--- title: "Is Dollarama Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/dollarama-stock publisher: HalalWallet license: CC BY 4.0 verdict: halal verdict_label: Halal entity_type: stock ticker: DOL.TO exchange: TSX last_reviewed: 2026-06-15 data_as_of: 2026-01-31 standards_disagree: true --- # Is Dollarama Stock Halal? **Verdict: Halal** (Generally permissible) Dollarama Inc. (DOL.TO) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-01-31) interest-bearing debt is 5.6% of market cap and cash plus interest-bearing securities 0.6% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF WSHR, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified. > 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 Dollarama is about as clean as consumer retail gets on the TSX from a business-activity standpoint. Unlike convenience stores or grocers, its disclosed merchandise mix, roughly half consumables like cleaning supplies, snacks, and health and beauty products, plus general merchandise and seasonal goods, contains no tobacco, no alcohol, and no lottery products. The product categories the company itself lists in its Annual Information Form are the everyday household items a dollar store is known for. Independent screening supports this picture: Dollarama appears in the published holdings of Wealthsimple's Shariah World Equity Index ETF (WSHR), whose underlying index is certified by Islamic researchers at Ratings Intelligence Partners and excludes companies deriving more than five percent of income from alcohol, tobacco, conventional finance, and other impermissible categories, as well as companies with excessive leverage. Inclusion in a certified Shariah index is a meaningful third-party signal that both the business screen and the financial ratios were passing at the time of the index review. The usual caveats are lighter here but still apply. Dollarama uses debt in its capital structure, including for its store network and its Australian expansion, so ratio-based compliance should be confirmed on a live screener before buying. But among Canadian consumer names, Dollarama is one of the few where the business screen raises no identifiable red flags from the company's own disclosures. ## Business activity screen Result: Pass Dollarama is Canada's leading value retailer, selling a broad assortment at low fixed price points through stores across Canada (and, via its 2025 acquisition, The Reject Shop in Australia). Per its fiscal 2026 Annual Information Form, the merchandise mix was approximately 49% consumable products (cleaning supplies, health and beauty, pet food, confectionery, drinks, snacks, food), 38% general merchandise (housewares, kitchenware, hardware, electronics, toys, apparel, party and office supplies), and 13% seasonal items. Dollarama's disclosed merchandise categories in its Annual Information Form do not include tobacco, alcohol, or lottery products; the categories listed are household consumables, food and beverages (non-alcoholic), general merchandise, and seasonal goods. No impermissible revenue lines are identifiable from the company's public filings. As always, incidental items such as interest on cash should be checked on a current screener for purification purposes. ## Financial ratio screen (AAOIFI) Data as of: 2026-01-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 5.6% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 0.6% | < 30% | Pass | | Impermissible income / total revenue | 0.4% | < 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 These standards disagree on this company — it passes some and fails others, which is why different apps can show different answers. The headline label follows AAOIFI (the strictest mainstream standard). | Standard | Debt | Cash & interest securities | Limit / basis | Result | |---|---|---|---|---| | AAOIFI (our standard) | 5.6% | 0.6% | < 30% of market cap | Pass | | Dow Jones Islamic / S&P Shariah threshold | 5.6% | 0.6% | < 33% of market cap | Pass | | MSCI Islamic / FTSE Yasaar basis | 45.3% | 9.9% | < 33.33% of total assets | Fail | HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-04-30) — 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. ## Scholars' and screeners' positions - **Wealthsimple Shariah World Equity Index ETF (WSHR)**: Held in WSHR as of 2026-06-11 — passed the Shariah screen applied by the index provider. ([source](https://help.wealthsimple.com/hc/en-ca/articles/1500011334461-Stocks-held-in-the-Wealthsimple-Shariah-World-Equity-Index-ETF-WSHR)) - **undefined**: undefined - **SP Funds S&P 500 Sharia ETF (SPUS)**: Verify current SPUS schedule before citing as held (reference SOI 2026-02-28). ([source](https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Verify current HLAL holdings before citing as held (reference 2026-06-05). ([source](https://stockanalysis.com/etf/hlal/holdings/)) ## Purification Even Shariah-compliant companies typically earn a small amount of incidental interest on corporate cash. The standard practice is to purify: donate the proportion of your dividends (and, per some scholars, capital gains) attributable to impermissible income. Our purification calculator automates the math from your holding and the company's disclosed figures. ## Sources - DOL.TO latest filings on SEDAR+ (balance sheet 2026-01-31) (https://www.sedarplus.ca/csa-party/records/document.html) - AAOIFI Shariah Standards (https://aaoifi.com) - Dollarama Fiscal 2026 Annual Information Form (merchandise mix) (https://www.dollarama.com/en-CA/corp/wp-content/uploads/2026/04/2026-Annual-Information-Form-EN.pdf) - WSHR holdings list (Wealthsimple) (https://help.wealthsimple.com/hc/en-ca/articles/1500011334461-Stocks-held-in-the-Wealthsimple-Shariah-World-Equity-Index-ETF-WSHR) - Zoya — DOL.TO Shariah compliance (https://zoya.finance/stocks/dol-to) ## Frequently asked questions ### Is Dollarama Inc. (DOL.TO) stock halal? Yes, under our AAOIFI-based methodology Dollarama Inc. passes the business-activity and financial-ratio screens as shown on this page (data as of 2026-01-31). Check the dated ratio table before investing; ratios move with the share price. ### Does Dollarama Inc. pass the AAOIFI financial ratio screen? As of 2026-01-31: interest-bearing debt is 5.6% of market cap (limit < 30%); cash plus interest-bearing securities is 0.6% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Dollarama Inc. held in halal ETFs like SPUS or HLAL? Yes — as of our last check, Dollarama Inc. is held by WSHR. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below. ### Do I need to purify dividends from Dollarama Inc.? Yes, in most cases. Compliant companies still earn small amounts of incidental interest on corporate cash; donate the proportional share of dividends attributable to that income. ## Related verdicts - [Is PepsiCo Stock Halal?](https://www.halalwallet.ca/is-it-halal/pepsico-stock.md) — Halal - [Is Salesforce Stock Halal?](https://www.halalwallet.ca/is-it-halal/salesforce-stock.md) — Halal - [Is AbbVie Stock Halal?](https://www.halalwallet.ca/is-it-halal/abbvie-stock.md) — Halal - [Is Air Products and Chemicals Stock Halal?](https://www.halalwallet.ca/is-it-halal/air-products-and-chemicals-stock.md) — Halal - [Is AppLovin Stock Halal?](https://www.halalwallet.ca/is-it-halal/applovin-stock.md) — Halal - [Is Arista Networks Stock Halal?](https://www.halalwallet.ca/is-it-halal/arista-networks-stock.md) — Halal --- 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