Halal Stocks in the TSX 60
The S&P/TSX 60 Index tracks 60 of the largest companies listed on the Toronto Stock Exchange. It is the primary benchmark for Canadian equities and is widely used by institutional investors for Canadian market exposure.
11
Compliant
9
Non-Compliant
0
Needs Review
TSX 60 Shariah Compliance Results
20 stocks screened against AAOIFI 30/30/5 standards.
| Symbol | Company | Status |
|---|---|---|
| RY.TO | Royal Bank of Canada | Non-Compliant |
| TD.TO | The Toronto-Dominion Bank | Non-Compliant |
| ENB.TO | Enbridge Inc. | Non-Compliant |
| CNR.TO | Canadian National Railway Company | Compliant |
| BMO.TO | Bank of Montreal | Non-Compliant |
| BN.TO | Brookfield Corporation | Non-Compliant |
| CP.TO | Canadian Pacific Kansas City Limited | Compliant |
| BCE.TO | BCE Inc. | Non-Compliant |
| TRI.TO | Thomson Reuters Corporation | Compliant |
| MFC.TO | Manulife Financial Corporation | Non-Compliant |
| SU.TO | Suncor Energy Inc. | Compliant |
| CNQ.TO | Canadian Natural Resources Limited | Compliant |
| ATD.TO | Alimentation Couche-Tard Inc. | Compliant |
| CSU.TO | Constellation Software Inc. | Compliant |
| FTS.TO | Fortis Inc. | Non-Compliant |
| ABX.TO | Barrick Mining Corporation | Compliant |
| WCN.TO | Waste Connections, Inc. | Compliant |
| QSR.TO | Restaurant Brands International Inc. | Non-Compliant |
| DOL.TO | Dollarama Inc. | Compliant |
| GIB-A.TO | CGI Inc. | Compliant |
Frequently Asked Questions
Which TSX 60 stocks are halal?
Based on AAOIFI 30/30/5 screening, 11 out of 20 screened TSX 60 stocks are currently Shariah compliant. Compliance status is updated regularly as new financial data becomes available. Use the table above to see the full breakdown of compliant, non-compliant, and needs-review stocks.
What is the AAOIFI 30/30/5 screening standard?
The AAOIFI 30/30/5 standard is the most widely adopted Shariah screening methodology. It requires: (1) the company does not primarily operate in haram industries, (2) interest-bearing debt is below 30% of market capitalization, (3) cash and interest-bearing securities are below 30% of market cap, and (4) non-permissible income is below 5% of total revenue. A stock must pass all four criteria to be considered Shariah compliant.
Can a TSX 60 stock's halal status change?
Yes. Shariah compliance status can change every quarter when companies release new financial data. Changes in debt levels, cash holdings, or revenue composition can push a stock above or below the AAOIFI thresholds. Halalytic uses the latest available financial data so you always see the current compliance status. We recommend checking compliance regularly, especially after earnings reports.
How do I invest in halal TSX 60 stocks?
First, check which TSX 60 stocks are Shariah compliant using the table on this page. Then open an account with a broker that supports halal investing. Only invest in stocks that pass AAOIFI screening. For any compliant stock with a small non-permissible income ratio, calculate and donate the purification (tazkiyah) amount to charity. Alternatively, consider Shariah-compliant ETFs like SPUS or HLAL that pre-screen the S&P 500 for halal compliance.
Do I need to pay zakat on TSX 60 stocks?
Yes. If you hold stocks for investment (not just for day trading), you must pay zakat of 2.5% on the market value of your holdings once they exceed the nisab threshold and have been held for one full lunar year (hawl). Use the Halalytic Zakat Calculator to determine your exact zakat obligation on stock holdings.
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Good to know: Compliance status can change as new company data becomes available. For important decisions, we recommend checking the current data and confirming the result with a qualified Shariah adviser.
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