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

Companhia Energética de Minas Gerais's (CIG) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Companhia Energética de Minas Gerais pass AAOIFI screening?

Companhia Energética de Minas Gerais (CIG) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (CIG: 315.8%), (3) interest-bearing deposits below 30% (CIG: 42.3%), and (4) prohibited income below 5% (CIG: 1.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

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

Companhia Energética de Minas Gerais (CIG) has a non-permissible income ratio of 1.01%. Muslim investors should purify this percentage of any dividends received and capital gains realized from CIG shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation 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 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about CIG's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

CIG: Is Companhia Energética de Minas Gerais Halal?

Companhia Energética de Minas Gerais

NYSEUtilitiesBR

$2.09

+0.97%

Market Cap: 6.0B

Compliance Status

Not Halal

Screened on Jul 18, 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).

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%.

315.8% of 30.0% limit

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

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: Diversified Utilities

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 18, 2026

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: FY 2025Data 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

$0.25

-0.02%

3069.KLA+

Mega First Corporation Bhd

$2.89

+0.00%

5041.KLA+

PBA Holdings Bhd

$2.01

-0.01%

5209.KLA+

Gas Malaysia Bhd

$5.13

-0.01%

5264.KLA+

Malakoff Corporation Bhd

$0.79

+0.00%

More Utilities Stocks

NEE

NextEra Energy, Inc.

The Southern Company

DUK

Duke Energy Corporation

AEP

American Electric Power Company, Inc.

SRE

Sempra

B+

Dominion Energy, Inc.

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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 315.8% (limit 30%); interest-bearing deposits of 42.3% (limit 30%); prohibited income of 1.01% (limit 5%). 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: Jul 18, 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.