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Is ITT Inc. (ITT) stock halal to invest in?
As of Aug 27, 2024, ITT Inc. (ITT) stock is Shariah-compliant based on its
business activities and financial ratios.
As of Aug 27, 2024, ITT Inc. (ITT) stock is flagged as Shariah-compliant in terms of
Shariah compliance. This means that while the company's operations do not definitively violate Islamic
guidelines, there are certain aspects of ITT Inc.'s business that require careful consideration.
Does ITT Inc. have any interest income?
Yes, ITT Inc. does have interest income. According to the company's latest annual report for
the fiscal year ending Dec 31, 2023, ITT Inc. reported revenue of
3283000000 and interest income of
8800000. The interest income represents
0.27% of the combined total. It's worth noting that some companies
may report additional interest income as part of their revenue. For a detailed breakdown of all interest
income and revenue segments, please refer to the full Shariah compliance report available in the Zoya app.
No, ITT Inc. has not reported any interest income. According to the company's latest annual
report for the fiscal year ending Dec 31, 2023, ITT Inc. reported total revenue
of 3283000000, with no separate interest income disclosed. However,
it's worth noting that some companies may report interest income as part of their revenue. For a detailed
breakdown of all interest income and revenue segments, please refer to the full Shariah compliance
report available in the Zoya app.
What guidelines are used to determine if ITT Inc. stock is Shariah-compliant?
Kami menggunakan garis panduan yang ditetapkan oleh Organisasi Perakaunan dan Pengauditan untuk Institusi Kewangan Islam (AAOIFI) untuk menilai pematuhan Syariah. AAOIFI ialah organisasi antarabangsa terkemuka yang menetapkan piawaian untuk kewangan Islam. Garis panduan mereka membantu menentukan sama ada aktiviti perniagaan dan struktur kewangan syarikat sejajar dengan prinsip Islam. Piawaian ini dihormati secara meluas dalam industri kewangan Islam dan menyediakan rangka kerja yang konsisten untuk menilai pematuhan Syariah saham dan instrumen kewangan lain. Lembaga Syariah AAOIFI termasuk ulama terkenal seperti Sheikh Muhammad Taqi Usmani, Sheikh AbdulSattar Abu Ghuddah, dan Sheikh Abdullah AlManea.
How often is ITT Inc. stock reviewed for Shariah compliance?
The Shariah compliance status of ITT Inc. stock is reviewed on a regular basis, with a minimum
frequency of once per quarter. However, if there are any significant changes or major developments
in the company's operations that may impact its compliance, an immediate review will be conducted to
ensure ongoing adherence to Shariah principles.
How can I stay updated on ITT Inc.'s compliance status?
To stay informed, we recommend regularly checking Zoya for updates. You can also enable alerts within
the Zoya app to receive notifications whenever there is a change in the Shariah compliance of ITT,
or any other stocks you are monitoring. This is particularly useful as Shariah compliance can fluctuate
due to changes in a company's financial ratios or business activities.
Are dividends from ITT Inc. stock considered halal?
Yes, dividends from ITT are considered halal. However, you may need to purify a portion of the
dividend if the company has any impermissible revenue. Shariah standards typically allow up to 5% of
revenue from impermissible sources for a stock to remain compliant. To find the exact percentage of
impermissible revenue for ITT Inc. (ITT), check the Zoya app. For more details on the
purification process, read
our comprehensive guide.
No, dividends from ITT are not considered halal because the stock is currently not
Shariah-compliant. When a stock is non-compliant, any dividends received from it are considered
impermissible income and should be donated to charity as a form of purification. To learn more about
the purification process and how to handle impermissible income, read
our comprehensive guide.
Do I need to pay Zakat on my ITT Inc. shares?
If you hold ITT Inc. stock as an investment, through an Employee Stock Ownership
Plan (ESOP), stock options, restricted stock units (RSUs), or any other form of stock ownership, and
meet the Nisab threshold, you may be required to pay Zakat on it. The calculation of Zakat on stocks
can be complex and depends on various factors. To help make this easy, we've created a free
Zakat calculation tool. For an even
easier experience, use the Zoya mobile app, where you can link your brokerage account to automatically
import holdings.
