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Is BullFrog AI (BFRG) stock Halal?
Verdict for BullFrog AI (BFRG): not Shariah compliant (FAIL). Screened October 2026 under AAOIFI Shariah Standard No. 21. Business activity: pass. Non-permissible income: fail. Interest-bearing investments: fail. Interest-bearing debt: pass. Preference shares: pass. Dividend purification factor: not applicable. Next review: November 2026.
BullFrog AI is a company that engages in the burgeoning field of artificial intelligence technology, focusing on the development and implementation of AI solutions across various sectors. Its primary function is to leverage advanced machine learning techniques to enhance decision-making processes in business and technology. Before any of that matters to a Muslim investor, one question comes first: is BullFrog AI stock Halal?
Is BullFrog AI Shariah compliant?
No. In the October 2026 screening BullFrog AI (BFRG) does not pass AAOIFI screening: it fails the non-permissible income and interest-bearing investments screens. Healthcare rarely troubles the activity screen; treating illness is permissible work. For BullFrog AI, the AAOIFI Shariah Standard No. 21 verdict turns on the balance sheet instead: research is capital hungry, and interest bearing debt and investments must each stay below 30% of market capitalisation.
Does BullFrog AI pass the business activity test?
The activity screen is only part of the picture this month: BullFrog AI currently fails the non-permissible income and interest-bearing investments screens, so the overall verdict is not compliant regardless of the business itself. Treating illness is permissible work; the scrutiny belongs to the financing behind it.
Is BullFrog AI's income Halal?
No. BullFrog AI's income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.
Does BullFrog AI 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 $11.1M (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 BullFrog AI?
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 What is Halal Investing? A Guide to Halal Stocks and Islamic Finance
Frequently asked questions
Is BullFrog AI (BFRG) stock Halal to invest in?
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How often is BullFrog AI (BFRG) reviewed for Shariah compliance?
Does BullFrog AI (BFRG) pass the AAOIFI non-permissible income screen?
Does BullFrog AI (BFRG) pass the AAOIFI interest-bearing investments screen?
Does BullFrog AI (BFRG) pass the AAOIFI interest-bearing debt screen?
What is the dividend purification factor for BullFrog AI (BFRG) stock?
Does BullFrog AI (BFRG) pass the AAOIFI preference share screen?
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