What is Freedom Holding Corp.'s Shariah compliance score?

Freedom Holding Corp. (FRHC) has a Shariah compliance score of 71/100 (Grade: B+, Good) based on AAOIFI screening standards. Scores above 70 typically indicate strong compliance. The score factors in business activity screening and financial ratio analysis including debt levels, interest-bearing deposits, and prohibited income percentages. View the full breakdown at HalalScreener.app.

Does Freedom Holding Corp. pass AAOIFI screening?

Freedom Holding Corp. (FRHC) passes 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% (FRHC: 21.8%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Freedom Holding Corp. stock?

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 exact percentage and amount for Freedom Holding Corp. (FRHC) using the latest financial data.

Where can I screen Freedom Holding Corp. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Freedom Holding Corp. (FRHC) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FRHC's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

FRHC: Is Freedom Holding Corp. Halal?

Freedom Holding Corp.

NASDAQFinancial ServicesUS

$170.66

+4.26%

Market Cap: 10.5B

Compliance Status

Halal

Screened on Aug 30, 2026 · AAOIFI Standard 21

B+

Good

71Score

Is Freedom Holding Corp. (FRHC) halal? Halal. Based on AAOIFI screening, Freedom Holding Corp. passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 71/100 (Grade: B+).

Quote this verdict

HalalScreener rates Freedom Holding Corp. (FRHC) Halal, 71/100, grade B+ under AAOIFI Standard 21, screened Aug 30, 2026. Source: https://halalscreener.app/en/stock/FRHC

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Within the limit

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

21.8% of 30.0% limit

What this means for you

You can own FRHC

It passes both the business activity and financial ratio screens under AAOIFI Standard 21.

Purification amount is Pro

We have screened FRHC's prohibited income, but the exact share you would need to purify is part of Pro.

About Freedom Holding Corp.

Freedom Holding Corp. operates as a diverse financial services organization, offering a broad spectrum of services through its network of subsidiaries. The company specializes in retail and corporate financial solutions, encompassing brokerage, investment analysis, advisory services, securities trading, and market making. It also extends into retail banking, corporate investment banking, and underwriting. For individual and institutional investors, the firm provides access to an extensive range of financial instruments, including equities and debt securities traded on exchanges and over-the-counter, money market products, exchange-traded options and futures, government bonds, and mutual funds. Complementing these offerings, it facilitates margin lending secured by client assets, delivers educational courses for investors, and conducts detailed investment research. The company's commercial banking operations furnish essential services such as payment cards, digital mortgage processing, and digital auto loans. Furthermore, it makes various insurance products accessible to its clientele. In the realm of corporate finance, Freedom Holding Corp. assists businesses in capital raising through initial public offerings (IPOs) and subsequent share offerings. It also crafts and distributes debt capital market solutions, supporting diverse corporate needs like acquisitions, leveraged buyouts, funding for growth, and financial restructuring. Beyond client-focused services, the company actively participates in proprietary trading and investment activities. This includes engaging in repurchase and reverse repurchase agreements, managing short positions, and settling other securities-related obligations to address customer requirements and finance its own asset holdings. Operational efficiency is enhanced by its proprietary Tradernet software platform, which plays a crucial role in assessing client margin risk and managing middle office security transfers. Headquartered in Almaty, Kazakhstan, and established in 1981, the company maintains a significant global footprint, conducting operations across Central Asia, Europe, the United States, Russia, and the Middle East/Caucasus regions. It was previously known as BMB Munai, Inc. before rebranding as Freedom Holding Corp.

Sector: Financial Services · Industry: Financial - Conglomerates

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 30, 2026

Compliance History

Halalnow
since Aug 2026
Not Halal
until the change above

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

Fiscal: Q1 2027Data source: EDGAR

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Frequently Asked Questions

Is Freedom Holding Corp. (FRHC) halal to invest in?

Based on AAOIFI Standard 21 screening, Freedom Holding Corp. (FRHC) is rated Halal with a compliance grade of B+ (Good). It passes both the business activity screen (no primary involvement in prohibited sectors) and the quantitative financial ratio screen (debt, interest deposits, and prohibited income all below AAOIFI thresholds).

Why did Freedom Holding Corp. get a B+ compliance rating?

Freedom Holding Corp. (FRHC) received a grade of B+ (Good) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 21.8% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Freedom Holding Corp.'s Shariah verdict?

Freedom Holding Corp.'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 Freedom Holding Corp. re-screened for Shariah compliance?

Freedom Holding Corp. (FRHC) 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: Aug 30, 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.