What is TOP Financial Group Limited's Shariah compliance score?

TOP Financial Group Limited's (TOP) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does TOP Financial Group Limited pass AAOIFI screening?

TOP Financial Group Limited (TOP) 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% (TOP: 2.5%), (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 TOP Financial Group Limited 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 TOP Financial Group Limited (TOP) using the latest financial data.

Where can I screen TOP Financial Group Limited for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for TOP Financial Group Limited (TOP) 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 TOP's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

TOP: Is TOP Financial Group Limited Halal?

TOP Financial Group Limited

NASDAQFinancial ServicesSG

$15.37

-5.36%

Market Cap: 114.0M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is TOP Financial Group Limited (TOP) halal? Not Halal. Based on AAOIFI screening, TOP Financial Group Limited 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

Well clear of the limit

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

2.5% of 30.0% limit

What this means for you

Most scholars advise not holding TOP

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About TOP Financial Group Limited

TOP Financial Group Limited operates as a Hong Kong-based online brokerage, offering a diverse array of trading services to its clientele. The company facilitates transactions in both domestic and international equities, futures, and options markets. Its comprehensive brokerage solutions encompass trade execution, account administration, and dedicated client assistance. TOP Financial's extensive futures product line covers index, foreign exchange, agricultural commodities, energy, and precious metals. Additionally, the group provides stock and options brokerage, advisory services, foreign exchange, structured note subscriptions, and margin lending. Founded in 2015, the firm was known as Zhong Yang Financial Group Limited until its rebranding in July 2022. It functions as a subsidiary of Zhong Yang Holdings (BVI) Limited.

Sector: Financial Services · Industry: Financial - Capital Markets

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

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: Q1 2027Data source: EDGAR

Halal Alternatives in Financial Services

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

GLDA+

SPDR Gold Shares

$398.55

+0.17%

SLVA+

iShares Silver Trust

$57.44

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is TOP Financial Group Limited (TOP) halal to invest in?

TOP Financial Group Limited (TOP) 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 TOP Financial Group Limited get a F compliance rating?

TOP Financial Group Limited (TOP) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 2.5% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change TOP Financial Group Limited's Shariah verdict?

TOP Financial Group Limited'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 TOP Financial Group Limited re-screened for Shariah compliance?

TOP Financial Group Limited (TOP) 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 26, 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.