Is Cleveland-Cliffs, Inc. CLF stock halal to invest in?

No, as of August 2026, Cleveland-Cliffs, Inc. stock (CLF) 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. Cleveland-Cliffs, Inc. currently does not meet the threshold for the interest-bearing debt 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 Cleveland-Cliffs, Inc. and discover Shariah compliant alternatives among the halal stocks in the Tabadulat app.

How often is Cleveland-Cliffs, Inc. CLF reviewed for Shariah compliance?

Tabadulat reviews Cleveland-Cliffs, Inc. CLF 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 Monthly screening ensures the status shown for Cleveland-Cliffs, Inc. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.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 Cleveland-Cliffs, Inc. CLF pass the AAOIFI Non Permissible Income criteria?

Yes, as of August 2026, Cleveland-Cliffs, Inc. stock (CLF) passes 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. Cleveland-Cliffs, Inc.'s income from non-permissible sources is currently within this 5% threshold. Even permissible levels of incidental impure income should still be purified: investors donate the corresponding share of dividends to charity, as reflected in the stock's purification factor. This screen is reassessed monthly using the company's latest financial disclosures.

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of August 2026, Cleveland-Cliffs, Inc. stock (CLF) 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). Cleveland-Cliffs, Inc.'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 Cleveland-Cliffs, Inc. CLF pass the AAOIFI Interest Bearing Debt criteria?

No, as of August 2026, Cleveland-Cliffs, Inc. stock (CLF) does not pass 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. Cleveland-Cliffs, Inc.'s interest-bearing debt currently exceeds this 30% limit, meaning the company relies on riba-based financing beyond the level AAOIFI permits for a halal investment. A company can return to compliance by reducing debt or through changes in market capitalisation, and the screen is reassessed monthly.

What is the dividend purification factor for Cleveland-Cliffs, Inc. CLF stock?

Cleveland-Cliffs, Inc. (CLF) 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 Cleveland-Cliffs, Inc. returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Preference Share screen?

Yes, as of August 2026, Cleveland-Cliffs, Inc. stock (CLF) 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. Cleveland-Cliffs, 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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Cleveland-Cliffs, Inc.

NYSE

Shariah-Compliant

Not Shariah

CLF

About

Cleveland-Cliffs, Inc.

CLF

Cleveland-Cliffs Inc. is a leading integrated producer of flat-rolled steel products in North America. The company operates through a robust supply chain that spans a wide range of steel manufacturing processes, including mining, pelletizing, and direct reduced iron production. As a major supplier of steel to various industries, Cleveland-Cliffs serves critical sectors such as automotive, construction, and manufacturing, providing essential materials used in the production of vehicles, appliances, and infrastructure projects. Founded in 1847, Cleveland-Cliffs has evolved from a small iron mining operation into a comprehensive steel powerhouse, reflecting its importance to the U.S. economy and robust industrial base. The firm's strategic acquisitions and production capabilities enhance its position in the market, allowing it to reduce reliance on third-party suppliers and maintain greater control over the quality of its steel products. Cleveland-Cliffs stands out in the financial market due to its significant impact on raw material supply chains and its role in supporting industrial growth and development across North America.

Sector:

Basic Materials

Industry:

Steel

Employees:

30000

Website:

https://www.clevelandcliffs.com

CLF

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Cleveland-Cliffs, Inc.

About

Cleveland-Cliffs, Inc.

CLF

Frequently asked questions

Is Cleveland-Cliffs, Inc. CLF stock halal to invest in?

How often is Cleveland-Cliffs, Inc. CLF reviewed for Shariah compliance?

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Non Permissible Income criteria?

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Interest Bearing Investments criteria?

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Interest Bearing Debt criteria?

What is the dividend purification factor for Cleveland-Cliffs, Inc. CLF stock?

Does Cleveland-Cliffs, Inc. CLF pass the AAOIFI Preference Share screen?

Can I buy Cleveland-Cliffs (CLF) stock on Tabadulat?

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