Is NDAQ halal?
Nasdaq, Inc.
Not halal
Nasdaq, Inc. did not pass AAOIFI screening. The failed check is shown below.
Exchange
NASDAQ
Price
93.97
Day
+0.50%
Market cap
—
Industry
—
Sector
—
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Conventional exchange (Nasdaq — riba/derivatives trading)
What the company does
Nasdaq runs the Nasdaq stock exchange and Nordic exchanges, listing fees, index licensing (Nasdaq-100), and fintech/regulatory software (Verafin, Calypso — for banks). Its money comes from trading/listing fees and software subscriptions.
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
Conventional exchange (Nasdaq — riba/derivatives trading)
Interest-bearing debt / market cap
limit 30%
—
No data
Cash & investments / market cap
limit 30%
—
No data
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- 0.06% weight · #261 of 503
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $78.82
- Bill NygrenOakmark Funds$637.9M0.8%
Related articles
- Halal investingBlogHaram revenue you can't see from the industry label: pork, weapons, casinosPork hides under "Packaged Foods", weapons under "Aerospace & Defense". What automated screening misses and how we catch it by hand.
- 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?
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.