AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: NVNI
Report Date: 2026-04-02
Full Report: https://amaly.io/stock/NVNI

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: 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 an unknown 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.

Primary Compliance Concerns:
- 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

Purification Requirement: 44.07%
Index Inclusion: Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)

KEY FINANCIAL METRICS
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Debt Ratio: 2.3%
Liquidity Ratio: 0.0%
Interest Income Ratio: 0.0%
Purification Required: 44.07%

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: 2025-09-30

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/NVNI
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.