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Is First Majestic Silver (AG) stock Halal?
First Majestic Silver is a prominent mining company focused on the exploration, development, and production of silver and gold deposits. Primarily operating in North America, the company is celebrated for its robust portfolio of high-quality silver mining assets. First Majestic Silver Corp's primary function is to extract and deliver silver, a precious metal with significant industrial applications and demand in the manufacturing, electronics, and jewelry sectors. For Muslim investors, though, the most pressing question is simpler: is First Majestic Silver a Halal investment?
Is First Majestic Silver Shariah compliant?
Extracting and selling oil, gas or materials is a permissible business, so companies like First Majestic Silver rarely stumble on the activity screen. The pressure point is capital structure: energy is a capital hungry industry that borrows heavily, and AAOIFI Shariah Standard No. 21 caps interest bearing debt at 30% of market capitalisation, a line that moves as commodity cycles move the share price.
Does First Majestic Silver pass the business activity test?
Yes. In the September 2026 screening First Majestic Silver holds an overall PASS, which a stock only earns when its core business clears the activity screen. The activity itself, extracting and selling resources, raises no Shariah objection; the scrutiny belongs to the financing.
Is First Majestic Silver's income Halal?
Yes, within AAOIFI's tolerance. First Majestic Silver's income from non-permissible sources stays below 5% of revenue in the September 2026 screening, and the small impure portion is handled through purification: the factor of 99.6% tells holders of AG what share of each dividend to keep and what remainder to donate to charity.
Does First Majestic Silver 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. Because the caps move with the share price, our Shariah Supervisory Board has AG re-screened every month, and the result above always shows the latest verdict.
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 AAOIFI Standards Explained: What Makes a Stock Halal?
Frequently asked questions
Is First Majestic Silver Corp. AG stock halal to invest in?
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How often is First Majestic Silver Corp. AG reviewed for Shariah compliance?
Does First Majestic Silver Corp. AG pass the AAOIFI Non Permissible Income criteria?
Does First Majestic Silver Corp. AG pass the AAOIFI Interest Bearing Investments criteria?
Does STOCK pass the AAOIFI Interest Bearing Debt criteria?
How can I check the latest Shariah compliance status of First Majestic Silver Corp. stock?
Can the Shariah compliance status of First Majestic Silver Corp. stock change?
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