Is Motilal Oswal Financial Services (MOTILALOFS.NS) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Motilal Oswal Financial Services (MOTILALOFS.NS) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is futures and options trading (Yahoo industry “Capital Markets”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 28 September 2026.
Motilal Oswal Financial Services 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% | 44.18% | Fail |
| Cash and interest-bearing investments | 30% | 30.04% | Fail |
| Prohibited income | 5% | 7.31% | Fail |
| Not just cash and debts | 90% | 42.00% | Pass |
Key Findings & Observations
- 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
- Interest-bearing debt is 44.2% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2).Source: AAOIFI Shari'ah Standard 21
- Cash and interest-bearing investments are 30.0% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
- Prohibited income, interest included, is 7.3% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4).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 Motilal Oswal Financial Services Limited (MOTILALOFS.NS)
Is Motilal Oswal Financial Services (MOTILALOFS.NS) stock halal?▾
No. Motilal Oswal Financial Services (MOTILALOFS.NS) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is futures and options trading (Yahoo industry “Capital Markets”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 28 September 2026.
What is Motilal Oswal Financial Services'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. Motilal Oswal Financial Services's ratio is about 44.2%.
How much dividend purification is required for Motilal Oswal Financial Services (MOTILALOFS.NS) stock?▾
Motilal Oswal Financial Services does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Motilal Oswal Financial Services 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. Motilal Oswal Financial Services'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.