AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: IXHL
Report Date: 2026-06-08
Full Report: https://amaly.io/stock/IXHL

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: BB
Description: This report evaluates the Shariah compliance of Incannex Healthcare Inc. (IXHL), a clinical-stage biopharmaceutical company developing cannabinoid-based therapeutics for unmet medical needs. While financial ratios demonstrate strong quantitative compliance across AAOIFI, MSCI, and S&P standards, the core business involving cannabis-derived products raises significant qualitative concerns under Shariah principles prohibiting intoxicants. Index inclusion research confirms exclusion from all major Shariah indices due to business activity screening failures. Regional perspectives vary, with Malaysian standards viewing it as compliant for medical applications, while GCC authorities deem it non-compliant. Overall, the company is classified as non-compliant, requiring careful investor consideration and potential purification.

Primary Compliance Concerns:
- Core business in cannabis-derived therapeutics classified as intoxicant-related, failing qualitative business activity screens
- Exclusion from all major Shariah indices despite passing financial thresholds
- Divergent regional views, with strict prohibitions in GCC standards

Purification Requirement: 26.86%
Index Inclusion: Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)

KEY FINANCIAL METRICS
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Debt Ratio: 0.0%
Liquidity Ratio: 9.0%
Interest Income Ratio: 0.0%
Purification Required: 26.86%

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: 2025-12-01

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q1 2026
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-25T12:00:00Z

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