Is Milestone Scientific (MLSS) stock Halal?

Milestone Scientific is a unique entity specializing in the development, production, and commercialization of advanced and innovative medical devices. Focused primarily on pioneering the use of computer-controlled injections, the company utilizes patented pressure feedback technology to perform precise and controlled drug delivery. This technology is efficiently applied within dental anesthesia through its STA (Single Tooth Anesthesia) System, transforming pain management in dentistry. Before any of that matters to a Muslim investor, one question comes first: is Milestone Scientific stock Halal?

Is Milestone Scientific Shariah compliant?

Yes. In the October 2026 screening Milestone Scientific (MLSS) passes AAOIFI Shariah Standard No. 21: the business activity screen and every financial ratio screen hold. Healthcare rarely troubles the activity screen; treating illness is permissible work. For Milestone Scientific, the AAOIFI Shariah Standard No. 21 verdict turns on the balance sheet instead: research is capital hungry, and interest bearing debt and investments must each stay below 30% of market capitalisation.

Does Milestone Scientific pass the business activity test?

Yes. In the October 2026 screening Milestone Scientific holds an overall PASS, which a stock only earns when its core business clears the activity screen. Treating illness is permissible work; the scrutiny belongs to the financing behind it.

Is Milestone Scientific's income Halal?

Yes, within AAOIFI's tolerance. Milestone Scientific'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 99.92% tells holders of MLSS 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 Milestone Scientific 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 $36.2M (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has MLSS re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Milestone Scientific?

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 Halal Investing? A Guide to Halal Stocks and Islamic Finance