Is Clover Health Investments (CLOV) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Clover Health Investments (CLOV) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6324 (Hospital & Medical Service Plans)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 27 September 2026.
Clover Health Investments 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% | 16.47% | Pass |
| Cash and interest-bearing investments | 30% | 22.68% | Pass |
| Prohibited income | 5% | 1.57% | Pass |
| Not just cash and debts | 90% | 88.48% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6324 (Hospital & Medical Service Plans)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
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Frequently Asked Questions about Clover Health Investments, Corp. (CLOV)
Is Clover Health Investments (CLOV) stock halal?▾
No. Clover Health Investments (CLOV) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6324 (Hospital & Medical Service Plans)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 27 September 2026.
What is Clover Health Investments'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. Clover Health Investments's ratio is at most 16.5%.
How much dividend purification is required for Clover Health Investments (CLOV) stock?▾
Clover Health Investments does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Clover Health Investments 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. Clover Health Investments'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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