Is Calian Group Ltd. CGY stock halal to invest in?

No, as of August 2026, Calian Group Ltd. stock (CGY) 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. Calian Group Ltd. 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 Calian Group Ltd. and discover Shariah compliant alternatives among the halal stocks in the Tabadulat app.

How often is Calian Group Ltd. CGY reviewed for Shariah compliance?

Tabadulat reviews Calian Group Ltd. CGY 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 Calian Group Ltd. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.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 Calian Group Ltd. CGY pass the AAOIFI Non Permissible Income criteria?

No, as of August 2026, Calian Group Ltd. stock (CGY) 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. Calian Group Ltd.'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 Calian Group Ltd. CGY pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of August 2026, Calian Group Ltd. stock (CGY) passes the AAOIFI interest-bearing investments screen. Under AAOIFI Shariah Standard No. 21, the cash a company places in interest-earning instruments (such as conventional deposits, bonds, treasury bills and money-market funds) must remain below 30% of its market capitalisation. This limit ensures shareholders are not materially profiting from riba (interest). Calian Group Ltd.'s interest-bearing investments are currently within the 30% threshold. 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 Calian Group Ltd. CGY pass the AAOIFI Interest Bearing Debt criteria?

Yes, as of August 2026, Calian Group Ltd. stock (CGY) passes the AAOIFI interest-bearing debt screen. Under AAOIFI Shariah Standard No. 21, a company's borrowings that accrue interest (conventional bank loans, bonds and similar riba-based financing) must remain below 30% of its market capitalisation. This cap limits shareholders' exposure to interest-based leverage. Calian Group Ltd.'s interest-bearing debt is currently within the 30% threshold. 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 Calian Group Ltd. CGY stock?

Calian Group Ltd. (CGY) 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 Calian Group Ltd. returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does Calian Group Ltd. CGY pass the AAOIFI Preference Share screen?

Yes, as of August 2026, Calian Group Ltd. stock (CGY) 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. Calian Group Ltd. 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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Calian Group Ltd.

TSX

Shariah-Compliant

Not Shariah

CGY

About

Calian Group Ltd.

CGY

Calian Group Ltd. is a diversified Canadian company primarily engaged in the business of providing professional services and innovative engineering solutions. The company serves a broad range of sectors, including health, defense, learning, and information technology. Its operations are divided into segments such as Advanced Technologies and Health, allowing Calian Group to address complex client needs by delivering integrated services tailored to sector-specific requirements. The Advanced Technologies segment focuses on providing engineering services in satellite communication, aerospace, and defense systems, while the Health segment offers healthcare services and clinical support. Calian Group Ltd.'s comprehensive portfolio positions it as a vital player within these industries, contributing to the stability and security of Canada's infrastructure while supporting individual health and professional development. Headquartered in Ottawa, Ontario, Calian's long-standing commitment to quality and customer satisfaction underscores its role in shaping the future of Canadian service and engineering outputs. Its adaptability and strategic approach to market demands highlight its significance amidst a rapidly evolving global landscape.

Sector:

Industrials

Industry:

Specialty Business Services

Employees:

5000

Website:

https://www.calian.com

CGY

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Calian Group Ltd.

About

Calian Group Ltd.

CGY

Frequently asked questions

Is Calian Group Ltd. CGY stock halal to invest in?

How often is Calian Group Ltd. CGY reviewed for Shariah compliance?

Does Calian Group Ltd. CGY pass the AAOIFI Non Permissible Income criteria?

Does Calian Group Ltd. CGY pass the AAOIFI Interest Bearing Investments criteria?

Does Calian Group Ltd. CGY pass the AAOIFI Interest Bearing Debt criteria?

What is the dividend purification factor for Calian Group Ltd. CGY stock?

Does Calian Group Ltd. CGY pass the AAOIFI Preference Share screen?

Can I buy Calian (CGY) stock on Tabadulat?

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