Is The North West Co., Inc. NWC stock Halal to invest in?

No, as of September 2026, The North West Co., Inc. stock (NWC) is not currently classified as a Shariah compliant stock. This verdict follows the screening methodology of AAOIFI (the Accounting and Auditing Organization for Islamic Financial Institutions), whose Shariah Standard No. 21 is the leading global benchmark for screening Halal stocks. To qualify as Halal under this standard, a company must keep non-permissible income below 5% of total revenue, keep both interest-bearing investments and interest-bearing debt below 30% of market capitalisation, and have no impermissible preference share structure. The North West Co., Inc. currently does not meet the threshold for the non-permissible income screen. Because screenings are refreshed monthly as new financial reports are published, a non-compliant stock can regain compliant status if its financial structure changes. You can track the latest status of The North West Co., Inc. and discover Shariah compliant alternatives among the Halal stocks in the Tabadulat app.

How often is The North West Co., Inc. NWC reviewed for Shariah compliance?

Tabadulat reviews The North West Co., Inc. NWC for Shariah compliance every month. Each review applies the AAOIFI Shariah Standard No. 21 methodology, screening the company's business activities, non-permissible income, interest-bearing investments, interest-bearing debt, and preference shares, against the company's latest available financial data. The process operates under the direct supervision of Tabadulat's dedicated Shariah Supervisory Board of Islamic finance scholars. Because compliance depends on financial ratios that move with market capitalisation and reported results, a stock's status can change from one review to the next. Monthly screening ensures the status shown for The North West Co., Inc. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.

Does The North West Co., Inc. NWC pass the AAOIFI Non Permissible Income criteria?

No, as of September 2026, The North West Co., Inc. stock (NWC) does not pass the AAOIFI non-permissible income screen. Under AAOIFI Shariah Standard No. 21, income from impermissible sources (such as interest or Riba, conventional financial services, alcohol, gambling, or tobacco) must remain below 5% of a company's total revenue. The North West Co., Inc.'s income from non-permissible sources currently exceeds this 5% ceiling, which makes the stock non-compliant on this criterion regardless of how it performs on the other screens. The screen is reassessed monthly, so the status can change when the company releases new financial statements.

Does The North West Co., Inc. NWC pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of September 2026, The North West Co., Inc. stock (NWC) passes the AAOIFI interest-bearing investments screen. AAOIFI caps interest-earning holdings at 30% of market capitalisation so that shareholders do not materially profit from Riba. Measured against the latest data, The North West Co., Inc.'s interest-bearing investments sit within the limit. Because the ratio is measured against market capitalisation, it can move with the share price as well as the balance sheet, which is why Tabadulat rescreens the stock every month.

Does The North West Co., Inc. NWC pass the AAOIFI Interest Bearing Debt criteria?

Yes, as of September 2026, The North West Co., Inc. stock (NWC) passes the AAOIFI interest-bearing debt screen. Each month Tabadulat measures The North West Co., Inc.'s interest-accruing borrowings against AAOIFI's 30% market capitalisation cap. The current screening shows the company within the limit, so the debt screen passes. Because market capitalisation changes daily, a company's debt ratio can drift toward or away from the limit even without new borrowing, which is why this screen is reassessed every month.

What is the dividend purification factor for The North West Co., Inc. NWC stock?

The North West Co., Inc. (NWC) is currently classified as not Shariah compliant, so no dividend purification factor applies, because purification factors are calculated only for stocks that pass the AAOIFI screens. Purification (Tazkiyah) is the practice of donating to charity the small portion of dividend income that stems from incidental non-permissible sources, such as interest earned on a compliant company's cash deposits. For non-compliant stocks the issue is not purification but eligibility: under AAOIFI Shariah Standard No. 21 the stock does not currently qualify as a Halal investment. If The North West Co., Inc. returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does The North West Co., Inc. NWC pass the AAOIFI Preference Share screen?

Yes, as of September 2026, The North West Co., Inc. stock (NWC) passes the AAOIFI preference share screen. AAOIFI Shariah Standard No. 21 prohibits investing in preference shares because they grant holders guaranteed or priority rights to dividends and capital ahead of ordinary shareholders, a structure that conflicts with the Shariah principle that investors should share profit and loss in proportion to their ownership. The North West Co., Inc. has no impermissible preference share structure affecting its ordinary shares, so the stock is compliant on this criterion. Like all AAOIFI screens, this is verified in each monthly review.

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Is North West (NWC) stock Halal?

TSX

Shariah-Compliant

Not Shariah

As of the September 2026 screening, The North West Co., Inc. (NWC) does not meet the AAOIFI Shariah Standard No. 21 threshold for the non-permissible income screen, so the stock is not currently classified as Shariah compliant. It is re-screened every month and can regain compliance if its financial structure changes.

Sector:

Consumer Defensive

Industry:

Grocery Stores

Employees:

7003

Website:

https://www.northwest.ca

Market cap:

CA$2.3B

P/E ratio:

16.8

Dividend yield:

3.35%

52-week range:

CA$44.63 - CA$56.77

Data as of:

3 September 2026

Screening history:

September 2026: FAIL

North West is a prominent retail enterprise focused on serving remote and underserved communities across North America and certain international locales. Known for its deep-rooted presence in northern markets, the company primarily functions as a retailer, offering a comprehensive array of food, clothing, and general merchandise. Its operations are critical in areas where conventional supply chains face challenges, establishing The North West Company as a vital player in ensuring accessibility and availability of essential goods. For Muslim investors, though, the most pressing question is simpler: is North West a Halal investment?

Is North West Shariah compliant?

Food, household goods and everyday retail are permissible activities, with one watch item: incidental revenue from alcohol, tobacco or conventional financial services must stay below the 5% ceiling of AAOIFI Shariah Standard No. 21. For North West, that is usually the screen worth reading first.

Does North West pass the business activity test?

The activity screen is only part of the picture this month: North West currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The watch item is the product mix: any alcohol, tobacco or similar lines count against the 5% ceiling.

Is North West's income Halal?

No. North West'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 North West 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 NWC 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 Halal Investing? A Guide to Halal Stocks and Islamic Finance

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