What is Companhia Energética de Minas Gerais's Shariah compliance score?

Companhia Energética de Minas Gerais (CIG) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Companhia Energética de Minas Gerais pass AAOIFI screening?

Companhia Energética de Minas Gerais (CIG) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. CIG's debt-to-market-cap is 68.8%.

How much purification is needed for Companhia Energética de Minas Gerais?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Companhia Energética de Minas Gerais (CIG) using the latest financial data.

Where can I screen Companhia Energética de Minas Gerais for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Companhia Energética de Minas Gerais (CIG) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

CIGNot HalalF

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Compliance Status

Not Halal

Screened on Oct 15, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Companhia Energética de Minas Gerais (CIG) halal? Not Halal. Based on AAOIFI screening, Companhia Energética de Minas Gerais passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Companhia Energética de Minas Gerais (CIG) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 15, 2026. Source: https://halalscreener.app/en/stock/CIG

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

68.8% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding CIG

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

CIG: Is Companhia Energética de Minas Gerais Halal?

Companhia Energética de Minas Gerais

NYSEUtilitiesBR

$2.32

Market Cap: 6.6B

Screened on a market cap of 33.1B

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About Companhia Energética de Minas Gerais

Companhia Energética de Minas Gerais (CIG) is a prominent Brazilian energy company whose operations, conducted through its various subsidiaries, span the entire electricity value chain: generation, transmission, distribution, and retail. As of December 31, 2021, CIG's substantial infrastructure included 70 hydroelectric, wind, and solar power plants with a collective installed capacity of 5,700 megawatts. Its extensive network also featured 339,086 miles of distribution lines and 4,449 miles of transmission lines. Beyond its core electricity business, the company is active in the gas sector, handling the acquisition, transportation, and distribution of natural gas and its derivatives. Furthermore, CIG offers a diverse range of technology services, including cloud solutions, IT infrastructure and management, cybersecurity, and specialized systems for the operational oversight of public service concessions. Its portfolio extends to energy trading, telecommunications services, distributed generation initiatives, client account services, cogeneration projects, energy efficiency programs, and comprehensive supply and storage management. Established in 1952, Companhia Energética de Minas Gerais maintains its corporate headquarters in Belo Horizonte, Brazil.

Sector: Utilities · Industry: Regulated Electric

Why this does not pass

Interest-bearing debt is 68.8% of market cap, over the 30% AAOIFI limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 15, 2026

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PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: FMP

Halal Alternatives in Utilities

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

0011.KLA+

Brite-Tech Bhd

$0.27

+0.00%

3069.KLA+

Mega First Corporation Bhd

$2.74

-0.01%

5041.KLA+

PBA Holdings Bhd

$2.04

+0.00%

5209.KLA+

Gas Malaysia Bhd

$5.18

+0.01%

5264.KLA+

Malakoff Corporation Bhd

$0.76

+0.00%

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Frequently Asked Questions

Is Companhia Energética de Minas Gerais (CIG) halal to invest in?

Companhia Energética de Minas Gerais (CIG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Companhia Energética de Minas Gerais get a F compliance rating?

Companhia Energética de Minas Gerais (CIG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 68.8% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Companhia Energética de Minas Gerais's Shariah verdict?

Companhia Energética de Minas Gerais's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Companhia Energética de Minas Gerais re-screened for Shariah compliance?

Companhia Energética de Minas Gerais (CIG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 15, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.