Is TIM (TIMS3.SA) stock halal?
Screened against AAOIFI Shari’ah Standard 21
Not settled. TIM (TIMS3.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 5.9% and 35.2%, 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 23 September 2026.
TIM 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% | 35.20% | Review |
| Cash and interest-bearing investments | 30% | 16.35% | Pass |
| Prohibited income | 5% | 3.33% | Pass |
| Not just cash and debts | 90% | 22.11% | Pass |
Key Findings & Observations
- The interest-bearing debt test couldn’t be settled: The figures give 5.9% and 35.2%, 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 TIM S.A. (TIMS3.SA)
Is TIM (TIMS3.SA) stock halal?▾
Not settled. TIM (TIMS3.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 5.9% and 35.2%, 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 23 September 2026.
What is TIM'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. TIM's ratio is about 35.2%.
How much dividend purification is required for TIM (TIMS3.SA) stock?▾
Under AAOIFI Shari’ah Standard 21, shareholders should give away the part of their income that comes from prohibited sources: R$0.3711 per share for the latest financial year. The amount goes to charity, without counting it as one's own donation.
Does TIM 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. TIM'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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