Is Garden Stage (GSIW) stock Halal?

Garden Stage is a key player in the real estate and property development industry, focusing on the enhancement and management of outdoor spaces. The company's primary function is to design and cultivate aesthetically pleasing and environmentally sustainable gardens and landscapes for both residential and commercial properties. Garden Stage has carved a niche in integrating modern landscaping techniques with eco-friendly practices, appealing to a diverse clientele. For Muslim investors, though, the most pressing question is simpler: is Garden Stage a Halal investment?

Is Garden Stage Shariah compliant?

Finance is the sector where Shariah screening does the most work, because Riba is not incidental here, it can be the product itself. Garden Stage passes the business activity screen only if its revenue comes from permissible services rather than lending at interest, and the financial screens of AAOIFI Shariah Standard No. 21 still apply in full.

Does Garden Stage pass the business activity test?

The activity screen is only part of the picture this month: Garden Stage currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The watch item in this sector is the sharpest of all: revenue must come from permissible services, not from lending at interest.

Is Garden Stage's income Halal?

No. Garden Stage'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 Garden Stage 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 GSIW 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 What is Riba? A Clear Guide for Ethical Muslim Investing