--- title: "Is Amazon.com Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/amazon-com-stock publisher: HalalWallet license: CC BY 4.0 verdict: conditional verdict_label: Conditional entity_type: stock ticker: AMZN exchange: NASDAQ last_reviewed: 2026-06-14 data_as_of: 2026-03-31 standards_disagree: false authorities_with_position: 3 authority_agreement: unanimous --- # Is Amazon.com Stock Halal? **Authority consensus:** All 3 halal screening authorities with a published position rate Amazon.com, Inc. doubtful. **Verdict: Conditional** (Permissible with conditions) Amazon.com, Inc. (AMZN) passes the screens we can compute (data as of 2026-03-31) — interest-bearing debt / market cap 4.6%, cash + interest-bearing securities / market cap 5.5%, impermissible income / total revenue 0.6% — but one screen requires case-by-case judgment. It is not held by Shariah-screened ETFs SPUS or HLAL. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence Amazon spans e-commerce, cloud computing (AWS), advertising, streaming media and logistics. Much of this - general retail, cloud infrastructure, logistics - is permissible activity. The Shariah concerns are spread across several lines: Amazon's retail operations (including Whole Foods and Amazon Fresh) sell alcohol and pork products where local law allows; its advertising business has grown into a major disclosed revenue line; Prime subscriptions bundle entertainment content via Prime Video and Amazon Music; and Amazon operates seller-lending programs and co-branded credit cards. None of the specifically problematic items (alcohol sales, impermissible ad share, lending income) is separately disclosed in Amazon's filings, which forces screeners to estimate whether the total stays under the typical 5%-of-revenue tolerance. The third-party picture for Amazon is notably more negative than for most mega-cap tech peers. As of June 11, 2026, Amazon is absent from both SPUS (S&P Shariah screen) and HLAL (FTSE Shariah screen) holdings - meaning neither index methodology currently includes it - and the retail screeners agree directionally: Zoya publicly flags it as questionable and Musaffa classifies it as doubtful under AAOIFI-based analysis. When both the institutional index screens and the retail AAOIFI screeners decline to pass a stock, that is a meaningfully stronger negative signal than a single methodology's view. Financially, Amazon carries debt and lease obligations that are modest relative to its very large market value, so the hesitancy is driven primarily by the business screen - the mix of alcohol-inclusive retail, entertainment and advertising revenue - rather than leverage. A Muslim investor who still wished to hold Amazon would be relying on estimates that impermissible revenue stays within tolerance, against the documented judgment of the major screeners as of the checked date; the more cautious course indicated by current third-party screenings is to avoid or to wait for a clearer compliance picture. ## Business activity screen Result: Pass Amazon is an online and physical retailer, cloud-computing provider and advertising platform. Its 10-K reports three segments - North America, International and Amazon Web Services (AWS) - and disaggregates revenue into online stores, physical stores, third-party seller services, advertising services, subscription services, AWS, and other. Several lines raise business-screen questions: (1) Amazon's online and physical stores (including Whole Foods Market and Amazon Fresh) sell alcohol and pork products in many jurisdictions - the share of retail revenue from such products is not separately disclosed in filings; (2) advertising services is a disclosed revenue line and general ad inventory can include impermissible products; (3) subscription services includes Prime Video and Amazon Music entertainment content; (4) Amazon offers seller financing/lending programs and co-branded credit cards, and earns interest income - these financing amounts are not material disclosed revenue lines. Exact current-year figures for the disclosed lines were not independently re-verified for this research and are omitted. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 4.6% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 5.5% | < 30% | Pass | | Impermissible income / total revenue | 0.6% | < 5% | Pass | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## How it screens across Shariah standards All three mainstream bases below reach the same conclusion for this company. | Standard | Debt | Cash & interest securities | Limit / basis | Result | |---|---|---|---|---| | AAOIFI (our standard) | 4.6% | 5.5% | < 30% of market cap | Pass | | Dow Jones Islamic / S&P Shariah threshold | 4.6% | 5.5% | < 33% of market cap | Pass | | MSCI Islamic / FTSE Yasaar basis | 13.0% | 15.6% | < 33.33% of total assets | Pass | HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-31) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded); the < 5% impermissible-income screen is common to all and shown above. Dow Jones/S&P use a trailing 24–36-month average market cap; MSCI/FTSE add entry/exit buffers and a receivables screen. ## Conditions Our computed AAOIFI financial-ratio screen passes on the latest filing data, but both major U.S. Shariah-screened ETFs — SPUS (S&P Shariah methodology) and HLAL (FTSE Shariah methodology) — exclude Amazon.com, Inc. from their holdings as of our June 2026 check, even though it is in their parent indices. Professional screens apply filing-level business-activity analysis (alcohol, pork, tobacco, or media revenue share) and different ratio bases that an automated ratio screen cannot replicate. That divergence usually signals an impermissible-revenue question. Treat this as unresolved until the segment revenue in the latest annual filing is verified line by line. ## Scholars' and screeners' positions - **SP Funds S&P 500 Sharia ETF (SPUS)**: Not held in SPUS as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sp-funds.com/spus/)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Not held in HLAL as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://funds.wahedinvest.com/)) - **Zoya**: Zoya's public stock page flags AMZN as questionable under its AAOIFI-based screen (checked 2026-06-11). ([source](https://zoya.finance/stocks/amzn)) - **Musaffa**: Musaffa's public stock page classifies AMZN as DOUBTFUL under its AAOIFI-based methodology, as of February 2026 (page checked 2026-06-11, later showing May 2026 refresh). ([source](https://musaffa.com/stock/AMZN/)) ## Sources - AMZN latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Amazon.com%2C%20Inc.&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - Amazon 10-K filings - SEC EDGAR (CIK 0001018724) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001018724&type=10-K) - SPUS holdings (sp-funds.com, table dated 06/11/2026) (https://www.sp-funds.com/spus/) - HLAL fund page with official Holdings link (funds.wahedinvest.com) (https://funds.wahedinvest.com/) - Zoya public compliance page for AMZN (https://zoya.finance/stocks/amzn) - Musaffa public compliance page for AMZN (https://musaffa.com/stock/AMZN/) ## Frequently asked questions ### Is Amazon.com, Inc. (AMZN) stock halal? Amazon.com, Inc. is conditional under our screen — one or more lines need filing-level verification before treating it as clearly halal or not halal. ### Does Amazon.com, Inc. pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 4.6% of market cap (limit < 30%); cash plus interest-bearing securities is 5.5% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Amazon.com, Inc. held in halal ETFs like SPUS or HLAL? No — as of our last check, Amazon.com, Inc. is not held by SPUS or HLAL. Absence can reflect a failed screen or index scope — verify current holdings before citing. ## Related verdicts - [Is The Coca-Cola Stock Halal?](https://www.halalwallet.ca/is-it-halal/the-coca-cola-stock.md) — Conditional - [Is Apple Stock Halal?](https://www.halalwallet.ca/is-it-halal/apple-stock.md) — Halal - [Is Best Buy Stock Halal?](https://www.halalwallet.ca/is-it-halal/best-buy-co-stock.md) — Conditional - [Is Caterpillar Stock Halal?](https://www.halalwallet.ca/is-it-halal/caterpillar-stock.md) — Conditional - [Is Constellation Energy Stock Halal?](https://www.halalwallet.ca/is-it-halal/constellation-energy-stock.md) — Conditional - [Is Costco Wholesale Stock Halal?](https://www.halalwallet.ca/is-it-halal/costco-wholesale-stock.md) — Conditional --- Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30). - Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json - Site guide for AI systems: https://www.halalwallet.ca/llms.txt - Markdown mirror directory: https://www.halalwallet.ca/index.md