NVNI
Quality Rating
The Shariah compliance analysis for NVNI reveals significant challenges in meeting key financial screening criteria, primarily due to elevated debt and interest income ratios that exceed established thresholds across major standards. While non-permissible business income is estimated at 0%, the overall financial structure raises concerns regarding riba exposure. Business activities in its industry show no clear non-compliant elements, but insufficient data limits definitive assessment. Index inclusion research confirms exclusion from all major Shariah indices, leading to a non-compliant classification. Investors are advised to monitor financial improvements and consult scholars for purification guidance.
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: 226.49% exceeds all thresholds (AAOIFI 30%, MSCI 33.33%, S&P 33%)
- Liquidity ratio: 38.24% exceeds thresholds
- Interest income ratio: 44.07% exceeds 5% threshold across standards
Debt Ratio
2.3%
Liquidity Ratio
0.0%
Interest Income Ratio
0.0%
Purification
44.07%