Is Real Matters (REAL) stock Halal?

Real Matters is a cutting-edge technology company that provides network management services in the real estate and mortgage lending industries. As a leader in property valuation, Real Matters focuses on delivering high-quality appraisal management and title services through its proprietary platforms, allowing lenders and insurance companies to efficiently manage their workflow and reduce costs. For Muslim investors, though, the most pressing question is simpler: is Real Matters a Halal investment?

Is Real Matters Shariah compliant?

No. In the October 2026 screening Real Matters (REAL) does not pass AAOIFI screening: it fails the non-permissible income screen. Property itself is a permissible asset, which is why real estate attracts Halal investors. The screening question for Real Matters is how the portfolio is financed and whether rental income flows from impermissible tenants; the debt cap and the 5% income ceiling of AAOIFI Shariah Standard No. 21 carry the verdict.

Does Real Matters pass the business activity test?

The activity screen is only part of the picture this month: Real Matters currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.

Is Real Matters' income Halal?

No. Real Matters' 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 Real Matters 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 CA$244M (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has REAL re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Real Matters?

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 REITs: Halal Real Estate for Muslim Investors