Is HA Sustainable Infrastructure Capital (HASI) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. HA Sustainable Infrastructure Capital (HASI) does not pass the AAOIFI Shari’ah Standard 21 screen. Prohibited income, interest included, is 71.5% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4). Last checked 18 September 2026.
HA Sustainable Infrastructure Capital 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% | 120.07% | Review |
| Cash and interest-bearing investments | 30% | 2.78% | Pass |
| Prohibited income | 5% | 71.50% | Fail |
| Not just cash and debts | 90% | 91.67% | Review |
Key Findings & Observations
- The interest-bearing debt test couldn’t be settled: The figures give 5.7% and 120.1%, on either side of the limit.Source: AAOIFI Shari'ah Standard 21
- Prohibited income, interest included, is 71.5% 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 1.3% and 91.7%, on either side of the limit.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about HA Sustainable Infrastructure Capital, Inc. (HASI)
Is HA Sustainable Infrastructure Capital (HASI) stock halal?▾
No. HA Sustainable Infrastructure Capital (HASI) does not pass the AAOIFI Shari’ah Standard 21 screen. Prohibited income, interest included, is 71.5% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4). Last checked 18 September 2026.
What is HA Sustainable Infrastructure Capital'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. HA Sustainable Infrastructure Capital's ratio is about 120.1%.
How much dividend purification is required for HA Sustainable Infrastructure Capital (HASI) stock?▾
HA Sustainable Infrastructure Capital does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does HA Sustainable Infrastructure Capital 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. HA Sustainable Infrastructure Capital'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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