Shibui Finance is a free halal stock screener, also called an Islamic stock screener, that you run by talking to Claude. Most halal screeners check one ticker at a time and hand back a pass or fail. Shibui screens the entire US market at once, lets you describe exactly what you want, and adds your own investment criteria on top.
What the screener does
Screen the whole market
Run the three AAOIFI ratios across every US equity in one pass. You start from the full compliant universe instead of checking tickers one at a time.
Add your own criteria
Compliance is the floor, not the decision. Filter and rank compliant stocks by growth, valuation, margins, or cash flow in the same request.
Pick your standard
Choose the denominator: market capitalization at a 30% threshold, or total assets at 33%. The screener computes the ratios the way you specify.
Track compliance over time
Check the ratios quarter by quarter, so a company that has stayed well under the line reads differently from one that only just dipped under it.
What AAOIFI screening checks
AAOIFI screening tests three financial ratios from the company's latest quarterly filings. Each ratio compares a balance-sheet or income figure against a denominator you choose:
| Ratio | What it measures | Threshold |
|---|---|---|
| Debt ratio | Interest-bearing debt / denominator | < 30% (market cap) or < 33% (total assets) |
| Securities and cash ratio | Cash + interest-bearing securities / denominator | < 30% or < 33% |
| Non-permissible income ratio | Interest and other non-compliant income / total revenue | < 5% |
You choose the denominator. AAOIFI Standard No. 21 uses market capitalization with a 30% limit. Many retail screeners use total assets with a 33% limit instead, because total assets do not fluctuate with the daily share price. Shibui can compute either. The halal screening guide walks through both in detail.
Sectors excluded before screening
Before the financial ratios are applied, companies in prohibited industries are excluded. The screener filters out companies whose primary business involves:
- Alcohol production or distribution
- Tobacco
- Gambling and gaming
- Weapons and defense
- Adult entertainment
- Conventional banking and insurance (interest-based)
- Pork-related products
Sector classification uses the company's primary industry code. You can also add specific exclusions in your prompt if your standard is stricter.
"Screen all US stocks for AAOIFI compliance using total assets as the denominator. Keep those with debt-to-assets under 25%, positive free cash flow in each of the last four quarters, and a market cap above $2B. Exclude alcohol, gambling, tobacco, and weapons sectors."
Claude applies the sector exclusions, computes the ratios from the latest filings, and returns the names that pass with their supporting numbers. One request, one list.
"Among AAOIFI-compliant stocks, score each one: +1 for revenue growth over 12%, +1 for gross margin over 40%, +1 for a net cash position, and +1 for a 5-year revenue CAGR over 10%. Show the stocks scoring 3 or 4, sorted by score."
You define the scoring. Change the weights, add a criterion, tighten a threshold, and the screen adapts.
A worked example: the three AAOIFI ratios
The financial side of AAOIFI screening comes down to three ratios. Each compares a balance-sheet or income figure against a chosen denominator. The formal AAOIFI Standard No. 21 uses market capitalization with a 30% threshold; many retail screeners use total assets with a 33% threshold instead, because total assets do not move with the daily share price. Shibui can compute either.
- Interest-bearing debt ratio - total interest-bearing debt divided by the denominator, kept below 30% (market cap) or 33% (total assets).
- Securities and cash ratio - cash plus interest-bearing investments divided by the denominator, below the same threshold.
- Non-permissible income ratio - interest and other non-compliant income divided by total revenue, kept below 5%.
Take an example company with $40B market capitalization, $50B total assets, $9B of interest-bearing debt, $6B of cash and short-term interest-bearing securities, $30B of revenue, and $0.4B of interest income. Running both standards side by side:
| Ratio | Market cap basis (limit 30%) | Total assets basis (limit 33%) |
|---|---|---|
| Interest-bearing debt | $9B / $40B = 22.5%, pass | $9B / $50B = 18.0%, pass |
| Securities and cash | $6B / $40B = 15.0%, pass | $6B / $50B = 12.0%, pass |
| Non-permissible income | $0.4B / $30B = 1.3%, pass | $0.4B / $30B = 1.3%, pass |
This company passes on both standards. The numbers above are illustrative, not a claim about any specific stock; Shibui pulls the real figures from the latest quarterly filing when you run the screen. Notice the debt ratio is lower on the total-assets basis here, because this company's assets exceed its market cap. For a company trading at a high premium to book value, the market-cap basis is the more lenient one. Which standard you follow is your decision; the screener shows the math for whichever denominator you pick.
Check a single ticker, too
Screening the whole market is the main use, but you can point the same three ratios at one company just as easily.
"Is NVIDIA AAOIFI-compliant on the total-assets basis? Show its debt-to-assets ratio, cash-and-securities-to-assets ratio, and interest income as a share of revenue from the latest quarter."
Claude returns the three figures from the most recent filing with a pass or fail against each threshold, so you see why a stock qualifies, not just whether it does. To watch those ratios quarter by quarter, the guide to halal stock screening shows how to track compliance over time.
How it compares to dedicated halal apps
Dedicated halal apps like Zoya, Musaffa, and Islamicly are built for a different workflow. They are stronger for quick per-stock compliance checks, purification, zakat, and mobile access. Shibui is stronger for screening the whole market by compliance plus your own criteria, ranking the results, or tracking compliance over time.
| Feature | Shibui | Zoya | Musaffa | Islamicly |
|---|---|---|---|---|
| Price | Free | ~$8/month | Paid tiers | Free + premium |
| Coverage | ~10,000 US | ~12,000 (US, UK, CA) | 6,200+ (19 countries) | 30,000+ (global) |
| Screening | Full market scan in plain English | One ticker at a time | One ticker at a time | Per-stock + curated lists |
| Add investment criteria | Yes (any combination) | No | No | No |
| Compliance history | Quarter by quarter | No | No | — |
| Purification calculator | No | Yes | Yes | Yes |
| Zakat calculator | No | Yes | Yes | — |
| Mobile app | No (runs in Claude) | Yes | Yes | Yes |
Many investors use both: a dedicated app for quick checks and purification, and Shibui as the free alternative for finding new compliant stocks that match specific investment criteria. See the full Shibui vs Zoya comparison for a deeper side-by-side.
Frequently asked questions
Is there a free halal stock screener?
Shibui Finance is a free halal stock screener. You connect it to Claude once (the free Claude plan works) and screen nearly 10,000 US stocks for AAOIFI compliance in plain English. There is no separate subscription; you only need a Claude account.
What is an Islamic stock screener?
An Islamic stock screener (also called a halal stock screener or Shariah-compliant screener) checks publicly traded companies against Islamic financial principles. It excludes companies in prohibited industries and tests three financial ratios set by AAOIFI: interest-bearing debt, interest-bearing securities and cash, and non-permissible income, each measured against a denominator (market cap or total assets).
How do I know if a stock is halal?
A stock is considered halal if it passes two tests. First, the company's primary business must not be in a prohibited industry. Second, it must pass three financial ratios from the latest quarterly filings: debt below 30-33%, securities and cash below 30-33%, and non-permissible income below 5% of revenue. The halal screening guide walks through the ratios step by step.
What is the best halal stock screener?
It depends what you need. Dedicated apps like Zoya and Musaffa check one ticker at a time with purification and zakat tools. Shibui screens the entire market for compliant stocks that also meet investment criteria you define, rank them, or track compliance over time. Many investors use both.
Can a halal stock screener also filter by fundamentals?
Most cannot. Shibui checks AAOIFI compliance and fundamental criteria in the same query, so you can ask for compliant stocks with revenue growth above 15%, positive free cash flow, and a P/E under 25, and get one filtered list instead of cross-referencing two tools.
What is the difference between halal stock screener apps?
Dedicated apps like Zoya and Musaffa check one ticker at a time and return a pass/fail verdict, with purification calculators, zakat tools, and mobile apps. Shibui screens the entire US market at once for AAOIFI compliance and lets you add your own investment criteria in the same query. Zoya and Musaffa cover more countries; Shibui covers only US equities but offers deeper fundamental screening within the compliant universe.
Is there a free alternative to Zoya and Musaffa?
Shibui Finance is a free alternative to paid halal apps like Zoya, Musaffa, and Islamicly. Those apps focus on per-stock compliance verdicts with purification and zakat tools; Shibui screens the entire US market for AAOIFI compliance and lets you add your own investment criteria, all free through Claude. It has no purification or mobile features, so some investors use both - a dedicated app for verdicts and Shibui for market-wide screening.
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