Is Orizon Valorização de Resíduos (ORVR3.SA) stock halal?
Screened against AAOIFI Shari’ah Standard 21
Not settled. Orizon Valorização de Resíduos (ORVR3.SA) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. The interest-bearing debt test couldn’t be settled: The figures give 29.5% and 30.9%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing. We show this as Needs Review rather than guess. Last checked 28 September 2026.
Orizon Valorização de Resíduos 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% | 30.91% | Review |
| Cash and interest-bearing investments | 30% | 12.81% | Pass |
| Prohibited income | 5% | 0.83% | Pass |
| Not just cash and debts | 90% | 28.04% | Pass |
Key Findings & Observations
- The interest-bearing debt test couldn’t be settled: The figures give 29.5% and 30.9%, 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
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Frequently Asked Questions about Orizon Valorização de Resíduos S.A. (ORVR3.SA)
Is Orizon Valorização de Resíduos (ORVR3.SA) stock halal?▾
Not settled. Orizon Valorização de Resíduos (ORVR3.SA) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. The interest-bearing debt test couldn’t be settled: The figures give 29.5% and 30.9%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing. We show this as Needs Review rather than guess. Last checked 28 September 2026.
What is Orizon Valorização de Resíduos'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. Orizon Valorização de Resíduos's ratio is about 30.9%.
How much dividend purification is required for Orizon Valorização de Resíduos (ORVR3.SA) stock?▾
Under AAOIFI Shari’ah Standard 21, shareholders should give away the part of their income that comes from prohibited sources: R$0.0159 per share for the latest financial year. The amount goes to charity, without counting it as one's own donation.
Does Orizon Valorização de Resíduos 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. Orizon Valorização de Resíduos'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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