What is Freedom Holding Corp.'s Shariah compliance score?

Freedom Holding Corp.'s (FRHC) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Freedom Holding Corp. pass AAOIFI screening?

Freedom Holding Corp. (FRHC) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (FRHC: 28.4%), (3) interest-bearing deposits below 30% (FRHC: 6.6%), and (4) prohibited income below 5% (FRHC: 50.3%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Freedom Holding Corp. stock?

Freedom Holding Corp. (FRHC) has a non-permissible income ratio of 50.28%. Muslim investors should purify this percentage of any dividends received and capital gains realized from FRHC shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Freedom Holding Corp. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Freedom Holding Corp. (FRHC) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FRHC's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

Is Freedom Holding Corp. (FRHC) halal? Not Halal. Based on AAOIFI screening, Freedom Holding Corp. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

FRHC: Is Freedom Holding Corp. Halal?

Not Halal

Freedom Holding Corp.

NASDAQFinancial ServicesKZ

$157.84

+4.90%

AvoidBorderlineClean

About Freedom Holding Corp.

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. The company offers investment brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital auto loans, as well as insurance products. It also provides capital raising solutions for corporate clients through initial public offerings and follow-on offerings; and debt capital markets solutions that focuses on structuring and distributing private and public debt for various purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations. In addition, the company is involved in trading, investment, and brokerage activities. Further, it facilitates repurchase and reverse repurchase agreements in proprietary trading activities; and covers short positions and settle other securities obligations to accommodate customers' needs and finance its inventory positions. Additionally, the company offers Tradernet software platform for client margin risk evaluation and middle office security transfer requests. It operates in Central Asia, Europe, the United States, Russia, and the Middle East/Caucasus. The company was formerly known as BMB Munai, Inc. and changed its name to Freedom Holding Corp. Freedom Holding Corp. was incorporated in 1981 and is headquartered in Almaty, Kazakhstan.

Sector: Financial Services · Industry: Financial - Capital Markets

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 18, 2026

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap28.4% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 18, 2026Fiscal: FY 2026Source: EDGAR

Financial Overview

Market Cap

9.7B

Price

$157.84

Sector

Financial Services

Industry

Financial - Capital Markets

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

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ABA+

AllianceBernstein Holding L.P.

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IPCXA+

Inflection Point Acquisition Corp. III

$10.31

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AXINA+

Axiom Intelligence Acquisition Corp 1

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Frequently Asked Questions

Is Freedom Holding Corp. (FRHC) halal to invest in?

Freedom Holding Corp. (FRHC) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Freedom Holding Corp. get a F compliance rating?

Freedom Holding Corp. (FRHC) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 28.4% (limit 30%); interest-bearing deposits of 6.6% (limit 30%); prohibited income of 50.28% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Freedom Holding Corp.'s Shariah verdict?

Freedom Holding Corp.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Freedom Holding Corp. re-screened for Shariah compliance?

Freedom Holding Corp. (FRHC) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.