CDN NATURAL RES (CNQ.TO) - Halal (Shariah-Compliant)
CDN NATURAL RES (CNQ.TO) is classified as Halal (Shariah-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
Sector
Energy
Industry
Oil & Gas E&P
Result
Pass
Reason
The sector "Energy" and industry "Oil & Gas E&P" are not in the excluded categories.
Financial Ratios
Debt Ratio
Value: 18.1% | Threshold: 30% | Result: Pass
Cash & Interest-bearing Securities Ratio
Value: 2.8% | Threshold: 30% | Result: Pass
Non-Permissible Income Ratio
Value: 0.4% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.41%.Based on the company's financial statements, approximately 0.41% of dividend income comes from non-permissible sources; this is the share many investors donate to purify it. This is derived from identified interest income (0.41% of total income). Some scholars may differ on the exact calculation method.
About CDN NATURAL RES
Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
Frequently Asked Questions
Is CDN NATURAL RES (CNQ.TO) stock halal to invest in?
According to AAOIFI Shariah screening standards, CDN NATURAL RES (CNQ.TO) is currently classified as Halal (Shariah-Compliant). This is based on both business activity and financial ratio screening.
Screened November 8, 2026·Annual income statement: year ended 31 Dec 2025·Balance sheet as of 30 Jun 2026
Screening standard
AAOIFI is free. Premium compares the same stock under DJIM, S&P and MSCI.
Under every standard
AAOIFI · CDN NATURAL RESCompliant
DJIM
S&P
MSCI
Each standard is applied by the same screening code with its own published thresholds and denominator. A company can pass one and fail another; that reflects differences between the standards, not an error. Index membership rules such as buffers and grace periods are not applied.
Business Activity
Pass
EnergyOil & Gas E&P
The sector "Energy" and industry "Oil & Gas E&P" are not in the excluded categories.
Business-activity data: inferred from the company description (lower confidence). How coverage works
Denominator: market capitalisation at the balance-sheet date.
Dividend Purification
0.41%
Based on the company's financial statements, approximately 0.41% of dividend income comes from non-permissible sources; this is the share many investors donate to purify it. This is derived from identified interest income (0.41% of total income). Some scholars may differ on the exact calculation method.
Uses quarterly data
About CDN NATURAL RES
Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
CanadaTSXEnergy
Screened using AAOIFI Standard No. 21 on November 8, 2026. Financial ratios compared against market capitalization. Different methodologies may produce different results. Learn how we screen.
Screened using AAOIFI Shariah Standard No. 21 (3 ratios). Debt and interest-bearing deposits must each be under 30% of market capitalization, and non-permissible income under 5% of total income. This screening is for educational purposes only and does not constitute a fatwa or religious ruling. Results are based on publicly available financial data and automated analysis. Users should consult qualified Islamic scholars and financial advisors for personal investment decisions. Financial data may be delayed or incomplete. Past compliance does not guarantee future status.
Verdict history
Free with an account.
No verdict changes recorded since first screened on Nov 8, 2026. We started recording changes on Nov 8, 2026.
Dates are when Mizaan recorded the change. Tracked and watched stocks are re-checked weekly; other stocks are re-screened on demand.
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Frequently Asked Questions
According to AAOIFI Shariah screening standards, CDN NATURAL RES (CNQ.TO) is currently classified as Halal (Shariah-Compliant). This is based on both business activity and financial ratio screening.
Identified interest income is 0.4% of CDN NATURAL RES's total income. AAOIFI standards require non-permissible income to be below 5%.
CNQ.TO is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
CDN NATURAL RES's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.
Watch CNQ.TO free with a Mizaan account. Watched stocks are re-checked weekly, and any verdict change is dated in the verdict history on this page. Premium members also get an alert when it changes.
Approximately 0.41% of dividend income from CDN NATURAL RES comes from non-permissible sources such as interest income. Many investors purify that share by donating it to charity; scholars differ on the details, so check with one you trust.
Yes, Zakat is generally due on stock holdings. The calculation depends on your school of thought (madhab) and whether you hold shares for trading or long-term investment. Use Mizaan's Zakat calculator to compute your obligation based on your specific madhab and holding intent.
Identified interest income is 0.4% of CDN NATURAL RES's total income. AAOIFI standards require non-permissible income to be below 5%.
What guidelines are used to determine if CNQ.TO stock is Shariah-compliant?
CNQ.TO is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
How often is CDN NATURAL RES stock reviewed for Shariah compliance?
CDN NATURAL RES's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.
How can I stay updated on CDN NATURAL RES's compliance status?
Watch CNQ.TO free with a Mizaan account. Watched stocks are re-checked weekly, and any verdict change is dated in the verdict history on this page. Premium members also get an alert when it changes.
Are dividends from CDN NATURAL RES stock considered halal?
Approximately 0.41% of dividend income from CDN NATURAL RES comes from non-permissible sources such as interest income. Many investors purify that share by donating it to charity; scholars differ on the details, so check with one you trust.
Do I need to pay Zakat on my CDN NATURAL RES shares?
Yes, Zakat is generally due on stock holdings. The calculation depends on your school of thought (madhab) and whether you hold shares for trading or long-term investment. Use Mizaan's Zakat calculator to compute your obligation based on your specific madhab and holding intent.
