Is Empire (EMP-A.TO) stock halal?
Screened against AAOIFI Shari’ah Standard 21
Not settled. Empire (EMP-A.TO) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. Companies in its industry (Yahoo industry “Grocery Stores”) usually sell alcohol. It doesn’t report how much of its revenue that is. We show this as Needs Review rather than guess. Last checked 22 September 2026.
Empire needs further review 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% | 79.54% | Review |
| Cash and interest-bearing investments | 30% | 10.25% | Pass |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 10.12% | Pass |
Key Findings & Observations
- Companies in its industry (Yahoo industry “Grocery Stores”) usually sell alcohol. It doesn’t report how much of its revenue that is.Source: Business check
- Companies in its industry (Yahoo industry “Grocery Stores”) usually sell pork. It doesn’t report how much of its revenue that is.Source: Business check
- The interest-bearing debt test couldn’t be settled: The figures give 12.6% and 79.5%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing.Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: The share of revenue from alcohol and pork isn’t reported.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Empire Company Limited (EMP-A.TO)
Is Empire (EMP-A.TO) stock halal?▾
Not settled. Empire (EMP-A.TO) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. Companies in its industry (Yahoo industry “Grocery Stores”) usually sell alcohol. It doesn’t report how much of its revenue that is. We show this as Needs Review rather than guess. Last checked 22 September 2026.
What is Empire'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. Empire's ratio is about 79.5%.
How much dividend purification is required for Empire (EMP-A.TO) stock?▾
No purification is required for Empire based on its latest annual report.
Does Empire 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. Empire'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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