Is Tencent Holdings Limited (TCEHY) halal?
Tencent Holdings Limited is considered halal under 3 of 5 standards — the scholars disagree. Below is the verdict under each of the five mainstream scholarly standards, with the deciding numbers and the source behind every threshold.
- HalalAAOIFI Standard
All ratio checks pass.
- BorderlineMufti Taqi Usmani (stricter Hanafi)
Illiquid (tangible) assets / total assets 9.0% (limit 20%)
- HalalDow Jones Islamic Market
All ratio checks pass.
- HalalJa'fari (Sistani-aligned)
All ratio checks pass.
- Not halalStrict / zero-tolerance
Impermissible income / revenue 2.3% (limit 0%); Interest-bearing debt / market cap 11.9% (limit 0%); Cash + interest-bearing securities / market cap 12.7% (limit 0%)
The numbers behind the verdict
- Interest-bearing debt / market cap
- 11.9%
- Cash + securities / market cap
- 12.7%
- Receivables / market cap
- 1.5%
- Impermissible income / revenue
- 2.3%
- Illiquid (tangible) assets / total
- 9.0%
Thresholds and methodology differ by scholar — e.g. AAOIFI caps interest-bearing debt at 30% of market cap, DJIM at 33%, and Mufti Taqi additionally requires tangible assets to be at least 20% of total assets. That's why two screeners can disagree on the same stock.
TCEHY appears in this halal index
It passes the AAOIFI screen and is large enough to be a current constituent.
- AAOIFI: AAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds)
- Mufti Taqi: Mufti Taqi Usmani — published equity-screening rulings (illiquid-asset rule)
- DJIM: S&P Dow Jones Islamic Market Indices — Index Methodology (Shariah Screening)
- Ja'fari: Ayatollah Sistani — Code of Practice (sistani.org)
- Strict: Minority scholars holding zero-tolerance on riba exposure
- Financials: Q1 2026 filing
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HalalGauge surfaces published scholarly methodologies with full sourcing; it does not issue fatwa or certify any security as halal. Verify with a qualified scholar before investing.