Is KLAR halal?
Klarna Group plc
Not halal
Klarna Group plc did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NYSE
Price
13.02
Day
-3.63%
Market cap
$5.26B
Industry
Credit Services
Sector
Financial Services
What the company does
Klarna (Sweden) is a buy-now-pay-later provider letting shoppers split online purchases into installments, plus a card and bank account. Revenue comes from merchant fees and interest; IPO in 2025.
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
Prohibited activity: Credit Services
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $1.36B ÷ current market cap $5.26B = 25.9%
25.9%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $6.13B ÷ current market cap $5.26B = 116.6%
116.6%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $144.00M ÷ annual revenue $2.81B (2024) = 5.1%
5.1%
Fail
Figures from the company's filings (2026-03-31), 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 79.3% of total assets (2026-03-31). 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
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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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.