Every score, explained. Nothing invented.
This page is the full methodology behind every Shariah compliance score on Namaa AI — the 4-layer engine, the AAOIFI-modelled thresholds, what happens when sources disagree, and the purification math. If a number isn't available for a stock, we say so — we never guess.
Four independent checks, one conservative verdict.
Every stock in the Namaa universe is checked by up to four independent layers. The most restrictive result always wins — never the most convenient one.
1Zoya (AAOIFI primary)
The primary data source: AAOIFI-modelled business-activity and financial-ratio screening across 40,000+ global stocks, refreshed daily.
2AMFI Shariah Fund Holdings
Cross-checks whether the stock is currently held by any of India's SEBI-registered Shariah/ethical mutual funds. Absence from these holdings is not treated as non-compliance — many genuinely compliant stocks are simply too small for these funds to hold.
3NSE Fund Holdings / Secondary Filter
Namaa's own secondary filter, run directly against the six AAOIFI-style rules below using NSE-listed company fundamentals. This layer always runs, even if Zoya or AMFI data is unavailable.
4ORIS AI (edge-case review)
For IPOs, borderline ratios, or cases where Layer 1 returns "unknown" or "doubtful," ORIS AI performs a focused re-verification using the same published fundamentals — it never overrides a clear NON_COMPLIANT verdict from another layer.
The six rules every stock must pass.
Modelled on AAOIFI Shariah Standard No. 21. A stock fails the screen the moment any one of these is breached.
| Rule | Threshold | What it checks |
|---|---|---|
| Primary business activity | Zero tolerance | No conventional banking, insurance, alcohol, tobacco, gambling, pork, weapons, or adult-content revenue. |
| Interest-bearing debt / market cap | < 33% | Total interest-bearing debt as a fraction of average market capitalisation. |
| Accounts receivable / total assets | < 49% | Cash and receivables shouldn't dominate the balance sheet. |
| Non-permissible income / revenue | < 5% | Interest income and other non-permissible revenue as a fraction of total revenue — this is also the figure used for purification. |
| Promoter pledge | < 20% | Shareholding pledged as loan collateral by promoters. |
Most conservative result always wins.
If any two layers disagree, Namaa resolves to the most restrictive status: NON_COMPLIANT overrides everything, then DOUBTFUL, then UNKNOWN (treated the same as doubtful for trading purposes), and only when every layer agrees does a stock resolve to COMPLIANT. A conflict between layers is recorded and shown on the stock's scorecard — it is never hidden.
How much of your dividend to give away.
Even a compliant stock can carry a small sliver of non-permissible income (e.g. bank interest on idle cash). That sliver of any dividend received should be purified — donated to charity, not kept.
Suppose a stock's non-permissible income is 2.1% of total revenue (well under the 5% ceiling — it still passes the screen).
Purification per ₹1,000 dividend = 2.1% × ₹1,000 = ₹21
So if you received ₹1,000 in dividends from that stock this year, approximately ₹21 should be donated to purify the income. Namaa computes this figure per-holding on your Zakat & Purification page whenever the underlying non-permissible-income percentage is available — and marks it "data unavailable" rather than guessing when it isn't.
What we will never do.
- A line item we can't verify is always labelled "data unavailable" — never estimated or invented.
- Paper (practice) trading results are always labelled "practice results" — never presented as real returns.
- No compounding projections are shown anywhere on the platform.
- Backtests always show out-of-sample figures alongside in-sample — never in-sample alone.
- The words "guaranteed," "assured," and "no-loss" are banned across every template and every piece of marketing copy.
- A custom universe filter (liquidity, price, market cap) can only ever narrow the Shariah-compliant universe further — it can never widen it or bypass the Shariah screen, even when the underlying data is missing.
See it applied to your own portfolio.
Run the free checker on your existing holdings, or create an account to screen the full NSE universe automatically.