Is LGHL halal?
Lion Group Holding Ltd.
Not halal
Lion Group Holding Ltd. did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
2.75
Day
-8.33%
Market cap
$140739
Industry
Capital Markets
Sector
Financial Services
What the company does
Lion Group Holding (Hong Kong) is an online broker offering CFDs, futures and stock trading plus insurance brokerage; it has also announced a crypto-treasury direction. Revenue from trading commissions is tiny.
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 $18.14M ÷ current market cap $141K = 12888.6%
12888.6%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $23.95M ÷ current market cap $141K = 17020.8%
17020.8%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $173K ÷ annual revenue $833K (2025) = 20.8%
20.8%
Fail
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 46.2% 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
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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.
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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.