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.
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.
Finispia covers 90 stocks exchanges in all of our plan with no exception. No additional fees for additional markets.
Yes, under the unlimited plan, you can use the feature show only Halal Stocks. Yes, there is this feature under the unlimited plan. “Show only halal stocks” is a lovely feature highly requested by our users. you can use the feature show only Halal Stocks.
As per the export option, it is not available for the B2C version, however we can help you set up an Excel file linked with our API: https://rapidapi.com/Finispia/api/finispia2/
Yes, we launched the first ever public API for developer for Halal stock screener. You can access it here: https://rapidapi.com/Finispia/api/finispia2/
Yes, we recently added Halal ETF screening. For more details, you can access here : https://www.finispia.com/halal-etf-screening/
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.
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.
Daily, we use intraday data. However, that doesn’t mean shariah compliance will change daily. It all depends on the standards. Some standards use book data only (Data from financial statements), so the shariah compliance may change only with new disclosure (monthly, quarterly, etc.). Some other standards use both book data and market data, those are more eligible for fluctuation and shariah compliance may even change daily on some particular cases.
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.
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.
Finispia offers the opportunity to add stock on a watch list. You can use “Add to Portfolio” feature to do it.
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.
You can see differences for the same ratio across standards. For example, according to few standards, the debt level is measured with reference to total asset. So, the ratio denominator for the debt level is Total asset, as opposed to the other standards where the debt level is measured with relation to market capitalization which explain the discrepancies you have noticed. Even market capitalization definition would vary across standard. Few standards calculate average for 12 months, some others for 24 months, etc. Those differences may apply for every single standard and every single ratio definition.
We highly recommend being cautious with the standard that are market value sensitive as Halalness may fluctuate much often. While those standards are backed by a highly respected scholars, still the Halal test based on those standards will be much more volatile and dependent to the market price fluctuation. This makes the methodology to be a bit speculative and less in line with Shariah principles.
inispia service is suitable for a wide range of users including and not limited to
Yes, we have Finispia for institution that is only available for corporate customers. That includes additional features such as Excel export, instant Halal ETF screener, connection with mainstream data provider. For more details, feel free to contact us: https://app.finispia.com/contact
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.
Yes, the free Trial include three stocks screened for free.
Yes, you can cancel anytime by switching to a Free plan. To do so, you can head to Profile>>Manage Plan.
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.
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.
A stock that is now Halal could be not in the future. That’s why, we highly recommend users to add their stock into their watchlist (Portfolio under Finispia account) and keep their subscription up to date so they can get alerted if a stock turns out of Halal universe.