AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: FXI
Report Date: 2026-05-13
Full Report: https://amaly.io/stock/FXI

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: The iShares China Large-Cap ETF (FXI) tracks the FTSE China 50 Index, providing exposure to large-cap Chinese companies. Due to underlying holdings in non-compliant sectors such as conventional banking and alcohol production, FXI fails Shariah business activity screening. Financial ratios are inapplicable to ETFs, but constituent analysis reveals high debt and impure income. No inclusion in major Shariah indices confirms non-compliance. Investors may consider purification for dividends, but core exposure remains problematic.

Primary Compliance Concerns:
- Business activity: Significant exposure to riba-based financial services (approx. 40% of holdings)
- Non-permissible sectors: Alcohol production (e.g., Kweichow Moutai, ~5%) and gaming elements
- Index exclusion: Not included in any major Shariah-compliant indices due to underlying non-compliance
- ETF structure: Aggregate holdings fail qualitative and quantitative screens

Purification Requirement: 25.00%
Index Inclusion: Not included in S&P Dow Jones Shariah, MSCI Islamic, FTSE Shariah, or DJIM indices

KEY FINANCIAL METRICS
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Debt Ratio: 0.0%
Liquidity Ratio: 0.0%
Interest Income Ratio: 0.0%
Purification Required: 25.00%

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: 2025-12-31

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: 2026-02-26T12:00:00Z

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Full interactive report: https://amaly.io/stock/FXI
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.