Compliance Status
Not Halal
Screened on Oct 9, 2026 · AAOIFI Standard 21
Non-Compliant
Is Pineapple Financial Inc. (PAPL) halal? Not Halal. Based on AAOIFI screening, Pineapple Financial Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Pineapple Financial Inc. (PAPL) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 9, 2026. Source: https://halalscreener.app/en/stock/PAPL
Business activity
Involved in prohibited business activities.
Company debt
Over the limitHow much the company borrows, compared to its total value. AAOIFI allows up to 30%.
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.
Screened according to AAOIFI Standard 21
What this means for you
Most scholars advise not holding PAPL
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
PAPL: Is Pineapple Financial Inc. Halal?
Pineapple Financial Inc.
$0.85
Market Cap: 21.4M
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About Pineapple Financial Inc.
Pineapple Financial Inc., headquartered in North York, Canada, is a Canadian enterprise specializing in mortgage technology and brokerage services. The company delivers comprehensive mortgage brokerage solutions alongside advanced technological tools. These offerings are designed for a wide array of Canadian mortgage professionals, including agents, brokers, sub-brokers, and entire brokerages, as well as direct consumers. Leveraging sophisticated data-driven systems and cloud-based platforms, its technology suite includes the MyPineapple platform, which empowers users to efficiently manage and execute their brokerage operations. Beyond its core offerings, Pineapple Financial provides extensive back-office support. This encompasses digital onboarding, streamlined loan packaging and processing, a client portal for document management, loan maintenance, and critical administrative functions such as payroll, lender communications, regulatory reporting, and business management. It also covers cloud services, expense collection, document preparation, compliance oversight, training programs, general administration, and marketing assistance. Additionally, the company delivers pre-underwriting assistance, covering crucial aspects like credit assessment, data verification, fraud detection and compliance checks, appraisal coordination and review, and comprehensive data analytics. Furthermore, Pineapple Financial diversifies its portfolio with an array of insurance products, including life, accident and disability, critical illness, and credit insurance. Founded in 2016, the company was initially known as 2487269 Ontario Ltd before rebranding to Pineapple Financial Inc. in June 2021.
Sector: Financial Services · Industry: Financial - Mortgages
Why this does not pass
- Business activity: the company earns from an activity AAOIFI treats as prohibited.
- Interest-bearing debt is 102.2% of market cap, over the 30% AAOIFI limit.
- Income from prohibited sources is over the 5% 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
See which ratio caused the failure.
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Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Prohibited industry: Financial - Mortgages
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.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since Aug 2026.
No status changes recorded since we began tracking.
Tracked since Aug 2026. Updates automatically on each re-screen.
Halal Alternatives in Financial Services
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Frequently Asked Questions
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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.