IVDA
Quality Rating
This report evaluates the Shariah compliance of IVDA, a company in its industry, based on financial ratios, business activities, index inclusions, and multi-perspective analysis. Key concerns include a high liquidity ratio indicating potential riba exposure from excess cash holdings, though debt and income ratios are generally compliant. The company is not included in any major Shariah indices, leading to an overall non-compliant status. Purification is required for the 2.02% interest income. Investors should monitor liquidity deployment and consult scholars for regional variations.
Purification Required
Moderate purification required - consider carefully
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
- Liquidity ratio of 47.82% exceeds thresholds (AAOIFI: 30%, MSCI/SP: 33%)
- Interest income ratio of 2.02% requires purification, though below 5% threshold
Debt Ratio
21.3%
Liquidity Ratio
47.8%
Interest Income Ratio
2.0%
Purification
2.02%