Is Chesnara (CSN.L) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Chesnara (CSN.L) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Life”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
Chesnara 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% | 33.29% | Fail |
| Cash and interest-bearing investments | 30% | 2326.40% | Review |
| Prohibited income | 5% | 100.00% | Fail |
| Not just cash and debts | 90% | 97.34% | Review |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Life”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Interest-bearing debt is 33.3% of the company’s 35-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2).Source: AAOIFI Shari'ah Standard 21
- The cash and interest-bearing investments test couldn’t be settled: The figures give 23.8% and 2326.4%, on either side of the limit. The balance sheet is in order of liquidity, as banks and insurers present it, so every asset that isn’t clearly property, intangibles, tax, pensions, inventory, insurance or a stake in an associate is counted as possible cash or interest-bearing investment.Source: AAOIFI Shari'ah Standard 21
- Prohibited income, interest included, is 100.0% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4).Source: AAOIFI Shari'ah Standard 21
- The not just cash and debts test couldn’t be settled: The figures give 1.0% and 97.3%, on either side of the limit. The balance sheet is in order of liquidity, as banks and insurers present it, so every asset that isn’t clearly property, intangibles, tax, pensions, inventory, insurance or a stake in an associate is counted as possible cash or interest-bearing investment.Source: AAOIFI Shari'ah Standard 21
Get an email when verdicts change
One email a month. No spam, unsubscribe any time.
Frequently Asked Questions about Chesnara plc (CSN.L)
Is Chesnara (CSN.L) stock halal?▾
No. Chesnara (CSN.L) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Life”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
What is Chesnara'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. Chesnara's ratio is about 33.3%.
How much dividend purification is required for Chesnara (CSN.L) stock?▾
Chesnara does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Chesnara 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. Chesnara'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.
Other Halal & Shariah-compliant Financial Services Stocks
Explore other screened equities in the Financial Services sector.
Track your entire portfolio for Halal / Islamic compliance
Check whether your stocks, ETFs, and 401(k) holdings comply with AAOIFI Shari’ah Standard 21. Save stocks and keep every holding’s verdict in one place.