Is Elong Power (ELPW) stock Halal?

Elong Power is a company that operates within the energy sector, primarily focusing on the generation and supply of electricity. Its core purpose is to provide reliable and sustainable energy solutions to meet the growing demands of residential, commercial, and industrial consumers. Elong Power Holdings is involved in the development of both traditional and renewable energy sources, making significant strides in incorporating green technologies to reduce carbon footprints and promote environmental sustainability. For Muslim investors, though, the most pressing question is simpler: is Elong Power a Halal investment?

Is Elong Power Shariah compliant?

No. In the October 2026 screening Elong Power (ELPW) does not pass AAOIFI screening: it fails the non-permissible income screen. Supplying power, gas or water is a permissible service, so utilities like Elong Power rarely trouble the activity screen. The pressure point is the balance sheet: grids and plants are among the most debt financed assets in any market, and AAOIFI Shariah Standard No. 21 caps interest bearing debt at 30% of market capitalisation, the screen that decides most utility verdicts.

Does Elong Power pass the business activity test?

The activity screen is only part of the picture this month: Elong Power currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. Delivering power or water raises no Shariah objection in itself; the scrutiny belongs to the debt behind the network.

Is Elong Power's income Halal?

No. Elong Power'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 Elong Power 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 $2.82M (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has ELPW re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Elong Power?

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 Riba? A Clear Guide for Ethical Muslim Investing