FFAI
Quality Rating
This report evaluates FFAI's Shariah compliance across financial, business, and governance dimensions, revealing significant challenges due to high debt and anomalous interest income ratios, leading to non-compliance under major standards. Despite permissible core activities in its industry, financial screens fail decisively. No inclusion in Shariah indices confirms overall non-compliance status. ESG factors show medium risk with resolved controversies, but financial issues dominate concerns. Investors are advised to avoid or monitor closely pending remediation.
Purification Required
Significant purification required - exercise caution
Index Inclusion
Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)
Key Compliance Considerations
- Debt ratio exceeds thresholds across AAOIFI (41% > 33%), MSCI (41% > 33.33%), and S&P (41% > 33%)
- Interest income ratio of 38288.68% vastly exceeds 5% limit for all standards, indicating severe riba exposure
- Anomalous financial data suggests potential reporting issues or non-compliant financing dominance
Debt Ratio
41.0%
Liquidity Ratio
5.2%
Interest Income Ratio
38288.7%
Purification
38.29%