portfolIQ halal data: what we provide and what we don't
portfolIQ exposes raw financial inputs for halal screening. It does not compute verdicts. Standards AAOIFI, DJIM, and Sharia Council — the calculation is your responsibility.
portfolIQ halal data: what we provide and what we don't
Disclaimer: portfolIQ does not provide halal or haram verdicts. It does not issue fatwas. It provides raw, factual financial data. Interpretation against any Sharia standard (AAOIFI, DJIM, Sharia Capital, etc.) is solely the responsibility of the data consumer. Not a fatwa. Methodology disclosed. Consult a qualified Shariah scholar.
The core principle: inputs, not verdicts
portfolIQ is a data platform, not an Islamic finance certification body. Our role is to expose raw financial inputs in a structured, machine-readable format. Your application — and your qualified Shariah scholar — decide what to do with those inputs.
This architecture is intentional. Different Sharia standards use different thresholds and methodologies:
| Standard | Total debt / avg 24m market cap | Haram revenue / total revenue |
|---|---|---|
| DJIM (S&P Dow Jones) | ≤ 33% | ≤ 5% (haram) |
| AAOIFI SS21 | ≤ 33% (total liabilities / total assets) | ≤ 5% |
| Wahed / Saturna | ≤ 33% | ≤ 5% |
| ISSI Indonesia / SC Malaysia | Regulator-specific thresholds | Sector-based |
portfolIQ exposes the numerators and denominators. You apply the threshold.
What portfolIQ provides
Equity fields (Sprint 30, GET /v1/instruments/stock/{ticker}/fundamentals)
These fields are derived from SEC EDGAR XBRL filings (public domain, 17 CFR §200.80):
| Field | Description |
|---|---|
total_debt_usd | Long-term debt + short-term debt (XBRL us-gaap:LongTermDebt + ShortTermBorrowings) |
total_assets_usd | Total assets from balance sheet |
total_revenue_usd | Annual revenue (trailing 12M) |
market_cap_avg_24m_usd | 24-month rolling average market cap (Sprint 30 backfill) |
cash_and_equivalents_usd | Cash + cash equivalents |
accounts_receivable_usd | Trade receivables |
sector_gics | GICS sector classification (factual, no halal interpretation) |
What portfolIQ does NOT compute: the ratio total_debt / market_cap_avg_24m. That calculation is yours. You compare it against your chosen standard's threshold.
ETF structural fields (GET /v1/instruments/etf/{ticker})
| Field | Description |
|---|---|
replication_method | physical_full, physical_optimized, synthetic_swap, synthetic_funded |
securities_lending | true / false — whether the ETF lends securities from its portfolio |
distribution_type | accumulating / distributing |
domicile | Country of registration (ISO 3166-1 alpha-2) |
Interpretation is your responsibility. Some Sharia scholars permit physical_optimized replication; others require physical_full. Some prohibit securities_lending entirely. portfolIQ exposes the fact; you apply the ruling.
Commodity fields (GET /v1/instruments/commodity/{symbol})
| Field | Description |
|---|---|
instrument_type | spot, futures, forward, etc_physical, etc_synthetic, etc_unallocated |
is_physically_backed | true / false |
metal_storage_type | allocated, unallocated, unknown |
Interpretation is your responsibility. Gold spot (XAU, allocated, etc_physical) is treated differently from gold ETCs backed by unallocated contracts under most Sharia opinions. portfolIQ exposes the structural facts; you apply the ruling.
Certification flags (where available)
| Field | Description |
|---|---|
is_islamic_certified | true if the issuer has obtained a Sharia certification |
islamic_certifier | Certifying body: AAOIFI, Shariah_Capital, SC_Malaysia, ISSI_Indonesia, etc. |
These flags reflect issuer-published certification claims. portfolIQ does not independently verify or audit them. Treat them as factual data points, not endorsements.
What portfolIQ does NOT provide
- Halal / haram verdicts — we do not label any instrument as permissible or impermissible.
- Purification ratios — computation of
sharia_purification_ratiois left to the consumer. - Revenue segment breakdown — identifying haram revenue streams (alcohol, weapons, gambling, etc.) requires granular segment data that is not yet in scope for Phase 1.
- Fatwa issuance — portfolIQ is a software company, not a Sharia certification authority.
Why this architecture
- Standards diverge. DJIM, AAOIFI SS21, SC Malaysia, OJK Indonesia, and individual scholars do not always agree. A single portfolio-level verdict from PIQ would be misleading.
- Liability. Religious rulings carry personal and community responsibility. That responsibility belongs to qualified scholars and the Muslim investor, not to a data API.
- Flexibility. Your application can support multiple standards simultaneously (DJIM for one user, AAOIFI for another) by reusing the same PIQ inputs.
Related pages
- Stock metadata consensus — EDGAR sourcing and field coverage
- DJIM vs AAOIFI — detailed formula comparison and PIQ field mapping
- Multi-tier data sourcing — licensing framework and attribution policy
- API reference — full endpoint schema
Not financial advice. Not a fatwa. Methodology disclosed. Consult a qualified Shariah scholar for religious rulings. portfolIQ is not a registered investment advisor.