Is Miami International Holdings (MIAX) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Miami International Holdings (MIAX) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6211 (Security Brokers, Dealers & Flotation Companies)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 30 September 2026.
Miami International Holdings 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% | 0.05% | Pass |
| Cash and interest-bearing investments | 30% | 10.84% | Pass |
| Prohibited income | 5% | 88.29% | Fail |
| Not just cash and debts | 90% | 43.74% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6211 (Security Brokers, Dealers & Flotation Companies)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Its main business is futures and options trading (Yahoo industry “Capital Markets”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Prohibited income, interest included, is 88.3% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4).Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Miami International Holdings, Inc. (MIAX)
Is Miami International Holdings (MIAX) stock halal?▾
No. Miami International Holdings (MIAX) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6211 (Security Brokers, Dealers & Flotation Companies)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 30 September 2026.
What is Miami International Holdings'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. Miami International Holdings's ratio is about under 0.1%.
How much dividend purification is required for Miami International Holdings (MIAX) stock?▾
Miami International Holdings does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Miami International Holdings 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. Miami International Holdings'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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