Is Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 92.3% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 1 October 2026.
Canadian Apartment Properties Real Estate Investment Trust 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 | — | — | Pass |
| Interest-bearing debt | 30% | 92.29% | Fail |
| Cash and interest-bearing investments | 30% | 0.93% | Pass |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 0.51% | Pass |
Key Findings & Observations
- Interest-bearing debt is 92.3% 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
- The prohibited income test couldn’t be settled: Yahoo reports interest income of CA$12.8M, more than the company’s cash, investments and receivables could earn at 10% (CA$7.7M), so that figure was set aside. So the income test can’t be settled.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO)
Is Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) stock halal?▾
No. Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 92.3% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 1 October 2026.
What is Canadian Apartment Properties Real Estate Investment Trust'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. Canadian Apartment Properties Real Estate Investment Trust's ratio is about 92.3%.
How much dividend purification is required for Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) stock?▾
Canadian Apartment Properties Real Estate Investment Trust does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Canadian Apartment Properties Real Estate Investment Trust 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. Canadian Apartment Properties Real Estate Investment Trust'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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