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Is Colliers International (CIGI) stock Halal?

NASDAQ
Shariah-Compliant
Not Shariah

Colliers International is a leading global real estate services and investment management company. Its core function is to provide a comprehensive range of services that include project management, property management, valuation, and advisory services to commercial real estate owners, tenants, and investors. The company operates across multiple sectors such as office, industrial, retail, hospitality, and residential real estate, helping clients optimize the performance and value of their properties. For Muslim investors, though, the most pressing question is simpler: is Colliers International a Halal investment?

Is Colliers International Shariah compliant?

Property itself is a permissible asset, which is why real estate attracts Halal investors. The screening question for Colliers International is how the portfolio is financed and whether rental income flows from impermissible tenants; the debt cap and the 5% income ceiling of AAOIFI Shariah Standard No. 21 carry the verdict.

Does Colliers International pass the business activity test?

The activity screen is only part of the picture this month: Colliers International currently fails the interest-bearing debt screen, so the overall verdict is not compliant regardless of the business itself. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.

Is Colliers International's income Halal?

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

Does Colliers International meet AAOIFI's debt and investment ratio requirements?

Not in full. Interest bearing debt currently exceeds the 30% cap, 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.

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 four screens? Read REITs: Halal Real Estate for Muslim Investors

Frequently asked questions

Is Colliers International Group, Inc. CIGI stock halal to invest in?

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How often is Colliers International Group, Inc. CIGI reviewed for Shariah compliance?

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Does Colliers International Group, Inc. CIGI pass the AAOIFI Non Permissible Income criteria?

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Does Colliers International Group, Inc. CIGI pass the AAOIFI Interest Bearing Investments criteria?

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Does STOCK pass the AAOIFI Interest Bearing Debt criteria?

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How can I check the latest Shariah compliance status of Colliers International Group, Inc. stock?

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Can the Shariah compliance status of Colliers International Group, Inc. stock change?

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Shariah Compliant in core.

Screening follows AAOIFI Standard and overseen by our Shariah Supervisory Board.

Sheikh Muhammad Ahmad Sultan

Sheikh Muhammad
Ahmad Sultan

Sheikh Muhammad Ahmad Sultan

Sheikh Dr. Irshad
Ahmad Aijaz

Sheikh Muhammad Ahmad Sultan

Sheikh Dr. Salah Fahad
Al Shalhoob

Sheikh Muhammad Ahmad Sultan

Sheikh Muhammad Ahmad Sultan

Masters in Fiqh and Usool ul Fiqh • 15+ years in GCC Islamic finance

Sheikh Dr. Irshad Ahmad Aijaz

Sheikh Dr. Irshad Ahmad Aijaz

Ph.D., Jamia Dar-ul-Uloom • Chairman, Shariah Advisory Committee, State Bank of Pakistan

Sheikh Dr. Salah Fahad Al Shalhoob

Sheikh Dr. Salah Fahad Al Shalhoob

Ph.D., University of Edinburgh • Assistant Professor, KFUPM

Page 1 of the Shariyah Review Bureau Opinion on Sharia Compliance issued to Tabadulat Limited, UID TBD-4392-02-02-07-25

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