State Street SPDR Dow Jones Ind (DIA) - Not Halal (Non-Compliant)
State Street SPDR Dow Jones Ind (DIA) is classified as Not Halal (Non-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
- ETF
- Industry
- Exchange-Traded Fund
- Result
- Fail
- Reason
- DIA is a conventional ETF with significant exposure to interest-bearing securities, financial institutions, or other non-permissible sectors. Consider Shariah-compliant ETF alternatives.
Financial Ratios
About State Street SPDR Dow Jones Ind
The Trust’s Portfolio consists of substantially all of the component common stocks that comprise the DJIA, which are weighted in accordance with the terms of the Trust Agreement.
Frequently Asked Questions
Is State Street SPDR Dow Jones Ind (DIA) stock halal to invest in?
According to AAOIFI Shariah screening standards, State Street SPDR Dow Jones Ind (DIA) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
Does State Street SPDR Dow Jones Ind have any interest income?
Interest income data for State Street SPDR Dow Jones Ind is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if DIA stock is Shariah-compliant?
DIA 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 State Street SPDR Dow Jones Ind stock reviewed for Shariah compliance?
State Street SPDR Dow Jones Ind'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.