Is JMKE (Jersey Mike's) halal?

Why this ticker is different from a normal screening question. Most large US listings fail or pass on the financial ratios: interest-bearing debt against market cap, interest-bearing deposits and securities against market cap, and impermissible income against revenue. Jersey Mike's is a sandwich chain, so the first screen, the qualitative business activity screen, is the one that matters. Pork is prohibited outright under AAOIFI Shari'a Standard No. 21, not merely capped, and cured pork products are not incidental to a sub shop's menu. So the honest answer before the data exists is that the impermissible revenue share is the number to wait for, and it is the number nobody has published yet.

What the AAOIFI mechanics will be. Standard No. 21 applies a two-screen test. The business activity screen asks whether the company's core activity is permissible. The quantitative screens then cap interest-bearing debt at 30% of market capitalization, cap interest-bearing deposits and securities at 30% of market capitalization, and cap income from impermissible sources at 5% of total revenue. A restaurant group whose prohibited-food revenue exceeds 5% of total revenue fails on the revenue screen regardless of how clean its balance sheet is. For a newly listed company the market cap denominators only become meaningful once the shares actually trade, which is another reason a pre-listing verdict would be guesswork.

Where the two schools genuinely differ, stated plainly. Contemporary Sunni Shari'a boards working from the AAOIFI framework accept a small, unavoidable share of impermissible revenue inside the 5% threshold and require the investor to purify the corresponding portion of dividends and gains by giving it away. Dar al-Ifta al-Misriyyah follows this threshold-plus-purification approach for mixed companies. The office of Ayatollah Sistani takes a more cautious line on shares in a company that itself deals in prohibited goods, directing followers away from ownership where the prohibited dealing is part of the company's own trade rather than an incidental financial by-product, and to refer to the most learned authority when in doubt. For a chain that sells pork directly, that distinction is not academic: a stock can sit inside the AAOIFI threshold and still be one a cautious follower avoids.

What happens next on this page. HalalScreener screens US-listed stocks, ETFs, and crypto (10,000+), plus major global companies via their US ADRs, and JMKE enters that universe the day it lists. When the first screen runs we will publish the verdict, the compliance score, the three ratios against their thresholds, and the purification estimate here, with the screening date shown. We are a screener, not a certifying body: the numbers and the AAOIFI mechanics are ours, the ruling you act on is yours and your scholar's.