This report evaluates IPST's Shariah compliance across financial, business, and governance dimensions. While debt and liquidity ratios meet thresholds, the exceptionally high interest income ratio of 186.12% results in non-compliance under standard screens. No non-permissible business activities are identified, but income purity issues dominate. Index exclusion reinforces non-compliant status. Investors should consider purification and consult scholars for fintech-specific rulings.