%
Liquidity Ratio: 0.0%
Interest Income Ratio: 100.0%
Purification Required: 0.00%

INDEX INCLUSION STATUS
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S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: 2025-11-30

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q4 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-27T00:00:00Z

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Full interactive report: https://amaly.io/stock/CIFG
Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener
Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.