What is Rafael Holdings, Inc.'s Shariah compliance score?

Rafael Holdings, Inc. (RFL) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). 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 Rafael Holdings, Inc. pass AAOIFI screening?

Rafael Holdings, Inc. (RFL) does not pass 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%. RFL's debt-to-market-cap is 0.8%.

How much purification is needed for Rafael Holdings, 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 Rafael Holdings, Inc. (RFL) using the latest financial data.

Where can I screen Rafael Holdings, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Rafael Holdings, Inc. (RFL) 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.

RFLNot HalalF

Unlock full report, free

Compliance Status

Not Halal

Screened on Oct 8, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Rafael Holdings, Inc. (RFL) halal? Not Halal. Based on AAOIFI screening, Rafael Holdings, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Rafael Holdings, Inc. (RFL) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 8, 2026. Source: https://halalscreener.app/en/stock/RFL

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

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

0.8% 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.

Card needed, nothing charged today

Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding RFL

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

RFL: Is Rafael Holdings, Inc. Halal?

Rafael Holdings, Inc.

NYSEReal EstateUS

$1.60

Market Cap: 81.9M

Get an email if RFL's halal status changes

We re-screen Rafael Holdings, Inc. daily. If the verdict moves, you hear about it the same day.

Free. One click sets it up, and you can unsubscribe any time.

About Rafael Holdings, Inc.

Rafael Holdings, Inc. holds strategic investments in both early-stage and clinical pharmaceutical companies, alongside a portfolio of commercial real estate assets situated in the United States and Israel. The company's business activities are structured into two primary divisions: Pharmaceuticals and Real Estate. Its Real Estate segment manages and leases a commercial office complex, which features an integrated 800-space public parking facility. The Pharmaceutical division, conversely, focuses on developing and bringing to market therapies designed to capitalize on the metabolic distinctions between healthy cells and malignant ones. The firm's flagship drug candidate is CPI-613 (devimistat), currently undergoing evaluation in numerous clinical trials, including two pivotal Phase III registrational studies for the treatment of advanced pancreatic cancer and relapsed/refractory acute myeloid leukemia. Rafael Holdings, Inc. is headquartered in Newark, New Jersey.

Sector: Real Estate · Industry: Real Estate - Services

Why this does not pass

Interest-bearing deposits are over the 30% 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

AAOIFI Standard 21Updated Oct 8, 2026

See which ratio caused the failure.

See the exact debt ratio, interest income %, and prohibited revenue that caused the failure. Know before you sell or hold.

Free for 7 days. Cancel anytime.

Card needed, nothing charged today

AI Compliance Insight

PRO

Institutional-grade Shariah analysis

Card needed, nothing charged today

See why RFL is rated Not Halal with institutional-grade analysis

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.

Fiscal: Q3 2026Data source: EDGAR

Halal Alternatives in Real Estate

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

5106.KLA+

Axis Real Estate Investment Trust

$1.83

-0.01%

5116.KLA+

Al-'Aqar Healthcare REIT

$1.17

+0.02%

5269.KLA+

Al-Salam Real Estate Investment Trust

$0.59

+0.01%

5307.KLA+

AME Real Estate Investment Trust

$1.62

+0.07%

7249.KLA+

Skygate Solutions Berhad

$0.87

+0.02%

More Real Estate Stocks

PLD

Prologis, Inc.

B+

PSA

Public Storage

DLR

Digital Realty Trust, Inc.

Realty Income Corporation

SPG

Simon Property Group, Inc.

WELL

Welltower Inc.

B+

Free · No credit card required

Know the day RFL's verdict changes

A free account keeps watch on 3 stocks and emails you when a verdict moves. You also get 3 questions for the AI Scholar. No card needed.

Get Started Free Browse Screener

8,200+ assets AAOIFI standards Free watchlist

Frequently Asked Questions

Is Rafael Holdings, Inc. (RFL) halal to invest in?

Rafael Holdings, Inc. (RFL) 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 Rafael Holdings, Inc. get a F compliance rating?

Rafael Holdings, Inc. (RFL) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 0.8% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Rafael Holdings, Inc.'s Shariah verdict?

Rafael Holdings, 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 Rafael Holdings, Inc. re-screened for Shariah compliance?

Rafael Holdings, Inc. (RFL) 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 8, 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.