Is BGL halal?
Blue Gold Limited
Not halal
Blue Gold Limited did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
0.1360
Day
+1.57%
Market cap
$7.4M
Industry
Gold
Sector
Basic Materials
What the company does
Blue Gold acquires, develops and operates gold mines in Ghana (Ashanti region, Bogoso-Prestea); listed via SPAC in 2025. Its money is expected from gold sales, but production has not started.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $3.47M ÷ current market cap $7.36M = 47.1%
47.1%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $679K ÷ current market cap $7.36M = 9.2%
9.2%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2025-12-31), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 1.8% of total assets (2025-12-31). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Gold — for comparison.
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Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.