What is Canadian Solar Inc.'s Shariah compliance score?

Canadian Solar Inc.'s (CSIQ) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Canadian Solar Inc. pass AAOIFI screening?

Canadian Solar Inc. (CSIQ) 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% (CSIQ: 753.0%), (3) interest-bearing deposits below 30% (CSIQ: 187.5%), and (4) prohibited income below 5% (CSIQ: 0.8%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Canadian Solar Inc. stock?

Canadian Solar Inc. (CSIQ) has a non-permissible income ratio of 0.82%. Muslim investors should purify this percentage of any dividends received and capital gains realized from CSIQ 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 Canadian Solar Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Canadian Solar Inc. (CSIQ) 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 CSIQ's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

CSIQ: Is Canadian Solar Inc. Halal?

Canadian Solar Inc.

NASDAQEnergyCA

$15.39

-2.72%

Market Cap: 1.0B

Compliance Status

Not Halal

Screened on Jul 13, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Canadian Solar Inc. (CSIQ) halal? Not Halal. Based on AAOIFI screening, Canadian Solar Inc. 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%.

753.0% of 30.0% limit

What this means for you

Most scholars advise not holding CSIQ

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Canadian Solar Inc.

Canadian Solar Inc. and its affiliates operate globally, specializing in the design, development, production, and sale of solar energy components, including ingots, wafers, cells, and modules, alongside a range of solar power and battery storage solutions across Asia, the Americas, and Europe. The company's operations are structured into two main divisions: CSI Solar and Global Energy. The CSI Solar segment offers standard solar modules, comprehensive battery storage systems, and complete, ready-to-install solar kits that encompass inverters, racking systems, and other essential accessories. This division also provides engineering, procurement, and construction (EPC) services. Conversely, the Global Energy segment is involved in the entire lifecycle of solar and battery storage projects, from development and construction to ongoing maintenance and sale. It also manages the operation of solar power facilities and sells generated electricity. This segment further delivers extensive operation and maintenance (O&M) support, such as monitoring, inspections, equipment repair and replacement, site management, and administrative services for solar ventures, in addition to asset management. As of January 31, 2021, this division managed an operational fleet of solar power plants with an aggregate capacity of approximately 445 MWp. Canadian Solar serves a diverse clientele, including distributors, system integrators, project developers, and installation/EPC companies. Its products are primarily marketed under the Canadian Solar brand, with some sales also occurring on an OEM (Original Equipment Manufacturer) basis. Established in 2001, the company is headquartered in Guelph, Canada.

Sector: Energy · Industry: Solar

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 13, 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 Energy

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

0091.KLA+

Propel Global Bhd

$0.08

+0.00%

0118.KLA+

Trive Property Group Bhd

$0.02

+0.00%

0168.KLA+

BM Greentech Bhd

$1.87

+0.01%

0193.KLA+

Kinergy Advancement Bhd

$0.39

+0.00%

0215.KLA+

Solarvest Holdings Bhd

$2.98

-0.01%

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Frequently Asked Questions

Is Canadian Solar Inc. (CSIQ) halal to invest in?

Canadian Solar Inc. (CSIQ) 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 Canadian Solar Inc. get a F compliance rating?

Canadian Solar Inc. (CSIQ) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 753.0% (limit 30%); interest-bearing deposits of 187.5% (limit 30%); prohibited income of 0.82% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Canadian Solar Inc.'s Shariah verdict?

Canadian Solar Inc.'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 Canadian Solar Inc. re-screened for Shariah compliance?

Canadian Solar Inc. (CSIQ) 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 13, 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.