Is New Jersey Resources (NJR) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. New Jersey Resources (NJR) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 74.7% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 19 September 2026.
New Jersey Resources 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% | 74.75% | Fail |
| Cash and interest-bearing investments | 30% | 0.01% | Pass |
| Prohibited income | 5% | 0.00% | Pass |
| Not just cash and debts | 90% | 2.79% | Pass |
Key Findings & Observations
- Interest-bearing debt is 74.7% 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
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Frequently Asked Questions about New Jersey Resources Corporation (NJR)
Is New Jersey Resources (NJR) stock halal?▾
No. New Jersey Resources (NJR) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 74.7% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 19 September 2026.
What is New Jersey Resources'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. New Jersey Resources's ratio is about 74.7%.
How much dividend purification is required for New Jersey Resources (NJR) stock?▾
New Jersey Resources does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does New Jersey Resources 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. New Jersey Resources'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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