OTOKAR (OTKAR.IS) 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
Consumer Cyclical
Industry
Auto Manufacturers
Result
Pass
Reason
The sector "Consumer Cyclical" and industry "Auto Manufacturers" are not in the excluded categories.
Financial Ratios
Debt Ratio
Value: 82.6% | Threshold: 30% | Result: Fail
Cash & Interest-bearing Securities Ratio
Value: 9.1% | Threshold: 30% | Result: Pass
Non-Permissible Income Ratio
Value: 0.7% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.74%.Based on the company's financial statements, approximately 0.74% of dividend income should be donated to charity for purification. This is derived from identified interest income (0.74% of total income). Some scholars may differ on the exact calculation method.
About OTOKAR
Otokar Otomotiv ve Savunma Sanayi A.S., together with its subsidiaries, manufactures and sells commercial and defense industry vehicles in Turkey. It offers light trucks, wheeled and tracked armored vehicles, and turrets for the defense industry. The company also provides pick-up type vehicles; minibuses, small buses, and regular buses for public transportation; wheeled and tracked armored vehicles; shuttle transportation; tactical wheeled vehicles, and turrets. The company was incorporated in 1963 and is headquartered in Istanbul, Turkey.
Frequently Asked Questions
Is OTOKAR (OTKAR.IS) stock halal to invest in?
According to AAOIFI Shariah screening standards, OTOKAR (OTKAR.IS) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
Does OTOKAR have any interest income?
OTOKAR's interest income ratio is 9.1% of total revenue. AAOIFI standards require this to be below 30%.
What guidelines are used to determine if OTKAR.IS stock is Shariah-compliant?
Based on the company's financial statements, approximately 0.74% of dividend income should be donated to charity for purification. This is derived from identified interest income (0.74% of total income). Some scholars may differ on the exact calculation method.
Uses quarterly data
About OTOKAR
Otokar Otomotiv ve Savunma Sanayi A.S., together with its subsidiaries, manufactures and sells commercial and defense industry vehicles in Turkey. It offers light trucks, wheeled and tracked armored vehicles, and turrets for the defense industry. The company also provides pick-up type vehicles; minibuses, small buses, and regular buses for public transportation; wheeled and tracked armored vehicles; shuttle transportation; tactical wheeled vehicles, and turrets. The company was incorporated in 1963 and is headquartered in Istanbul, Turkey.
TurkeyBISTConsumer Cyclical
Screened using AAOIFI Standard No. 21 on October 20, 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 Jun 26, 2026. We started recording changes on Oct 19, 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, OTOKAR (OTKAR.IS) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
OTOKAR's interest income ratio is 9.1% of total revenue. AAOIFI standards require this to be below 30%.
OTKAR.IS 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.
OTOKAR'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.
You can save OTKAR.IS to your Mizaan portfolio to track its compliance status over time. Mizaan will update the screening whenever new financial data is available, so you always have the latest result.
Dividends from OTOKAR require purification. Approximately 0.74% of dividend income should be donated to charity to cleanse earnings from non-permissible sources such as interest income.
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.
OTKAR.IS 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 OTOKAR stock reviewed for Shariah compliance?
OTOKAR'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 OTOKAR's compliance status?
You can save OTKAR.IS to your Mizaan portfolio to track its compliance status over time. Mizaan will update the screening whenever new financial data is available, so you always have the latest result.
Are dividends from OTOKAR stock considered halal?
Dividends from OTOKAR require purification. Approximately 0.74% of dividend income should be donated to charity to cleanse earnings from non-permissible sources such as interest income.
Do I need to pay Zakat on my OTOKAR 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.
