What is Forward Industries, Inc.'s Shariah compliance score?

Forward Industries, Inc. (FWDI) has a Shariah compliance score of 76/100 (Grade: B+, Good). 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 Forward Industries, Inc. pass AAOIFI screening?

Forward Industries, Inc. (FWDI) passes 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%. FWDI's debt-to-market-cap is 22.5%.

How much purification is needed for Forward Industries, Inc.?

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 Forward Industries, Inc. (FWDI) using the latest financial data.

Where can I screen Forward Industries, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Forward Industries, Inc. (FWDI) 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.

FWDIHalalB+

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Compliance Status

Halal

Screened on Oct 18, 2026 · AAOIFI Standard 21

B+

Good

76Score

Is Forward Industries, Inc. (FWDI) halal? Halal. Based on AAOIFI screening, Forward Industries, Inc. passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 76/100 (Grade: B+).

Quote this verdict

HalalScreener rates Forward Industries, Inc. (FWDI) Halal, 76/100, grade B+ under AAOIFI Standard 21, screened Oct 18, 2026. Source: https://halalscreener.app/en/stock/FWDI

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%.

22.5% 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

You can own FWDI

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

Purification amount is Pro

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

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FWDI: Is Forward Industries, Inc. Halal?

Forward Industries, Inc.

NASDAQFinancial ServicesUS

$6.91

-3.36%

Market Cap: 527.2M

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About Forward Industries, Inc.

Forward Industries, Inc. operates through two segments: Digital Assets and Design. The company's primary strategy is focused on its Digital Assets segment, which acquires, holds, and stakes Solana (SOL) and other digital assets, adopting SOL as its main treasury reserve asset. The Design segment provides hardware and software product design and engineering services to customers in the medical and technology sectors.

Sector: Financial Services · Industry: Asset Management - Cryptocurrency

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 18, 2026

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Institutional-grade Shariah analysis

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Screened according to AAOIFI Standard 21

Compliance History

Halalnow
since Jun 2026
Not Halal
until the change above

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

Fiscal: Q3 2026Data source: EDGAR

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Frequently Asked Questions

Is Forward Industries, Inc. (FWDI) halal to invest in?

Based on AAOIFI Standard 21 screening, Forward Industries, Inc. (FWDI) 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 Forward Industries, Inc. get a B+ compliance rating?

Forward Industries, Inc. (FWDI) received a grade of B+ (Good) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 22.5% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Forward Industries, Inc.'s Shariah verdict?

Forward Industries, 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 Forward Industries, Inc. re-screened for Shariah compliance?

Forward Industries, Inc. (FWDI) 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 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.