Is Capri (CPRI) stock Halal?

Capri is an exchange-traded fund designed to provide investors with broad exposure to the equity markets of African nations. The primary function of this ETF is to track the performance of the FTSE Emerging Africa Index, which encompasses stock markets across various African countries. Notably, this ETF allocates its assets into sectors such as financials, materials, consumer staples, and telecommunications, reflecting the diverse economic drivers within the continent. For Muslim investors, though, the most pressing question is simpler: is Capri a Halal investment?

Is Capri Shariah compliant?

Yes. In the October 2026 screening Capri (CPRI) passes AAOIFI Shariah Standard No. 21: the business activity screen and every financial ratio screen hold. AAOIFI Shariah Standard No. 21 asks two kinds of question about Capri: whether the business itself is permissible, and whether the finances stay inside the thresholds, non-permissible income below 5% of revenue, and interest bearing debt and investments each below 30% of market capitalisation.

Does Capri pass the business activity test?

Yes. In the October 2026 screening Capri holds an overall PASS, which a stock only earns when its core business clears the activity screen. Where incidental impermissible income exists, AAOIFI tolerates it only below the 5% revenue ceiling.

Is Capri's income Halal?

Yes, within AAOIFI's tolerance. Capri's income from non-permissible sources stays below 5% of revenue in the October 2026 screening, and the small impure portion is handled through purification: the factor of 96.15% tells holders of CPRI what share of each dividend to keep and what remainder to donate to charity. On a dividend yield of around None, the purification amount is modest but real.

Does Capri meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation, measured against a market capitalisation of $1.6B (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has CPRI re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Capri?

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?