Stock screening is the process of filtering the investment universe (the list of available stocks) to a small list of equities that passes specific characteristics that investors are looking for.
What makes Finispia different from other screener available on the market?
The screening criteria considered by Finispia are not available in other screening supplier or at least they are not easily accessible. Finispia is offering a straightforward tool for investor / asset manager willing to invest in a Shariah compliant way.
What is the difference between the five global standard methodologies?
There are different global standard methodologies for Shariah compliance. Everyone is endorsed by reputable and globally renowned scholars. The main difference lies in the methodology of the screening and the fundamental ratio allowed by every standard. For more details about the methodology, you should be referring to the respective standard framework.
Finispia is showing me a stock as Halal and other tool is showing it as not Halal?
This may be due to different reasons. One of the main reason is sector and activity tag. Finispia undertakes different test in order to get you a result. Part of the test is screening for sector and activity. Depending on the data source (data vendor), the sector could be tagged differently and thus the discrepancy between tools. Should there be any issue regarding a particular stock, you can report it to our experts and they can investigate it manually.
How a stock is considered as Halal?
Every investment methodology is backed by a trustworthy Sharia advisory board. Overall, the eligibility criteria are two fold: sector based criteria and ratio based criteria.
Sector Based Test Business activities related to the following are excluded:
Gambling / Casinos
After removing companies with non-compliant business activities, the rest of the companies are examined for compliance in financial ratios, as certain ratios may violate compliance measurements. Three areas of focus are leverage, cash, account receivables and the share of revenues from non-compliant activities. All of these are subject to evaluation on an ongoing basis.
Do you calculate purification rate?
Purification rate is the ratio of revenues derived from non-compliant activities divided by the total revenue. There is a tremendous work to be done to get this feature. Finispia is eagerly working to include it in future version of the solution.
How Finispia define a stock as Halal ?
Finispia is using a state of the art technologies on top of manual research to identify Halal Stocks. The search is basically founded upon a certain number of financial ratios while taking into account the business activities.
Can I add a stock to watch list?
Finispia offers the opportunity to add stock on a watch list. You can use “Add to Portfolio” feature to do it.
Can I get notification if stock turns out of halal universe?
Yes, you have this option under premium and unlimited user. You can monitor your portfolio and keep on the track. You could be notified for stocks no longer halal or for stock downgraded in terms of Sharia compliance.
Who can use Finispia service?
inispia service is suitable for a wide range of users including and not limited to
Public user interested in Shariah compliant investment
Personal finance advisor
Mutual Fund manager
Hedge Fund manager
Equity research departments
Private equity firms
How do I become a subscriber?
To be able to subscribe you have to become a registered customer first. As we are concerned about the safety of your sensitive data, such as credit card numbers, we use Stripe as payments Gateway.
Do you offer a free trial?
Yes, the free Trial include three stocks screened for free.
Can I get refund?
Customers have 14 days for total or partial refund. Finispia will refund to customer any prepaid, but unused fees, on search number for Basic and Premium plan and on a straight-line, pro-rata basis, based on a 365-day year and 30 days for Unlimited plan.
Is the subscription renewed automatically?
Yes, the subscription is based on a recurring billing. Until the subscription is cancelled, your credit card is charged automatically after the expiration of the prepaid period and your access is renewed for the next cycle.