Is Brilliant Earth (BRLT) stock Halal?

Brilliant Earth is a renowned player in the jewelry industry, particularly known for its commitment to ethically sourced diamonds and fine jewelry. The company emphasizes sustainability and transparency, ensuring all its diamonds are conflict-free and sourced in environmentally responsible ways. Brilliant Earth offers a diverse array of jewelry pieces, including engagement rings, wedding bands, earrings, and pendants, catering to consumers seeking ethical alternatives in the luxury market. For Muslim investors, though, the most pressing question is simpler: is Brilliant Earth a Halal investment?

Is Brilliant Earth Shariah compliant?

No. In the October 2026 screening Brilliant Earth (BRLT) does not pass AAOIFI screening: it fails the interest-bearing investments screen. For consumer companies like Brilliant Earth, the products are rarely the problem; clothing, cars, travel and home goods are permissible. The exposure is usually financing: stores, inventory and expansion are often funded with borrowing, and the 30% cap that AAOIFI Shariah Standard No. 21 places on interest bearing debt is the screen that decides most verdicts in this sector.

Does Brilliant Earth pass the business activity test?

The activity screen is only part of the picture this month: Brilliant Earth currently fails the interest-bearing investments screen, so the overall verdict is not compliant regardless of the business itself. The activity itself raises no Shariah objection; the scrutiny belongs to the financing.

Is Brilliant Earth's income Halal?

Yes, within AAOIFI's tolerance. Brilliant Earth's income from non-permissible sources stays below 5% of revenue in the October 2026 screening.

Does Brilliant Earth meet AAOIFI's debt and investment ratio requirements?

Not in full. Interest bearing investments currently exceed the 30% cap, measured against a market capitalisation of $135M (market data as of 1 October 2026), while the other ratio stays within it. One breach is enough to fail the screening; the ratios are reassessed monthly under our Shariah Supervisory Board.

Why do other halal screeners show a different verdict for Brilliant Earth?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read AAOIFI Standards Explained: What Makes a Stock Halal?