Is Atlanticus Holdings (ATLC) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Atlanticus Holdings (ATLC) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6141 (Personal Credit Institutions)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 29 September 2026.
Atlanticus Holdings is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Fail |
| Interest-bearing debt | 30% | 804.93% | Fail |
| Cash and interest-bearing investments | 30% | 76.71% | Fail |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 8.15% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6141 (Personal Credit Institutions)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Its annual report has a division called ‘Credit and Other Investments’ (98.0% of revenue). We couldn’t tell from the name whether it is conventional banking, lending or insurance.Source: https://www.sec.gov/Archives/edgar/data/1464343/000143774926007972/
- Interest-bearing debt is 804.9% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2).Source: AAOIFI Shari'ah Standard 21
- Cash and interest-bearing investments are 76.7% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: Yahoo reports interest income of $1.4B, more than the company’s cash, investments and receivables could earn at 10% ($62.1M), so that figure was set aside. So the income test can’t be settled.Source: AAOIFI Shari'ah Standard 21
- Reports of inflation stress and financial risk suggest heightened uncertainty for stakeholders.Source: News Analyzer
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Frequently Asked Questions about Atlanticus Holdings Corporation (ATLC)
Is Atlanticus Holdings (ATLC) stock halal?▾
No. Atlanticus Holdings (ATLC) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6141 (Personal Credit Institutions)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 29 September 2026.
What is Atlanticus Holdings's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Atlanticus Holdings's ratio is about 804.9%.
How much dividend purification is required for Atlanticus Holdings (ATLC) stock?▾
Atlanticus Holdings does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Atlanticus Holdings operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Atlanticus Holdings's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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